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@cathenido1624
10 ай бұрын
I've come to realize that the key to amassing wealth lies in making sound investments. I purchased my first home at the age of 21 for $87,000 and sold it for $197,000, My second home, acquired for $170,000, was later sold for $320,000, and my third property, purchased at $300,000, fetched $589,000, with buyers covering all closing costs and expenses. Not reaching a million before retirement feels like an unfulfilled goal.
@IamDannyStone
2 жыл бұрын
Great video, you broke down the LLC structure in an easy-to-follow, step-by-step way. Much appreciated!
@Kkamp
Жыл бұрын
here in cali. i plan on renting out my primary home at the end of 2023 making it my first rental. ill be buying another property to live in making it my new primary. will it be difficult to transfer my rental into an LLC when i still owe on it? here from you soon 100.
@toddw.sampsell4058
2 жыл бұрын
Okay sounds great and I liked what I heard here - but how do you set up a land trust each time you need one ? Is there a form where you register the property with the county you are in to make this happen. Go to an attorney is an option - but if you want to do this on your own - can you explain the steps on a video? Thanks.
@theofficialgaro
Жыл бұрын
I have the same questions. Have you found the answer?
@janicebarbee4208
Жыл бұрын
I love u Jamel!!! Your common sense strategies are exactly what I need as a beginner. My follow up question: does this mean you have a different LLC (with land trusts per property) for each state you are investing in? I have a LLC set up for North Carolina, but am very interested in bidding at Pennsylvania judicial tax sales! You are an extraordinary teacher and I am grateful that you are choosing your position to share your experiences and lessons😊
@samsangiorgi5620
2 жыл бұрын
Loved these explorations. Better than a lawyer sometimes. Being a home owner myself, this gives me better idea of how to protect myself. Great video!!! 👍👍
@jesham7627
2 жыл бұрын
The land trust method seems ideal for the buy and hold strategist. I like the llc for wholesaling especiallywith today's regulations. Thanks Jamel!
@kristinaharrington6179
Жыл бұрын
Can you explain more into the landlord trust method?
@SanMan10100
2 ай бұрын
Sir why do you like an LLC for wholesaling? I'm under the impression that when wholesaling an LLC wouldn't really be necessary since you wouldn't be liable for anyone getting hurt in it bc you won't be leasing it out to tenants. So I guess these regulations you mention must make you liable for something. What pray tell?
@jamelgibbs
3 жыл бұрын
↓ Click the link below to become a subscriber ↓ kzitem.info Also, share and leave a comment below.
@saintrotheljudah2801
Жыл бұрын
I know this is an old video but my concern as far as privacy is that anyone can search my llc after they discover it as owner of the trust. If it's a single member llc, they can make a reasonable conclusion. Is there a way to conceal this 100%?
@thebeasyband9425
9 ай бұрын
@jamelgibbs When you say personal rep. You mean the trustee, correct?
@thangn.8160
8 ай бұрын
@jamelgibbs when do you set up the land trust? Is it when you're in the process of closing on the property so the title company designates the land trust as the owner or after you get the keys to the house to start the land trust process?
@infamist
2 жыл бұрын
I have some questions in regards to how we put these properties under a land trust or an LLC without compromising the protection. I would also be willing to pay for your time for it. Can I schedule a call with you sometime?
@harinat
Жыл бұрын
If I have mortgage with bank on property, how does it affect if I have individual LLC for each property with mortgage or having trust for each property that has mortgage . What should I tell to Bank. Do I need to change the title when I move the priperty either under llc or trust?. Please explain
@yung_tuber4732
2 жыл бұрын
A wealth of knowledge, very informative sir. My husband and I have lots to discuss as we are looking to start on the real estate journey. Thank you!
@jomarleonard9998
3 жыл бұрын
Appreciate your style of teaching . I took action, this past weekend. Created a list driving 4 dollars here in the Charlotte NC area. Is there away I can contact you for partnership or mentorship?
@jamelgibbs
3 жыл бұрын
You can check the video description for info how coaching.
@mizzwendy8970
Жыл бұрын
YES, YES! Thank you for making these educational, concise videos! They are Extremely helpful! No, they are life changing. Again thank you, I appreciate you.🏘️👍🏻
@elviciosodelavida
Жыл бұрын
What if your a first time home buyer, and your planning on buying a duplex. I’ll be living in one and renting out the other. I don’t have a company started or llc, I just work my 9-5 job and a side job. How would I go about putting my property under an llc if I’m planning to rent out Nextdoor?
@rauljaimes6739
6 ай бұрын
You ever get an answer?
@SevenTresevnatefuckdaopps7
4 ай бұрын
@@rauljaimes6739sign the papers to your llc
@TravisHLe
2 ай бұрын
Then ur just a tenant from your own company
@Sponsorship4u2
Ай бұрын
As a potential landlord I think it’s still a great idea to set up the LLC. If the tenant is hurt on the property or anything happens it’s a layer of protection for you as the homeowner
@phillyspeakss
4 күн бұрын
Not a expert but you can, you may have to pay capital gains tax if you sell it though.
@lashun1st
Жыл бұрын
Would it not be simpler to just file Wyoming LLC for each property? Or u do it the way for more cost effectiveness. What type of Trust is it? Land trust?
@jamelgibbs
Жыл бұрын
Great question. Depends on where you live and your end goal. I would talk to an asset attorney or accountant about that.
@hemalbuch
Жыл бұрын
If I have a LLC with an objective to work as IT Consultant can I use same LLC for Real estate investment?
@dmariabeauty
3 жыл бұрын
This is answering several questions I had, as I have been brainstorming a name for my real estate business. Right on time‼️
@jamelgibbs
3 жыл бұрын
💪🏾💪🏾
@kingsmotivationsuccess7526
Жыл бұрын
Where you able to set up your LLC?
@Stylenwavin
8 ай бұрын
@@kingsmotivationsuccess7526 Google LLC (your state)
@derrickbennett339
Ай бұрын
Jamel Man when i noticed u on the tube i knew right away i wanted to look and study every video. U one of the realist guys i know. Your every word is the gospel
@richstevenson1
2 жыл бұрын
Great video. Clear and easy to understand! Excellent presenation! Thank you from Philadelphia!
@jkgv1740
10 ай бұрын
Piratical Questions: Who will the tenants be paying rent to? The LLC or the Trust? Also, at which stage do you set up the trust? After making the offer and before closing?
@lashun1st
Жыл бұрын
Isn't the beneficiary responsible for the trust?
@jamelgibbs
Жыл бұрын
Usually it’s the PR
@fitwill73
9 ай бұрын
Thank you for a clear and concise explanation in this video! I am under contract for my first investment property, and this really helped me to make an informed decision for my business.
@ajmnv
Ай бұрын
Thanks! Very helpful. Question: setting up with different Trusts under one LLC, (I have 6 separate rental properties on different streets) would this be as safe or “cannot be penetrated” as an LLC ? The cost for LLC’s is very high in California. An answer from anyone from anyone would be appreciated. Maybe it’s that all the Trusts are under one LLC that it offers the same protection. Not sure.
@ambitiousbeauty1013
Жыл бұрын
Can I write off repairs on my rental properties on my taxes?
@jamelgibbs
Жыл бұрын
Yes. But talk to an accountant for validation.
@phillipshands2193
2 жыл бұрын
Learning a lot from your videos. Appreciate your time king! 💯💯
@13Daisha
3 жыл бұрын
Can you set up trust and have a mortgaged home on it? Are only homes that are paid off?
@jamelgibbs
3 жыл бұрын
Great question. You can put your house in a Trust even if you have a mortgage on it. Federal legislation passed in the 1980’s (the Garn-St. Germain Depository Institutions Regulation Act) says that the transfer of real property into a revocable living trust does not trigger what’s called a ‘due on sale’ clause in a mortgage-which would allow the lender to demand that you repay the loan in full, as if you’d sold the property to a new owner.
@nimishak4119
5 ай бұрын
Thank you so much. It was a great video. My question is that, has LLC every practically protected you from any circumstances? I mean all I hear is that "open LLC to CYA", but I was wondering has this ever worked in real world? This might sound like a stupid question, but I am a beginner, and beginners have stupid (but real) questions.
@Bosslady-ik6cc
Жыл бұрын
Hey quick question, if I currently live in PA but property is in NJ do I set up LLC in NJ or PA?
@Alex-ix8cd
2 жыл бұрын
What if I get 3 rental property’s my self and have it under the LLC , then get married and then divorced later on will I still keep the property’s or will we have to fight for it? (I’m 22 and single just wondering what would happen.) Thanks in advance
@romegq
2 жыл бұрын
Appreciate the video! You're clear, straight to the point, and you don't digress into a bunch of other gibberish like some other videos. 👍🏾
@jamelgibbs
2 жыл бұрын
🙏🏾
@SanMan10100
2 ай бұрын
Jamel should one form an LLC to assign properties? I'm under the impression that you won't be needing liability protection since you're never really the owner of the property and are only selling the sales contract to an investor. No? Am I mistaken about something here? What?
@outonbail4382
2 жыл бұрын
Very informative but a bit repetitive with a lot of the points.
@Product_snob
2 жыл бұрын
I have watched the video and now ready to move forward question the property is a lot and a house and it's already been purchased so can I transfer it to the trust on my own or will I need help moving forward I will definitely put all my properties in land trust now that I know thx
@00cocochanel000
11 ай бұрын
I'm in RTP area, a stay at home mom with no income. Id like to have a coach/mentor. I have social avoidance personality disorder, post partum depression, introverted. Everything playing against me but I'm curious if i could conquer real estate :/
@squirrelattackspidy
Жыл бұрын
Man, you are a wealth of information. Really good step by step overview of how to set up an LLC and what land trusts are. Do the land trusts offer any protection to the beneficiaries of the trust? For example, let's say I had a rental property in a land trust and a renter sued me (a beneficiary) about something that involved that property, are the damages capped to whatever they could obtain from selling it?
@rentospropertymanagementso4895
3 жыл бұрын
Very educative video about LLC. Thank you for the knowledge shared.
@jamelgibbs
3 жыл бұрын
Glad it was helpful!
@MichaelEller-v8e
Жыл бұрын
Thanks! I was told to do an LLC for each property which is expensive in my state. This strategy is a much better option.
@Theundisputedtruth
Жыл бұрын
Hey. Bro I'm looking to buy a piece of land with a business account , for 300 k which is more easier to get loans to help buy it , and how ,business or personal
@mattkolasinsky548
2 жыл бұрын
I'm not understanding how one can have privacy using a land trust that no one ever sees, and using an LLC whereby my info will come up. Even if they see that I'm listed as a member of the LLC they will know its me.
@jamelgibbs
2 жыл бұрын
Your LLC is simply the PR of the trust. Any company (including yours) or represent the trust. That doesn’t mean the company owns it.
@sjconley52
2 жыл бұрын
@@jamelgibbs Thanks so much for this informative video! I have a question (which I think is also what matt kolasinsky is asking). At 16:04 you mention that you, as a single member of your LLC, or you & your wife as partners, control the entity that in turn controls the trusts. If you are listed as members of the LLC isn't that public info? How do you maintain privacy if your names are on record with the LLC?
@samsangiorgi5620
2 жыл бұрын
My only question is, if you own property overseas, say in europe, do these strategies have the same effect or do i have fnd out what the legal requirements are for that country? Another words, at a “state” or “country” level?
@Kingquintes
8 ай бұрын
Great video! I definitely subscribed
@melissa2070
7 ай бұрын
This was an amazing video and has shedded clarity on a lot of questions I had. I am eager to continue watching your educational videos :). Sending positive vibes.
@jackies3242
4 ай бұрын
Good Information just confused if you get a trust document and your the only one who ever sees it how will anyone ever know it’s in a trust
@parrismcghee-beyjr4785
Жыл бұрын
Plz help bro..I have 2 LLC.. N I'm still broke... Plz
@Smileyb8711
9 ай бұрын
If a Land Trust doesn't offer asset protection, why would we want to do a LT versus a LLC?
@mistywhite8307
Жыл бұрын
What do you recommend for business address for LLC who does not have a brick and mortar?
@dmariabeauty
3 жыл бұрын
Wowwwww‼️ This is super interesting....and excellent info‼️💥💥💥💥
@jamelgibbs
3 жыл бұрын
Glad it was helpful!
@martintxca
Жыл бұрын
Where do I get the paperwork for the land trust. I’m in Texas
@kennethrobinson820
Жыл бұрын
have 30 grand want to know the best way to invest in buying propertysreal estate?
@donnabones1224
2 жыл бұрын
Love the information! Where can I get a Land Trust to use without an attorney? Thank you in advance!
@routerpete1674
Жыл бұрын
Thanks, Jamel. Very helpful video. I was intrigued by the Land Trust concept. Can you share more information on that? I was looking on Legal Zoom and didn't see anything on it. Thank you.
@Orion3000k
Жыл бұрын
Brother. I am studying these videos and truly thank you for the knowledge. Peace and much success to you. - O 👁💯
@ericklingaman1579
5 ай бұрын
So are taxes done for just the LCC or the land trusts separately if you have more than one rental property?
@paulettetchenang8622
Жыл бұрын
Very happy great video very helo
@careydennis9004
Жыл бұрын
So if you have one LLC in three trust how does the protection work can someone still sue you for what all three of the llc's are worth
@minahutchins9281
Жыл бұрын
Are you related to Gerald Wright? You look like you could be his son.
@ladylovelace501
2 ай бұрын
Can this LLC method be applied to an apartment that you live in?
@kenpianin1939
3 жыл бұрын
GREAT VIDEO ABOUT LLC'S. KEN PIANIN
@jamelgibbs
3 жыл бұрын
Thx
@LooseJointhiphopdance
2 жыл бұрын
Hey Jamel. I’m also Jamel. Loose Joint is my dance name. I have been looking into the document called a Trust. Thanks for breaking down the advantages and privacy you get with trust being the joker of the companies. My question is what is the difference between the Holdings acting as the umbrella for all of your assets companies and a Trust that has the privacy?
@jamelgibbs
2 жыл бұрын
Watch this video for clarity: Land Trust vs LLC (Which is Better for YOU?) kzitem.info/news/bejne/26yqyImBr2tjmJg
@LooseJointhiphopdance
2 жыл бұрын
@@jamelgibbs Thanks a lot Jamel. Definitely will watch it multiple times to thoroughly understand. Salute
@johnmoore9830
3 жыл бұрын
Mr.Jamel,does this method apply to every State.
@jamelgibbs
3 жыл бұрын
Yes. But it's state specific. It may differ slighty from state to state.
@markjames6535
3 жыл бұрын
This is a great video, I want to ask you if I'm wholesaling do you think it a good idea to use land trust when I wholesale or just use it for Buy and Hold? Thanks in advance!!!!
@jamelgibbs
3 жыл бұрын
Check out this video for the answer: kzitem.info/news/bejne/y5Vp4J-VaYp2mWU
@raymondwilson6543
3 жыл бұрын
powerful infromation baby J... Thanks
@jamelgibbs
3 жыл бұрын
thx
@tanoshatee3384
10 ай бұрын
When using the trust method can a dba have authority or does it have to be an LLC?
@matthewrosas192
2 жыл бұрын
I just turned 18 and made a LLC and going to start my real estate portfolio
@Kiil6onYT
Ай бұрын
How's the business going now?
@langstonwashington4475
Жыл бұрын
Can you explain how getting land trust protects the property the same as getting each property under its own llc?
@andreajohnson6649
3 жыл бұрын
How do you setup a land trust and LLC when your property is in a different state than you work and live?
@MusafirsSoul
3 жыл бұрын
Enlighten pls
@jasonteresi3519
2 жыл бұрын
Always set up the LLC or Trust in the state where the property is. Each state has different rules and fees but it's pretty much the same process.
@augusthoerth1373
Жыл бұрын
Bro how can I get in contact to have a phone convo to ask some personal questions
@David_Quinn_Photography
2 жыл бұрын
great video, explained it way better than a lawyer and accountant I talked to did.
@theresaconyers1649
6 ай бұрын
How do you get started if you have bad credit
@Tinaj61
7 ай бұрын
I hope you are right, because everyone else lies,
@corrado352
2 жыл бұрын
very informative video but how does either option work when buying rental properties out of state? would you need to create a separate llc in the state the house is in or can you do the land trust? also, lets say you have 1 rental property and its out of state, do you need an llc in your home state AND one for the property ?
@staceystory9063
2 жыл бұрын
Thanks I will be getting Air and B properties.
@danebeardsley
19 күн бұрын
thank you this was very helpful
@KellySyverson-v2m
18 күн бұрын
Lopez Jason Lopez Donna Lopez Paul
@AberrantArt
2 жыл бұрын
When do you suggest using a trust with the company beneficiary vs using an LLC?
@edgardiaz2361
Жыл бұрын
DAM JAMEL THIS VID IS SUPER INFORMATIVE AND PERFECTLY WORDED … one of the best detailed and general llc explanations vids I’ve ever seen .. loyal subscriber for sure 💪💪💪god bless u n family my g 🙏
@jamelgibbs
Жыл бұрын
🙏🏾
@iamtracywilson
2 жыл бұрын
Question: At what point do you set up the property named llc or trust? 1. I will purchase all properties in an acquisitions llc (for credit building and hard money lenders) 2. I will quick deed into an anoymous holding llc (for protection) but do I need to do another llc or quick deed to get the property in its own llc? Just trying to understand the process step by step. I wouldn't want to set up property named llc BEFORE buying, but not sure how to buy it in acquisitions, name it property llc, and still transfer it into my holding llc. Hope I'm explaining this well. Thank you so much.
@theofficialgaro
Жыл бұрын
Were you able to find the answers? I have similar questions.
@079402
Жыл бұрын
make sure your address is brick and mortar do not use PO Box for an address Use a real company number Get your EIN first! If you don’t you’ll have to change your address on your EIN Don’t forget your Dun and Bradstreet number you will need it for your business bank account Don’t forget your SIC Code and Naics code for Real Estate You can go the Land Trust route but i highly recommend to put your properties in a LIVING REVOCABLE TRUST …
@jessiemonterroso2310
2 жыл бұрын
Hi Jamel, I just started watching your videos and let me tell you, I'm so happy with the help you are providing, congratulations, I'm an investor here in Oklahoma city and I have a question for you regarding the way you're setting up your land trusts by having your LLC as the trustee of your properties, the trustee is public record correct?once the land trust is registered as the owner of the property , the trustee is also recorded correct? If you are sued and lawyers are digging trying to find your assets they can find out who the members of that LLC are and if they somehow find out that more properties are controlled by same LLc, can that be an indication to them that every property has the same beneficiary?and request a Judge to reveal the beneficiaries of every trust they linked together ? Also, do you think by having a bank or a law firm as trustee would be better? And the beneficiary a revocable living trust? Thank you in advance and keep up the good work!!
@tinamariajordan5799
Жыл бұрын
Just an FYI....the setup is in no way a method for you to run or hide from any property liability. Insurance covers general liability, etc. Businesses or LLCs, Corps are treated as Individuals. We're living in a world of greed and blame. The objective is to clearly define each property as an individual business or create a trust. In essence, the trust owns the property and regardless the trust would be liable. The objective is to protect you from being personally sued for everything you own. You're separating business liability from personal. A trustee costs money and they for the most part, manage and protect WEALTH. A beneficiary is the recipient of assets in case of your death. You need to consult with the professionals as Mr. Gibbs stated.
@369PennState
Жыл бұрын
@@tinamariajordan5799Perfectly stated.
@chefphilly9799
Жыл бұрын
Are you taking any assistants / students 🙏🏾
@sluke22
4 ай бұрын
naics code for rental property?
@MrOPM-vc6ow
Жыл бұрын
How do you setup a land trust without an attorney?
@C.CHILLZ
2 жыл бұрын
If I'm going to Slow-Flip a $50k single family, can I purchase it under an LLC or Trust? If so, should it be done after or before purchase? Thank you for your time.
@jamelgibbs
2 жыл бұрын
Do the trust. Set it up before or at closing.
@kennyopel
2 жыл бұрын
Hey boss, great video as usual. To set up a trust, do you make the trust agreement yourself or you need get a trust document by the state?
@jamelgibbs
2 жыл бұрын
You can do it yourself.
@petdiariesstephanierogers
Жыл бұрын
I definitely benefited from this. Thank you!
@azraaloyaltytravels
2 жыл бұрын
Can you have the Trust own your LLC and you place yourself as the owner of the trust? You use the Trust as a shell company?
@jamelgibbs
2 жыл бұрын
Watch this video for clarity: Land Trust vs LLC (Which is Better for YOU?) kzitem.info/news/bejne/26yqyImBr2tjmJg
@tj7280
2 ай бұрын
Very good information
@eshanahyapha3227
3 жыл бұрын
What if you already have an LLC but need to get it reactivated?
@jamelgibbs
3 жыл бұрын
Make sure it's still available and then pay the annual fee.
@eshanahyapha3227
3 жыл бұрын
Thank you!
@instrinsiclove
7 ай бұрын
To my understanding, you do have to pay to file land trusts. Has that changed or is there another method for that to not happen?
@nflzae3229
4 ай бұрын
LLC have its own credit it’s call business credit
@hopeross-5353
11 ай бұрын
How do I buy your Addendums
@DeanHoward-p1d
4 ай бұрын
How do you buy realastate in a another state different from where you live
@jamelgibbs
3 ай бұрын
By simply doing it. I buy in multiple states
@Noway673
Жыл бұрын
My cousin so dumb she thought LLC was short for LLCool.J.😅
@dekphreak
3 ай бұрын
😂
@SpenderRon-b8n
23 күн бұрын
Ethan Village
@killerspankyy892
Жыл бұрын
Thank you your helping me and I won’t forget it
@jamelgibbs
Жыл бұрын
✊🏾✊🏾
@GentryWillits
8 ай бұрын
You speak so clearly. 👍
@diesur7126
Жыл бұрын
Very informative video. So do setup the LLC first then purchase property? Also, if you already have a property and want to move that from your personal name to an LLC entity, can you do that?
@brianc9036
Жыл бұрын
Depends on the state if you want to move a property from personal to a LLC. Some they force you to sell it to yourself. Also if the property is not owned outright then you have to work with the bank or whoever owns the mortgage to transfer the loan from the you the person to the LLC.
@diesur7126
5 ай бұрын
I posted a comment on this thread about a year ago and now I’m back. Again this video is very informative. I, too, is based here in North Carolina. Just spoke with a CPA to file and structure the LLC correctly tailored to my need. Everything mentioned in this video is exactly how I’m going to structure my business. So again, thank you for this content! Keep up the great work and continue to share the wealth; not monetary wealth but informational wealth.
@jamelgibbs
5 ай бұрын
Thanks for sharing. Glad it was helpful.
@chuchoxpress3503
Жыл бұрын
How I can setup a trust ?
@BoArtTakeOver
Жыл бұрын
Hello, thanks for this. I’m new here wondering if you have any videos on investing? I don’t plan to get into real estate but I could use a “ investing for dummies” guide. Thanks
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