I just previous saw another video of yours and curious on how to file my taxes on our short-term rental property when it is located in one state and I reside in another state. I am new to this and looking to grow and teach my adult children for reference. Our short term is located in Missouri & currently live in California. I am looking to relocate to be closer to our short-term rental.
Thank you Clint for the excellent presentation. I am interested in the upcoming Tax & Asset Protection Workshop and wonder if a recording will be available. I am based overseas and the time difference make a live attendance impossible. Thanks!
Clint,thanks for your information. We have 3 rental properties. 1 in Florida, 2 in New Jersey and our residence in NYC. Do we need different LLC to protect these properties ?
Yes you do. I would use 2 LLCs in NJ and a land trust for the FL property to avoid doc stamps or a tax reassessment. If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession
One of your MOST informative with breakdowns. You guys should be charging for this information is better than anything out there. Thanks for what you do!
Great content! Exceptionally helpful. I do have a question that I hope I didn't miss in the video, but in the case of purchasing a portfolio of a few dozen single-family home rentals in Tennessee, what would be the process for that? Would it still be a Wyoming holding as a member manager of the Tennessee LLC that holds all of the properties?
No in that case you will want to make sure you qualify for FONCe to avoid franchise taxes. I would use a TN series LLC with a Wyoming holding LLC and have the properties held by different cells that qualify for FONCE. We have several different options for TN investors to minimize the impact of TN franchise taxes. If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession
Thank you for the informations. My questions are; when creating an EIN do I opt or the Wyoming holding company or the actual state that the rental is in or does it matter? Do I need an EIN in each LLC (holding company and state rental is in)? Thank you!
Great video as always. Are there any advantages to having your rental real estate owned by a Land Trust with an LLC Beneficiary as opposed to having the LLC own the property directly? Assume that the property is in a state that has Land Trusts in its statutes (Indiana).
Not really. If you can avoid using multiple entities then keep it simple. If you need a land trust because of transfer taxes etc. then I would consider using it.
Because the WY LLC will need to be filed in every state where it conducts business so you will be paying twice the annual fees without any extra benefit.
For risky real estate you advise LLC taxed as partnership, who can be manager of the LLC? Please do a UA-cam on all the choices, such as c corp, another LLC? Individual, how to ideally set up a LLC in terms of ownership and management of LLC from risk perspective. Thank you!
At 16:32 - In NC, it's possible to file LLC without personal individual name, only members (a WY LLC for example), but state requires annual report reveal natural persons name. Is there another way to stay anonymous in NC, without a nominee manager?
@@ClintCoons in order to take distributions then it needs to be a s Corp. S Corp means salary. Salary means going over limit for ssdi. You wouldn't do a owners draw?
@@ClintCoons let me try it again. Just say a person under 65 is receiving ssdi. With ssdi you can have unlimited investment income and it won't affect you ssdi benefits. Now you go out and acquire rental properties and start getting rental income. How do you get the income out of your LLC properly without a paycheck. Because a paycheck will trigger sga or twp. Would you take a owners draw from the LLC? Also can you take a owners draw if the LLC is a partnership? This is more of conversation for a phone call but I tried calling your office and couldn't get you or toby.
I converted my personal residence into a long term rental in AZ. I’ve created an LLC. How do I then transfer the property to my LLC without the lender requiring me to pay off the loan?
As far as I know a bank can call your loan anytime they want if you transfer it into an llc but the bank usually won’t.That’s a gamble but there might be a loop hole Clint might know about…..I hope
1. Who is the business’s primary point of contact? 2. Your LLC will be managed by? Solely by the owner(s) (Member-managed) Some, but not all, owners (Manager-managed) By the owner(s) and other managers (Manager-managed) Solely by the manager(s) (Manager-managed) 3. Please provide the manager(s) information. 4. Is Alabama a series LLC state?
@Clint Coons Esq. | Real Estate Asset Protection So would I use a S Corp or C Corp for Spec Home/ New Construction purposes or just do LLC. Also if one is to use a Corp how would I connect the two?
@@skiplee3060 The answer to whether you should use a C or S would depend on your current income and what you expect to earn on the flip and do you plan to continue flipping. The other question is easy - the member of the LLC will be the corporation.
@Clint Coons Esq. | Real Estate Asset Protection So S Corp to Current LLC and that LLC I can connect to the WY LLC for Animenity for both, or does the Scorp have to have a different process?
I reside in Sammamish, WA and have several Washington state Rental Properties in a single LLC. I am purchasing a vacation rental property in Oregon and want to create a LLC for that property? Which state is the better state to form the LLC and what type of LLC?
I am in Tucson, Arizona can you tell me how to setup a Realter business in Arizona please. Looking to invest in Northern Arizona zone. I do have a LLC in Tucson, AZ watts will be the appropriate structure for me and how should I started.
I suggest an AZ LLC treated as an S-Corporation for tax purposes. If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession
I have several properties in my name....I've created a Illinois llc. .Should I use a land trust and have the llc be the beneficiary or just put them under the llc or different llcs?...I have 5 properties
Those the same apply when living in NYC ? Investing property’s in Pennsylvania do I open LLC in Wyoming to then open LLC in PA ? What will be ideal strategies setting up
Might I suggest setting up a strategy session? If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession You are on the right track. Set up a WY LLC then form your LLCs in other states so that each point back to the WY LLC for anonymity. PA is challenging. If you are not buying in the LLC name then you should consider a pocket deed.
So do you recommend setting up an LLC for one's first rental property as small as a triplex or should I only consider this after owning several more units?
Not at all. I would set up the LLC for your first deal. If you would like to learn more you can register for one of our upcoming Livestream 1-day Tax and Asset Protection Classes for Real Estate Investors. Here is the link: aba.link/UA-camAP.
Hello Clint, I realize this is an older video, but can you tell me or send me to a video about how you claim you own an anonymous LLC? For credit and future loans I may want to take from my properties to expand my real estate business
@@ClintCoons Clint, thank you for taking the time to reply. I truly appreciate it. I am in the process of determining the structure I want to move forward with. You have been a true asset in helping me understand numerous issues I need to consider. I am looking for someone in my area first for expertise in this process. If this search fails, I would very much consider working with your company. Thank you again Wayne
For partnerships tax returns of Wyoming LLC, and one person. Can the one owner person have another LLC, or living trust or land trust the second member? What are the choices for the 2nd member of Wyoming LLC to do partnership tax return? Thanks!
Wow! Mr. Coons, thank you so much for taking your valuable time to answer these questions! We are grateful for all your valuable contributions to our education! We recommended Dora Lee to join your platinum membership, please allow her to remain a platinum member and any questions please call to clarify your teams’ assumptions. Thank you very much!
You recommend a partnership tax return, what are all the ways that a Wyoming holding LLC can plan to qualify to do a partnership tax return? For example can person set up c corp to serve as manager with the one person also as manager? Maybe this is a good topic for more education. Not sure if a trust for children or nonprofit could qualify as member and manager? Thanks for clarifying possibilities and the sequence. Does the c corp have to already be in existence to serve as manager of Wyoming holding co? What can and cannot be done and the risks. Thank you so much!!!
@@ClintCoons so the manager can be the main perdon then the husband or c corp can have 1% and main person had 99% then the Wyoming LLC can do partnership tax return? Thanks!
I bought an apartment under an LLC to renovate it and do Airbnb. Now I have the possibility to rent it to a tenant instead. Would it be considered an investment or a business for tax purposes if I rent it to a tenant? I would love to take advantages of the start up cost and other business deductions
Hello I have a Fl LLC but I sold my rental in 2021, I now live in SC, should I cancel my Fl LLC I do look at properties in Fl from time to time and it up for renewal until May 2023? But land trust sound better if we land another Fl rental. Thank you.
Good Morning Clint, I am in the processing of purchasing my first investment property. I reside in FL, however, it is located in Kansas City, Mo. I didn't see that state mentioned so any advice on how to handle LLC/Land trust, other? Thank you in advance.
I opened up a member llc in texas before I seen your video I used my address as the business address and I used legalzoom can I still use a wy llc and fix the ?
*Great content!!!* _How does Massachusetts operate?_ *Is it best to be a member managed or manager managed for anonymity?* *Does transfer tax apply for LLCs and not nominee trusts?* 🤔
Hi Clint, your videos are great! Thank you so much. My Dad has three rental houses on one legal property and I want him to start up LLC's for asset protection. Do you know if it's possible for him to set three LLC's up on the one lot of land or if the land would have to be subdivided first? One last question, two of the houses on the lot share septic. Do you know if this prevents them both from being able to become individual LLC's, even if we were to subdivide the land? We are in MD. Thank you, Matt
You could subdivide then place each property into a separate LLC (best approach). Second would be to set up 3 LLCs and deed the property to the 3 LLCs as a TIC and indicate that each LLC holds title to a different address. This is not as strong as the first solution.
@@ClintCoons Thank you so much! You seem very and knowledgeable about what can be done and your videos are super helpful. I will keep watching and learning as much as I can. Thanks again! Matt
New subscriber here. I'm a Toby Mathias subscriber which is how I found you. Thanks for the great information. I recently inherited assets from my father, one being a 2 family house located in New Jersey. I live in half of the property and he lived in the other half which I will soon be using as a rental. I would like to purchase more property as well. I do not have an active business or a partnership. What is the best LLC to set up for anonymity as well as optimize tax strategies given the estate inheritance.
The inheritance should be tax free it is is under 11MM (federal - I understand NJ does not impose any estate tax). If you want anonymity for your NJ investments then your best structure would be to set up a WY holding LLC and have it be the member/manager of a NJ LLC.
Home building company with multiple members, any advice for this? I want to build multiple homes at the same time with multiple people. Currently doing owner-built, and our funds/expenses are commingled between properties. Would like to have liability protection, with each member liable to only one (or more) house. We're currently building for cash, but may get loans in future. How would that work if we have properties titled/owned by business? We are also planning to have long-term rentals in the future.
Best solution would be to get a strategy session. If you are working with the same partners then it is simpler but if your partners will be different on every deal then it will require separate JV LLCs for each flip. Also you just gave me an idea for a video. Thanks.
Hey Clint! I bought a rental property before I found your video and learned about the holding LLC. I know have the structure set up (WY holding LLC and NC operating LLC for the rental). Do I do a warranty deed of the property to the NC LLC OR THE WY LLC?
This was great! Thanks Clint!
Watched a video from 8 years ago looks even better 6 years later respect to a man that takes his health seriously
Hah. Thanks.
clint, 24min mark was epic...thats the kind of back up you wanna have protecting your business
Thanks
Please assume local LLC will be located in Wash DC.Wyoming will be holding LLC. Question is who should be manager of these? Thank you!
You will be the manager of the WY LLC and the WY LLC will be the member manager of the WADC LLC.
I just previous saw another video of yours and curious on how to file my taxes on our short-term rental property when it is located in one state and I reside in another state. I am new to this and looking to grow and teach my adult children for reference. Our short term is located in Missouri & currently live in California. I am looking to relocate to be closer to our short-term rental.
A weath of information. Thank you for sharing
Thank you Clint for the excellent presentation. I am interested in the upcoming Tax & Asset Protection Workshop and wonder if a recording will be available. I am based overseas and the time difference make a live attendance impossible. Thanks!
Clint,thanks for your information. We have 3 rental properties. 1 in Florida, 2 in New Jersey and our residence in NYC. Do we need different LLC to protect these properties ?
Yes you do. I would use 2 LLCs in NJ and a land trust for the FL property to avoid doc stamps or a tax reassessment. If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
One of your MOST informative with breakdowns. You guys should be charging for this information is better than anything out there. Thanks for what you do!
Thanks.
Great content! Exceptionally helpful. I do have a question that I hope I didn't miss in the video, but in the case of purchasing a portfolio of a few dozen single-family home rentals in Tennessee, what would be the process for that? Would it still be a Wyoming holding as a member manager of the Tennessee LLC that holds all of the properties?
No in that case you will want to make sure you qualify for FONCe to avoid franchise taxes. I would use a TN series LLC with a Wyoming holding LLC and have the properties held by different cells that qualify for FONCE. We have several different options for TN investors to minimize the impact of TN franchise taxes. If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
Excellent very substantive high value expertise. Thank you for sharing!
Glad it was helpful!
Love it👍 thanks Clint!
Can I use these same tactics (land trust) to protect my primary residence?
You should set up a residence trust that has similar characteristics to a land trust.
Just fantastic content Clint delivers , all signal .. for free. Amazing job . Thank you
D Rice
Thanks for watching.
Thank you for the informations. My questions are; when creating an EIN do I opt or the Wyoming holding company or the actual state that the rental is in or does it matter? Do I need an EIN in each LLC (holding company and state rental is in)? Thank you!
Each LLC will need an EIN. Typically we will list our client as the responsible party and not the WY LLC when obtaining the EIN.
Great video as always. Are there any advantages to having your rental real estate owned by a Land Trust with an LLC Beneficiary as opposed to having the LLC own the property directly? Assume that the property is in a state that has Land Trusts in its statutes (Indiana).
Not really. If you can avoid using multiple entities then keep it simple. If you need a land trust because of transfer taxes etc. then I would consider using it.
Hello Clint, my question is what to do after I set up my rental LLCs. I got my EIN number, now what? Thanks
Open a bank account and direct your tenants to begin paying your LLC.
Tell me why is better to get Wyomin LLC for everything
Because the WY LLC will need to be filed in every state where it conducts business so you will be paying twice the annual fees without any extra benefit.
Hi, if I have a rental property in my name, it is recommendable to transfer to LLC? How?
Yes or a land trust. If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
THANKS CLINT
cmnyt1111
Thanks for watching.
About Arizona?
If the Wyoming LLC will serve as holding co for later local lox’s, is it better to have c corp as manager and living trusts as members?
Yes as to the living trust and possibly regarding the corp. The corp would depend on your business activity.
If I start a Wyoming LCC but I live in California. Do I need to register in California that i have a foreign entity to avoid foreign qualification?
If the LLC is conducting business in CA, then the answer is Yes, you will need to register in CA.
For risky real estate you advise LLC taxed as partnership, who can be manager of the LLC? Please do a UA-cam on all the choices, such as c corp, another LLC? Individual, how to ideally set up a LLC in terms of ownership and management of LLC from risk perspective. Thank you!
Thanks for the suggestion. On my list
Thanks Clint! Great Info bro!
You bet!
For partnership tax returns, you say need two tax payers, besides the owner can the other be a living trust or land trust for a child?
Not your living trust but a child will qualify.
At 16:32 - In NC, it's possible to file LLC without personal individual name, only members (a WY LLC for example), but state requires annual report reveal natural persons name. Is there another way to stay anonymous in NC, without a nominee manager?
Extremely informative! Thank You for doing this.
I have take care and liability money and save the project
Say you are on ssdi, under 65, and have multiple props under LLC's. How do you get money out of your llc without pulling a salary?
Distributions not salaries
@@ClintCoons in order to take distributions then it needs to be a s Corp. S Corp means salary. Salary means going over limit for ssdi. You wouldn't do a owners draw?
@@timothyyoung980 Sorry but I am lost. Are you stating your holding LLC is set up as an S-Corporation for federal tax purposes and not a partnership?
@@ClintCoons let me try it again. Just say a person under 65 is receiving ssdi. With ssdi you can have unlimited investment income and it won't affect you ssdi benefits. Now you go out and acquire rental properties and start getting rental income. How do you get the income out of your LLC properly without a paycheck. Because a paycheck will trigger sga or twp. Would you take a owners draw from the LLC? Also can you take a owners draw if the LLC is a partnership? This is more of conversation for a phone call but I tried calling your office and couldn't get you or toby.
@@timothyyoung980 You do not take a paycheck from the LLC you take a distribution. The income from your LLC is passive.
Blockchain LLCs are the future. Monero
Good details
D
I converted my personal residence into a long term rental in AZ.
I’ve created an LLC.
How do I then transfer the property to my LLC without the lender requiring me to pay off the loan?
I have the same question
As far as I know a bank can call your loan anytime they want if you transfer it into an llc but the bank usually won’t.That’s a gamble but there might be a loop hole Clint might know about…..I hope
i think he has mentioned using a land trust in this scenario
I need help setting up a llc I want to start real estate investing
If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
In New Jersey what is the best Llc to set up
Depends on your business activity. If you are running an active business in NJ then I would suggest NJ.
We can hear you Clint :)
:)
1. Who is the business’s primary point of contact?
2. Your LLC will be managed by?
Solely by the owner(s) (Member-managed)
Some, but not all, owners (Manager-managed)
By the owner(s) and other managers (Manager-managed)
Solely by the manager(s) (Manager-managed)
3. Please provide the manager(s) information.
4. Is Alabama a series LLC state?
HI CLint. For wholesaling & flipping properties, is the best entity for that a S Corp? And if so, would the S Corp be connected with one's LLC? Thanks
Yes either an S or a C and the LLCs are wholly owned buy the flipping company.
@Clint Coons Esq. | Real Estate Asset Protection So would I use a S Corp or C Corp for Spec Home/ New Construction purposes or just do LLC. Also if one is to use a Corp how would I connect the two?
@@skiplee3060 The answer to whether you should use a C or S would depend on your current income and what you expect to earn on the flip and do you plan to continue flipping. The other question is easy - the member of the LLC will be the corporation.
@Clint Coons Esq. | Real Estate Asset Protection So S Corp to Current LLC and that LLC I can connect to the WY LLC for Animenity for both, or does the Scorp have to have a different process?
In other words, your Wyoming LLC should be your holding LLC if your buying real estate to have tenants ?
Correct
Would set up an LLC as a property holding company,property management company,what should the description of the llc be ?
What do you mean by description?
What does the LLC do ? I have to list what my business does in my job plan,does this description limit what my business can do?
I reside in Sammamish, WA and have several Washington state Rental Properties in a single LLC. I am purchasing a vacation rental property in Oregon and want to create a LLC for that property? Which state is the better state to form the LLC and what type of LLC?
I would set it up in Oregon unless you want anonymity then I would use a land trust and have the beneficial interest held by a WA or WY LLC.
Think ahead
I am in Tucson, Arizona can you tell me how to setup a Realter business in Arizona please.
Looking to invest in Northern Arizona zone.
I do have a LLC in Tucson, AZ watts will be the appropriate structure for me and how should I started.
I suggest an AZ LLC treated as an S-Corporation for tax purposes. If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
I have several properties in my name....I've created a Illinois llc. .Should I use a land trust and have the llc be the beneficiary or just put them under the llc or different llcs?...I have 5 properties
You might consider using a land trust for each property and have the beneficiary as a cell in an Illinois series LLC.
Those the same apply when living in NYC ? Investing property’s in Pennsylvania do I open LLC in Wyoming to then open LLC in PA ? What will be ideal strategies setting up
Might I suggest setting up a strategy session? If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
You are on the right track. Set up a WY LLC then form your LLCs in other states so that each point back to the WY LLC for anonymity. PA is challenging. If you are not buying in the LLC name then you should consider a pocket deed.
So do you recommend setting up an LLC for one's first rental property as small as a triplex or should I only consider this after owning several more units?
Not at all. I would set up the LLC for your first deal. If you would like to learn more you can register for one of our upcoming Livestream 1-day Tax and Asset Protection Classes for Real Estate Investors. Here is the link: aba.link/UA-camAP.
Great info! Thank you!!
Hans Morales
Thanks for watching.
Hello Clint, I realize this is an older video, but can you tell me or send me to a video about how you claim you own an anonymous LLC? For credit and future loans I may want to take from my properties to expand my real estate business
You would show the 3rd party your operating agreement (listing you as the manager and member) and your EIN letter from the IRS
@@ClintCoons Clint, thank you for taking the time to reply. I truly appreciate it. I am in the process of determining the structure I want to move forward with. You have been a true asset in helping me understand numerous issues I need to consider. I am looking for someone in my area first for expertise in this process. If this search fails, I would very much consider working with your company. Thank you again
Wayne
Love your videos man. Success really does demand everything 💪🏽
Yes it does! Appreciate you.
For partnerships tax returns of Wyoming LLC, and one person. Can the one owner person have another LLC, or living trust or land trust the second member? What are the choices for the 2nd member of Wyoming LLC to do partnership tax return? Thanks!
The setup you describe would not qualify for partnership tax treatment unless you are married.
Wow! Mr. Coons, thank you so much for taking your valuable time to answer these questions! We are grateful for all your valuable contributions to our education! We recommended Dora Lee to join your platinum membership, please allow her to remain a platinum member and any questions please call to clarify your teams’ assumptions. Thank you very much!
You recommend a partnership tax return, what are all the ways that a Wyoming holding LLC can plan to qualify to do a partnership tax return? For example can person set up c corp to serve as manager with the one person also as manager? Maybe this is a good topic for more education. Not sure if a trust for children or nonprofit could qualify as member and manager? Thanks for clarifying possibilities and the sequence. Does the c corp have to already be in existence to serve as manager of Wyoming holding co? What can and cannot be done and the risks. Thank you so much!!!
@@ClintCoons so the manager can be the main perdon then the husband or c corp can have 1% and main person had 99% then the Wyoming LLC can do partnership tax return? Thanks!
@@organizer14 Correct
Thank you
Carolyn Paul
Thanks for watching.
I bought an apartment under an LLC to renovate it and do Airbnb. Now I have the possibility to rent it to a tenant instead. Would it be considered an investment or a business for tax purposes if I rent it to a tenant? I would love to take advantages of the start up cost and other business deductions
It is an investment but many of your costs should be deductible or depreciated.
Hello I have a Fl LLC but I sold my rental in 2021, I now live in SC, should I cancel my Fl LLC I do look at properties in Fl from time to time and it up for renewal until May 2023? But land trust sound better if we land another Fl rental. Thank you.
Yes I think that is a good idea. Close your LLC bank account before shutting down the LLC
Clint. how can I contact you?
If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
Good Morning Clint, I am in the processing of purchasing my first investment property. I reside in FL, however, it is located in Kansas City, Mo. I didn't see that state mentioned so any advice on how to handle LLC/Land trust, other? Thank you in advance.
Kansas does not collect info on the members or managers. Are you buying for cash or using traditional financing?
Clint how much do you charge? I’m in Indiana, how does all this work?
It would depend on your situation. In the show notes there is a link for a free strategy session if you would like to discuss your options.
I opened up a member llc in texas before I seen your video I used my address as the business address and I used legalzoom can I still use a wy llc and fix the ?
Yes but we would use a personal property trust in between as a buffer to provide additional protection.
Great info!
Wagner Pinheiro
Thanks for watching.
Hi a follower here.
Can u get fimamcing on an anonimous based LLC? I guess the answer , is a strong no
Honor with thanks LLC working with me but I am agree but I have no money pay and only take care of sylhet Bangladesh
OH SHIT! .38 secs I paused u and realized u look like Matt Damon! Anybody ever told u that?
😂😂
*Great content!!!* _How does Massachusetts operate?_ *Is it best to be a member managed or manager managed for anonymity?* *Does transfer tax apply for LLCs and not nominee trusts?* 🤔
We use member managed with paper filing of the articles to keep information private. Yes a land trust is a great choice in MA.
Hi Clint, your videos are great! Thank you so much. My Dad has three rental houses on one legal property and I want him to start up LLC's for asset protection. Do you know if it's possible for him to set three LLC's up on the one lot of land or if the land would have to be subdivided first? One last question, two of the houses on the lot share septic. Do you know if this prevents them both from being able to become individual LLC's, even if we were to subdivide the land? We are in MD.
Thank you,
Matt
You could subdivide then place each property into a separate LLC (best approach). Second would be to set up 3 LLCs and deed the property to the 3 LLCs as a TIC and indicate that each LLC holds title to a different address. This is not as strong as the first solution.
@@ClintCoons Thank you so much! You seem very and knowledgeable about what can be done and your videos are super helpful. I will keep watching and learning as much as I can. Thanks again!
Matt
New subscriber here. I'm a Toby Mathias subscriber which is how I found you. Thanks for the great information. I recently inherited assets from my father, one being a 2 family house located in New Jersey. I live in half of the property and he lived in the other half which I will soon be using as a rental. I would like to purchase more property as well. I do not have an active business or a partnership. What is the best LLC to set up for anonymity as well as optimize tax strategies given the estate inheritance.
The inheritance should be tax free it is is under 11MM (federal - I understand NJ does not impose any estate tax). If you want anonymity for your NJ investments then your best structure would be to set up a WY holding LLC and have it be the member/manager of a NJ LLC.
3:35 start
Home building company with multiple members, any advice for this? I want to build multiple homes at the same time with multiple people. Currently doing owner-built, and our funds/expenses are commingled between properties. Would like to have liability protection, with each member liable to only one (or more) house.
We're currently building for cash, but may get loans in future. How would that work if we have properties titled/owned by business?
We are also planning to have long-term rentals in the future.
Best solution would be to get a strategy session. If you are working with the same partners then it is simpler but if your partners will be different on every deal then it will require separate JV LLCs for each flip. Also you just gave me an idea for a video. Thanks.
Hey Clint! I bought a rental property before I found your video and learned about the holding LLC. I know have the structure set up (WY holding LLC and NC operating LLC for the rental). Do I do a warranty deed of the property to the NC LLC OR THE WY LLC?
NC LLC because it will hold the property.
Can you still assign the equity interest in a LLC to a foreign Hold Co , LLC,. Either or WY or DE ? After it was created in Florida ?
Yes you can.
Hey Clint, this is Lee Gray from Kentucky Dawson Springs, KY 42408. I will be calling you and getting you to help me to set up LLCs.
Great
California
I ca hired you.
😊
This knowledge is worth more than what I'm paying for youtube premium 👍
Wow, thanks!
@@ClintCoons No. Thank you! I'm just sitting here listening to this treasurable knowledge while you put in all the work! So, thank you and I sub
I hope there's still at least 14,000 rental property owners in America and they have it all sold to blackrock...