You’re limited to 10 properties on your name until you have to go commercial loans/blanket loans. Always go LLC. Yes you will have a higher interest rate but with going the LLC way. You can act as a guarantor but the loans will not report on your credit report. You can claim millions in depreciation, expenses and income. You will beat the overall tax system. The next best thing is that you limit your liabilities. Not all of them but most. If you get creative with some attorneys, you can set up shell corporation in the Cayman Islands and funnel the money there and borrow against that company to get unlimited funding without any tax liabilities.
@@TheLosrodri LLC's are a joke to make, you can do it yourself. Changing the deed can either be done through a lawyer/title company, or done by yourself. It is a bit more complicated than it is to make an LLC. The way you do it yourself is through something called a Quit Claim Deed. If you're doing it through a lawyer/title company, the cheap way is to do it as a Quit Claim Deed, but some will refuse and make you do it as a Warrantee Deed. I'd recommend going through a real estate lawyer/title company to transfer the deed either way, but to do the LLC yourself. The smartest way to structure your LLC is to have an LLC for every single property you own, that way if someone tried to sue the property owner of one of your LLC's, they're not all linked together and they're all individually protected.
@@JayLupe I believe you can have LLC's inside of an LLC, or LLC's inside of an scorp. So you can have 30 LLCs inside of one main LLC. When you start to go that deep into accounting though, you should seek professional help. Having a couple of units and a couple of LLCs you did yourself is one thing, when you scale and have that much, you need professional guidance. Both from a tax efficiency standpoint, and a liability standpoint.
@@jimonesti7805You can buy in your personal name if you like. If your tenants fall and seriously get injured. They have your name, there attorney will go after whatever assets in your name. If you have an LLC more than likely there going after what's in the LLC.
@@jimonesti7805 probably because he's a home lender maybe . But if you buy in your name and try to switch it too a LLC later. The home lender can ask for all there money you owe upfront! Which isn't good! It's just so much better to use a LLC.
Hey! I love your content! We are looking for speakers that would want to be a part of our events in Utah, Las Vegas and Arizona. Would this be something you'd be open to hearing more about?
@lovelyrich7488 I’m researching this too. I’m looking into FHA and FHA 203(K) mortgages, duplexes and quadplexes in my area, how to use a broker, and free calculators that you can use to keep track of costs to see if you are making a profit. In the mean time, just working to keep my credit score high and possibly increase my salary through my full-time job.
You’re limited to 10 properties on your name until you have to go commercial loans/blanket loans. Always go LLC. Yes you will have a higher interest rate but with going the LLC way. You can act as a guarantor but the loans will not report on your credit report. You can claim millions in depreciation, expenses and income. You will beat the overall tax system. The next best thing is that you limit your liabilities. Not all of them but most. If you get creative with some attorneys, you can set up shell corporation in the Cayman Islands and funnel the money there and borrow against that company to get unlimited funding without any tax liabilities.
ALWAYS LLC. YOUR WIFE CANT TAKE IT AFTER A DIVORCE.
Prenup?
@@jayroopbajwa1939those are starting to get overlooked 😭
Thx for the comment
Thx for the comment
That’s all I need to know 😂
Then after you buy in your personal name, you move it into your llc.
Can that be done so readily? How involved is that process for folks who live in the States?
Thank you 🙏
@@TheLosrodri LLC's are a joke to make, you can do it yourself. Changing the deed can either be done through a lawyer/title company, or done by yourself. It is a bit more complicated than it is to make an LLC. The way you do it yourself is through something called a Quit Claim Deed. If you're doing it through a lawyer/title company, the cheap way is to do it as a Quit Claim Deed, but some will refuse and make you do it as a Warrantee Deed.
I'd recommend going through a real estate lawyer/title company to transfer the deed either way, but to do the LLC yourself. The smartest way to structure your LLC is to have an LLC for every single property you own, that way if someone tried to sue the property owner of one of your LLC's, they're not all linked together and they're all individually protected.
@@Aubatron Great info! Thank you for educating the people.
@@Aubatron So if i plan to have 30 fourplex units in the future, im going to have 30 LLC's?
@@JayLupe I believe you can have LLC's inside of an LLC, or LLC's inside of an scorp. So you can have 30 LLCs inside of one main LLC. When you start to go that deep into accounting though, you should seek professional help. Having a couple of units and a couple of LLCs you did yourself is one thing, when you scale and have that much, you need professional guidance. Both from a tax efficiency standpoint, and a liability standpoint.
This is the best video out there. Helped me out so much! No bluff, straight to the point & good information.
Thank you
Very short, and very very very informative, thank you 🙏🏾✨
Thank you
You must be a lender. Its certainly better to buy in an LLC if you can
Tell us why you think buying in an LLC is better.
@@jimonesti7805You can buy in your personal name if you like. If your tenants fall and seriously get injured. They have your name, there attorney will go after whatever assets in your name. If you have an LLC more than likely there going after what's in the LLC.
@@jimonesti7805 probably because he's a home lender maybe . But if you buy in your name and try to switch it too a LLC later. The home lender can ask for all there money you owe upfront! Which isn't good! It's just so much better to use a LLC.
@@stanmoney8470tenant insurance doesn't cover injuries ?
Love the suit I should get one for my dad!
😂😂
Great suit 👌🏽
Thanks 😁
Just The video I'm looking for. More research on that is needed.
Hey! I love your content! We are looking for speakers that would want to be a part of our events in Utah, Las Vegas and Arizona. Would this be something you'd be open to hearing more about?
Oh wow, this is super informative. TY!!
How can I start real estate with no money? I see things all over the Internet and you tube saying it can be done so I was curious. How?
With business credit, private lenders or sba loan.
@lovelyrich7488 I’m researching this too. I’m looking into FHA and FHA 203(K) mortgages, duplexes and quadplexes in my area, how to use a broker, and free calculators that you can use to keep track of costs to see if you are making a profit. In the mean time, just working to keep my credit score high and possibly increase my salary through my full-time job.
You can just buy it on your personal and quit claim to LLC. You don't have to buy the LLC rates
Quit claim deed before doing the refi and quit claim after the refi again.
thank you for commenting
Explain it more please 🙏
Can you buy it originally in your personal name and then transfer ownership over to your LLC?
The bank could call your loan, meaning the bank could force you to payoff the loan 😅
you can switch it to your LLC but you will pay fees and costs and transfer tax which can add up quickly
you can let the bank know and they will most likely accommodate the transfer...
Hi I want to start a business I have no idea where to start could you give me a few pointers?
absolutely, real estate business?
Thank you for the advice, Jim 💪🏼
Thx!!
Nice Suit👍
thx!!
How do transfer your primary residence property into a rental?
I need that suit ASAP! Where did you purchase it from?
Asda
@@The_Unintelligent_Speculator 😂
Thx !
😂😂😂
😂😂
Did the house in your personal name your primary property?
Personal
Isn’t your interest a writeoff anyways?
yes but there are other advantages as well
Can you qualify for more than one property on your personal name?
yes you can
How many properties can I have under my personal name?
As many as you like but after you finance 10 financing gets a little more difficult
Why do you look like you’re auditioning for Boardwalk Empire?
OK I keep hearing tnot put your name but you saying put your name on who is right?
both is correct, they each have benefits...decide which benefit is most important to you
𝘱𝘳𝘰𝘮𝘰𝘴𝘮
thank you for commenting on my video
can anyone help out a broke hard worker $ToxicVxpe
of coarse, any interest in getting into real estate?????!!!!!!