#1 Entity for Real Estate Investors During COVID-19 - (NEW!)
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- Опубліковано 29 чер 2024
- Forming an entity for your real estate investing is extremely important during these unprecedented times.
In 10 minutes I'll go over:
Buying and acquiring property with very little money down during COVID-19.
What to look for when the markets are in a certain flux.
What makes subject to real estate investing unique for savvy real estate investors.
How to take advantage of using the sandwich lease options.
What you need to know when it comes to forming an entity for real estate investing is covered in this short video.
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ABOUT CLINT COONS
Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
Telling my secrets... my 2 year strategy. Love this channel.
Excellent work Clint! Thanks so much!
Been waiting forever for a Sub To video. Great video. Thanks for this!
Welcome!
This is brilliant!!! Thank you for sharing your knowledge 👍🏻
Glad you enjoyed it!
Love your material Mr. Anderson, you are a wealth of knowledge. Thanks for your servant leadership.
Much appreciated
Great stuff. Now I know where the UA-camrs got this from. Keep the power coming.
This isn’t new to UA-camrs or any real estate professional, they’ve been on this for years. It’s just been trending for the last 5-6 years. It’s just apart of being a creative investor. And there are better options than the sandwich lease option.
Excellent strategy enjoyed your video.
Glad you enjoyed it!
This is what I want to do!!!!
You should be on the radio!!! Voice is crazy !!!
That is hilarious!! I think it would be interesting.
Do I retain the property tax rate that the previous owner had? For example, if I create a land trust for a home my in-laws own, at the time of transferring to my wife and I, do we keep their low property tax rate from the 80's? This sounds like a better option than them gifting the home to my wife or having us buy it from them. Am I right or is there a better option? In CA btw, thanks.
Yes if the property is transferred to your wife and you file a PCOR exemption. This will retain the property tax base. I would avoid the sale. Before you do it check with a title company to make sure you are preserving the exemption. We do this all the time and you should not attempt it without legal assistance.
Love your videos. Very informative. I would love to have more information on contacting you so that you may help me in protecting my real estate assets.
If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
Who is going to take care of repairs on the property? Also, what about rental insurance on the property if I'm not actually living there?
You still need to hire someone or complete the work yourself but use an entity to minimize your risk if something goes wrong. The LLC will be the insured.
Aren't land trusts revocable? What prevents the original owner from revoking it a couple of years later?
They are revocable by the beneficiary not the grantor.
Do you help structure these deals, with contracts, etc?
We do not draft contracts.
whats the best way to find "subject t" kind of deals?
Advertise
Are these your revocable trusts transferred into buy the property owner typically outside of the teeth of trustees, eliminating the potentiality of it having the ripped back by the teeth of a fraudulent conveyance? I may be misinformed but I thought that transferring the title, if it’s a irrevocable transfer, is good but that a judge can deem that if a person was still named on the mortgage It’s still fair game for clouding.
I am not aware of the rule you are referring to.
Are we required to inform the mortgage holder (the bank) of the ownership being transferred to the Land Trust?
No you are not. If you inform them this will only raise additional questions. If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
@@youngpark7444 The land trust document will list you as the beneficiary. Then bank will not see the assignment to the LLC
Who makes the Land Trust? You or the distress owner.
Either can set it up.
Whoa! - If I am the Seller, and you as the Buyer do NOT pay off my loan, than I am on the hook to the Lender. So, you, the Buyer, get all the upside on the use of the property, but if things don't work out, and you stop servicing the mortgage, than I am on the hook for the debt, and I no longer own the property... Is that what this scheme is? Seems extraordinarily SHADY.
That is one way to look at it or you might consider the seller was about to lose the house in foreclosure and the buyer, by stepping in, saved the seller's credit. Also, the buyer has risk, if the seller files for bankruptcy the buyer will lose his investment.
@@ClintCoons to clear the original distressed owner will not be able to secure another mortgage for living arrangements as they will still appear to be responsible for the mortgage on the home
@@danim6816 Yes that does happen in some situations. In the alternative, if the homeowner is foreclosed on it will destroy their credit. For the seller, it comes down to what is the best longterm solution for them.
Shady would be forclousing on a house you couldn't pay for and being embarrass in front of your family and friends because you were living in a house you couldn't pay for and your credit going bad. If everyone stayed in there house and foreclosed you would just have abandoned building all over America.Think about it you just help someone who couldn't help themself.
@@danim6816 Seller is so distressed that he cannot pay his dues on this home. How/why would he attempt to buy another one instead of fulfilling his current obligations towards existing home? ... Totally beyond my comprehension!!
*Sounds Highly Risky* (I'm sure in many states this creative financing is legal, would recommend you check your State laws)
1- you may over pay for the property in a declining market.
2- with a small margins, 🤔 who's responsible for repairs. If major you just lost your arse. Your out of the investment business.
Remember you are buying the property so, you as the buyer, are responsible for repairing the property. This is a sale transaction so you have every incentive as the buyer to protect your investment.
@@ClintCoons EXACTLY 💯
Not every business is for everyone! That's why society has all types of people. The regular employees with fixed hours 5 days a week (secure people who don't want any kind of risk), and then various levels of risk taking people. I am not a 9-5 person and willing to take small risks in a business which appeals to me genuinely as per my standards