Thank you for being such a responsive content creator. I really believe in your work and brand I find myself recommending your content more and more! Very informative and professionally delivered.
@ClintCoons
Жыл бұрын
Awesome! Thank you!
@ALandryThompson
3 ай бұрын
@@ClintCoons Do you need a land trust if my grandparents donated the home to me and I transfer it straight to the LLC? I just formed the WY holding and My State LLC. Does the home go in the state LLC, not the WY holding?
@michellesilva6515
Жыл бұрын
This information is incredible - thank you so much for explaining this process in such a clear way
@ClintCoons
Жыл бұрын
Michelle Silva Thanks for watching.
@ccbruin53
Жыл бұрын
Hi Clint, question about this structure: I have 5 rental properties, so the ideal structuring would be 5 different LLCs, 5 different bank accounts, 5 different fees to maintain the 5 LLCs, etc. This just seems difficult to manage and scale…as you acquire more properties, how does the structure change or does it change at all? Love your content, thank you so much!
@ClintCoons
Жыл бұрын
It changes as you acquire more and can take on more risk because you have more assets. I typically tell people to consider grouping properties at about 15.
@nathanbritz5593
Жыл бұрын
Excellent content Clint. Thank you for being so transparent and clearing up the confusion!
@ClintCoons
Жыл бұрын
Glad it was helpful!
@ColoradoLowFeeListing
Ай бұрын
So the Garn st. Germain act allows this under the condition it is a revocable living trust however, it also works only if you're the beneficiary of the trust versus the LLC. The issue is legal liability still falls back onto the trust because the LLC is just a beneficiary - not the owner.
@danielleramirez6487
2 ай бұрын
Hi There! Thanks for all this great info. Question - we already have our home in a Revocable Living Trust and it has been our primary residence. Now we'd like to rent it out. This may be a stupid question (so apologies in advance) - do we need to switch it to a Land Trust or are we ok to do these same steps with our revocable living trust?
@Anonimity777-bm5nc
6 ай бұрын
Hey Clint! came across your channel recently and I really love your content man! Thank you for providing this great educational content. I just want to know, would the LLCs have to be established in the same states as the Land Trusts? Could they be owned by WY LLCs for anonymity purposes?
@annishenko
Жыл бұрын
Excellent
@ClintCoons
Жыл бұрын
Ann Ishenko Thanks for watching.
@timothybracken1728
Жыл бұрын
Great video and advice, i just read your new book and it was worth it ! Super detailed
@ClintCoons
Жыл бұрын
Awesome, thank you!
@stamatiosgeramanis8683
4 ай бұрын
Can this structure be applied to an existing personal property that I own and currently live in but one I'm thinking about turning into a rental and is currently under an FHA loan?
@kenburgio8070
2 ай бұрын
Thanks Clint! But what about Texas where land trusts are not available?
@ClintCoons
2 ай бұрын
Land trusts work in Texas. We use them all the time.
@TheAustin1976
Жыл бұрын
Great content! In this situation, should the LLC be in the same state as the properties and land trusts?
@ClintCoons
Жыл бұрын
Typically it is but not all the time. You can set it up both ways.
@rhettrucker9215
17 күн бұрын
Land trust is for privacy not protection. But if your tenants see you (or your LLC) name on the lease what’s the benefit?
@ClintCoons
14 күн бұрын
They dont see you as the owner but as a president of the entity.
@bigdealholding
Жыл бұрын
So much Value !! 🌟🌟 Quick Q: I have WST and WY Holding LLC . Which holding company to use for my CA LLC (rental) - 1. my WY Holding LLC or 2. My WST ( who has my WY Holding LLC as a trustee)
@ClintCoons
Жыл бұрын
What is the purpose of the WST?
@bigdealholding
Жыл бұрын
@@ClintCoons 📌Purpose: to avoid CA Franchise Board Tax of $800 x 3 = $2400 😢 📌Planned set up (not done yet ): WST acts as the Holding Company for the 3 CA LLC (rentals LLC + wholesale LLC + realtor commission LLC). 🤔 When forming the CA LLC's - do I put the WST as a member in the articles of organization ❓( so it acts as a Holding company ❓)
@deucealmightee
Жыл бұрын
I always click the like button! This is good info
@ClintCoons
Жыл бұрын
Thank you sir!
@groneass2006
Жыл бұрын
This video has answered some questions I have, I would definitely use this lawfirms services. But my question is once I buy in my name and do a land trust transfer, can I rent the home to my current llc as I live in the property? I'm already self employed.
@ClintCoons
Жыл бұрын
Yes but I dont think that would provide any tax benefits.
@FernandaFoertter
Ай бұрын
“Except in Florida” can you explain?
@RachelNemeth-vy7kn
Жыл бұрын
Your videos are excellent. Thank you! We have two homes on our property - one is our main residence and the other is a Tiny Home, which we intend to use as a Short Term Rental. Our home has a VA mortgage. Can we put our property in a Land Trust with a VA loan?
@ClintCoons
Жыл бұрын
Yes you can.
@KittianToy
Жыл бұрын
Just commented on another video prior to seeing this one. I was approved for an investment loan and was told i should close in my name as your said because the LLC is less than 3yrs old. What are your thoughts on doing a quit claim vs land trust after closing to move the property into the LLC?
@ClintCoons
Жыл бұрын
1. don't use a quit claim deed because it can create title issues. 2. A land trust is always a safe route if you are concerned about the acceleration clause.
@kstevenson3504
Жыл бұрын
@@ClintCoons I feel like this is conflicting. 1) this is an investment loan. 2) You've stated previously that with the Fannie Mae Servicing Guide published December 8, 2021 moving a property into an LLC will not trigger the Due on Sale. This seems to be a clear case in which this should work but now you say put it in a land trust. Its hard for me to move forward because I feel I'm always getting conflicting info and when i talk to companies directly, I feel like either the person i'm talking to isn't knowledgeable or they are just trying to sale me their product. Sorry but i'm struggling here. Can you clarify? I'd like to get is resolved by the end of June so i can execute. I've been studying this stuff for 6+ weeks now. Thanks. Sorry if I sound a bit frustrated.
@Anonimity777-bm5nc
6 ай бұрын
can you use this same strategy when flipping houses?
@ClintCoons
6 ай бұрын
Yes but watch my flipping videos.
@amp7816
Жыл бұрын
How would you structure your RE portfolio so that you can qualify for a refinance mortgage loans? Having properties in entities not shown on a schedule E changes your loan chances. Right?
@ClintCoons
Жыл бұрын
Your real estate will show up on Sch E the question is page 1 or 2. The real question is the lender. If you are using a QM lender who underwrites with Freddie/Fannie then you will need to hold title in your personal name for the refi.
@GrimRaven
5 ай бұрын
Your website says that we should consult you if we're 3 months away from purchasing our first rental. Is it better to get the LLCs set up first if I would like the WY LLC and my state AR LLC for anonymity? I'm roughly 5 months away from my first rental and will be paying in all cash.
@ClintCoons
5 ай бұрын
Do you plan to refi the property after purchase and if so when?
@GrimRaven
5 ай бұрын
@@ClintCoons No, I’ll be buying the house all cash, no debt.
@sebastianschaffner112
Жыл бұрын
What would this same example look like? But if instead of paying with a loan I pay it in cash? what would be recommended? Can you make a video?
@ClintCoons
Жыл бұрын
Buy the property directly in the LLC.
@boomseen
Жыл бұрын
What is the best structure to buy a new rental property (cash) in Pennsylvania? You mentioned unrecorded deed for Pennsylvania can you please elaborate on it more?
@ClintCoons
Жыл бұрын
If buying for cash use an LLC
@terrycrawford6740
Жыл бұрын
Is your recommendation to initially have myself (a natural person) as the Land Trust beneficiary, then, assign beneficial interest to the in-state LLC? Or is it better to have the in-state LLC as the Beneficiary from the start? IIRC, I would want myself as Beneficiary initially so as not to trigger the Due On Sale clause. Kindly confirm. Thx
@ClintCoons
Жыл бұрын
You then assign the interest.
@ryanbatty19
2 ай бұрын
Do you personally offer coaching and advising?
@ClintCoons
2 ай бұрын
Not anymore b ut I have a great team.
Жыл бұрын
Looking to rent out a property that is paid off. Can I create an LLC and enter into a property management agreement with the LLC instead or should I create the trust to separate it from other assets?
@ClintCoons
Жыл бұрын
Not sure I follow the question. The property can be owned by one entity and managed by another if that is what you are asking.
@aeongaming2561
Жыл бұрын
Clint, could you instead close in the Land Trust -> State LLC -> WY LLC structure, then when you want to refinance, just restate the Land Trust as a Living Trust? I remember you mentioned this in another video as an option to refinance without doing it in your own name, but if you could refinance a conventional loan using this strategy, I don't see why you couldn't you just purchase using it as well.
@ClintCoons
Жыл бұрын
It would depend on your lender. Some do allow it but it is typically a non QM lender.
@aeongaming2561
Жыл бұрын
@@ClintCoons So could you do this with a Fannie Mae conventional loan for residential real estate (less than 4 units multi) ?
@ClintCoons
Жыл бұрын
@@aeongaming2561 Probably not. Close in your own name then move into an LLC
@aeongaming2561
Жыл бұрын
@@ClintCoons So you could only refinance (not purchase) with a conventional loan using that strategy?
@ClintCoons
Жыл бұрын
@@aeongaming2561 If you are using a QM lender then you will need to do both in your personal name. A non QM lender will permit the trust and or LLC
@josephr9459
Жыл бұрын
If you bought a property as your primary residence and have lived in for a year and have met the 12 month requirements by Fannie Mae Freddie Mack to begin Renting out. Are you able to deploy this same strategy for a property that is currently a “primary residence”. Deed to land trust assign beneficial interest to LLC and hold that LLC with a Wyoming llc?
@ClintCoons
Жыл бұрын
Yes
@bigrobigno
Жыл бұрын
Once property is transferred to the LT, and then to the LLC; how do we go about refinancing? Most lenders I talked to seemed reluctant to do it. Thanks
@ClintCoons
Жыл бұрын
Yes that can be an issue with any FF lender. We typically assign the LT out of the LLC and restate the LT to a living trust for the refi.
@Dthebestrapperalive
2 ай бұрын
If you have two land trusts assigned to one LLC, why do you need to assign the beneficial interest to yourself and then assign it to the second LLC ? Why can’t you just transfer from one LLC to the next LLC ?
@sjawad7299
Жыл бұрын
Thank you for the informative video. I would like to know what kind of protection this process offers. Specifically, if the property goes into foreclosure due to non-payment, will this process safeguard my other properties from potential risks?
@ClintCoons
Жыл бұрын
It does not protect against foreclosure because the bank has a secured interest against the property.
@sjawad7299
Жыл бұрын
@Clint Coons Esq. | Real Estate Asset Protection is there a way I can set it up where if one property that is in LLC goes into foreclosure then my other properties that are under my name or into different LLC are not effected?
@ClintCoons
Жыл бұрын
@@sjawad7299 Yes provided the other properties are not provided as collateral for the loan that results in the foreclosure
@ClintCoons
Жыл бұрын
@@sjawad7299 You should have the properties in separate LLCs.
@ClintCoons
Жыл бұрын
@@sjawad7299 That is the very reason why you keep your other properties in different LLCs to protect them for a bad deal.
@HB-cr1tf
Жыл бұрын
Hello CC, Looking for some guidance. I have a rental property in Los Angeles my 3rd year since purchase. Currently on a conventional loan with chase. My question is do I still need to set up the LT or go straight for the LLC + Holding company + Trust? I don’t plan on refinancing or tapping the equity any further the cash flow is good. Thank you in advance
@ClintCoons
Жыл бұрын
You could go straight to the LLC if it is a freddie fannie loan.
@city-munky
Жыл бұрын
Would this structure work the same way if I want to switch my first home that still has a mortgage into an investment property. Within a year, I'll be moving across the country for work, but I don't want to sell my current SFH, but instead use it was a stepping stone into RE investments.
@ClintCoons
Жыл бұрын
If the mortgage has been in place for 1 year then yes. If under 1 year then I suggest you use a land trust to hold title and place the land trust in to the LLC.
@city-munky
Жыл бұрын
@Clint Coons Esq. | Real Estate Asset Protection Thank you for getting back to me so fast. The mortgage would have been in place for 13 years by the time I have to move.
@susancallowayrussell1214
Жыл бұрын
Good information. I just went under contract on my first home. I’m approved for an investment loan. Trying to understand what you said about the land trust. It appears as though I will not need that and after I close, I move the deed into the LLC which I have already set up? I do plan to go to your class Saturday.
@ClintCoons
Жыл бұрын
Correct, you may want to transfer the property to a land trust then place the land trust into your LLC. Looking forward to having you attend.
@susancallowayrussell1214
Жыл бұрын
Trying to understand the purpose of a land trust?
@ClintCoons
Жыл бұрын
@@susancallowayrussell1214 Check out some of my other videos on Land Trusts - these should give you a greater understanding.
@klitsuk
Жыл бұрын
Great video! thanks!. This private assignment letter that I write and transfer the beneficiary, where should I keep it or to whom do I need to submit it to make it official ?
@ClintCoons
Жыл бұрын
Keep it with your documents. I would sign it via docusign to have a record of when it was completed.
@klitsuk
Жыл бұрын
@@ClintCoons How about if I scan and send it to myself. Does the timestamp on my email counts in court?
@ClintCoons
Жыл бұрын
@@klitsuk It could work but I would prefer Docusign or some other type of program that provides a time stamp.
@Jennielengo
Жыл бұрын
For the 1st property, I’ll need to put it in the land trust, and then set up an LLC and move the land trust into the LLC. So do we still need a holding company and a living trust ?
@ClintCoons
Жыл бұрын
If you want anonymity you will need a holding LLC. The living trust is an absolute must.
@Jennielengo
Жыл бұрын
@@ClintCoons Please correct me if I’m wrong for the necessary step: 1. purchase the property. 2. move the property into a land trust. 3. set up a LLC and move the land trust into the LLC. 4. create a living trust. 5. Assign the LLC to the living trust For now, if I create a LLC and get a conventional loan, I’m not sure if the lender will accept it.
@ClintCoons
Жыл бұрын
@@Jennielengo Yes you have the right plan of attack.
@Jennielengo
Жыл бұрын
Thank you so much Sir for sharing your knowledge!!
@mattabeln
Жыл бұрын
If you don't mind me asking: If I reside in IL, I set up the holding llc. in WY, how do I still keep the benefits associated with the holding company that is in WY if i'm residing in IL, doing business in this state, and purchasing rentals in the state of IL (each of these rentals would be in a series LLC)? Wouldn't I loose these benefits, or would the llc's in Illinois that own the real estate in still be covered by the holding company in WY? Thank you for your time, truly invaluable information here.
@ClintCoons
Жыл бұрын
Yes you would if you file your WY LLC in IL or use it to conduct business in IL. Thus, the WY LLC should never touch any business activity in IL.
@mattabeln
Жыл бұрын
@Clint Coons Esq. | Real Estate Asset Protection how then could I benefit from anonymity if living in, and doing real estate business in, IL?
@ClintCoons
Жыл бұрын
@@mattabeln The WY LLC will own the IL LLC, thereby keeping your name off the Secretary of State.
@kstevenson3504
Жыл бұрын
Every time I think I have a solution, I find another piece of information. Here is my situation: 2 Houses. 1 House in AL and another in GA. GA House - Primary residence, Fannie Mae loan, House Hack AL House - Investment loan, NOT Fannie or Freddie, Traditional rental. Given the Fannie Mae Servicing Guide published December 8, 2021, I finally thought it was safe to move both properties into an LLC when i move out of my primary. But in this video you seem to say that I can do it for investment properties but not my primary. (that was a shock to me.) Also you seem to be saying in another video that if you use a WY holding company, you can't build business credit (either as a holding company with AL/GA LLC in land trust or just placing the house in the AL/GA LLC) I emailed my initial contact at Anderson May 8th and never heard back. What is your advice? I've cris-crossed the moon and I don't get consistent answers.
@ClintCoons
Жыл бұрын
K Stevenson please email me directly and I will ensure someone contacts you. My email is ccoons@andersonadvisors.com. In regard to your question, I would move the properties into separate land trusts then place them in the LLCs. I would use the land trust to protect against the due on sale clause. I know the FF servicing guidelines state the lender can not accelerate but that only pertains to situations when the loan is owned by FF not where the lender still holds the loan.
@kstevenson3504
Жыл бұрын
@@ClintCoons thanks a million!!!
@MikeBrownphx
Жыл бұрын
Where is the event at? I looked at the website but didn't see where it's at.
Do I still need a LLC if the land trust is formed by a Delaware Statutory Trust sub-trust/series?
@ClintCoons
Жыл бұрын
I would make it the trustee of the various trusts.
@antoniogiannini9049
Жыл бұрын
If your buying real estate and its still in the banks name is it still a problem if you get sued you dont own it technically?
@ClintCoons
Жыл бұрын
You have equity in the property so a creditor could take this from you if he obtains a judgement.
@antoniogiannini9049
Жыл бұрын
@@ClintCoons does a home stead exemption help with creditors taking equity ? Thanks again for your time and reply….
@brittany-shey2055
Жыл бұрын
I’m setting my llc up as single member , manager managed. What do I need in an operating agreement? I got on your website last week and registered for someone to call me but no one has called yet. I need a lawyer and assistance. I’m in indiana, setting llc up in Kentucky because I’m about to start doing rental arbitrage asap.
@ClintCoons
Жыл бұрын
Yes you do need an operating agreement. I looked up your name and did not find a record created in our system. I think your info did not go through. My assistant, Deborah Lewis, dlewis@andersonadvisors.com can coordinate a strategy session for you.
@cmdv42
Жыл бұрын
💯💯💯
@ClintCoons
Жыл бұрын
Thanks
@Jennielengo
Жыл бұрын
I’m living in GA, can I still use your Law Firm services?
@ClintCoons
Жыл бұрын
If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession
@Jennielengo
Жыл бұрын
@@ClintCoons Thank you so much! I truly appreciate your time for answering all my posted questions!
@UltimatHedgehog
Ай бұрын
Is there still risk to have multiple properties in one LLC if in your state a charging order is the sole remedy?
@ClintCoons
Ай бұрын
Yes, because if a property causes any harm, then all of the properties in the LLC are at risk.
@samgrieg
Жыл бұрын
so in Florida (the only state?), having a land trust shields assets from lawsuits?
@ClintCoons
Жыл бұрын
Yes
@zalezrealty5135
Жыл бұрын
FIRST... Have cash flowing real estate, a very good cash flowing real estate assets and then consider all this very interesting legal scrabble.
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