Glad I watched this. Solid information. About to turn 40 and we are in the process of buying our first home. Following up by paying off all other debt and then buying investment properties. Starting late in life but better than never.
@janolimit22
8 ай бұрын
No, you're not late. You're on time, buddy!!! BTW most millionaires became millionaires in their 40s and 50s🎉
@404TRUCKERTV
5 жыл бұрын
i say, get an llc as a property management co, to market your properties, collect rents, hold cash, and hold your property in your name. get an umbrella policy to cover yourself. evictions and loans are easier when property is in your name.
@markpatterson8208
5 жыл бұрын
I'm confused.. So is it recommended to have the property under your name directly or the LLC? I noticed you mentioned an umbrella policy to cover myself. would that be for if property is under my LLC or my name.
@kewlace
5 жыл бұрын
I think the IRS might have an issue if the LLC is collecting rent as income without having any assets that produce said income. If the LLC is the one invoicing rent, isn't supposed to collect and pay sales tax on each payment?
@404TRUCKERTV
5 жыл бұрын
@@markpatterson8208 in the beginning stages, you are your business, it doesn't matter how many llcs, corps you have. any attorney and or judge would see through your little operation and sue you personally. although, he is correct, it starts makes sense when your portfolio is substantial, lets say approaching $200k in value, beyond any liens and insurance limits. if you have mortgages on those properties, then it doesn't matter lol.
@jetah50
5 жыл бұрын
@@kewlace I'm pretty sure the LLC would just be a Property Management company which doesn't need to own assets to accept checks from tenants.
@onetwothree4148
5 жыл бұрын
@@kewlace no, that is incorrect. The IRS doesn't collect sales tax. Rent isn't subject to sales tax in any state that I know of, and depositing rent checks on behalf of property owners is what every property management company does everyday.
@bleachie
5 жыл бұрын
Great video. I’ve been reading a lot on LLCs, and this summarized many hours of research.
@coachpierre876
5 жыл бұрын
I second that!
@jackmichael7342
5 жыл бұрын
Only graham tells me to smash that like button
@orionbredda7827
5 жыл бұрын
Straight facts
@abukargeedi2481
4 жыл бұрын
On god bro
@rentalsandrealtors7296
4 жыл бұрын
Facts dude
@WPaKFamily
4 жыл бұрын
YES KING
@charlottebingham4103
4 жыл бұрын
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@Rajkumar-oc3by
2 жыл бұрын
simple yet accurate explanation
@prasadisfat
5 жыл бұрын
Wow. Easily the best biggerpockets video I've watched
@phantomphoenix9539
3 жыл бұрын
The answer is yes. LLC's force you to separate business and personal. So when you do get sued(you will get sued at least once as a landlord, its very rare that you dont) your personal assets are protected from the lawsuit which will be against your LLC.
@gavip24
2 жыл бұрын
I heard you can pierce an LLC though
@charlesg7926
2 жыл бұрын
@@gavip24 Gabriella is right. My best advice is to not rent to bla.. kk people. And white people are bad too. Renting to Latin/Latina people is the best. They pay on time and don’t wanna sue bcuz they don’t want law/govt involved at all
@gavip24
2 жыл бұрын
@@charlesg7926 🤣🤣🤣 what kind of comment is this? Lmaoooo
@charlesg7926
2 жыл бұрын
@@gavip24 The politically incorrect but true kind. Hey, at least I’m complimenting Latin people! 😘
@gavip24
2 жыл бұрын
@@charlesg7926 u do realize that Latinos are black white and or native right? I happen to be a mix so yea ur comment is stupid dumb. 🤣🤣🤣 Especially when I rent out to a mix of people.
@KRoseB
2 жыл бұрын
Thanks Brandon, real info here
@francismansapit2643
4 жыл бұрын
Thank you ,, this is Great ... LLCs and incorporating them could be and are very confusing . Especially for me . So many things to consider what exactly will it be used for etc... thank you for the insights!!
@nicholasrobles3776
5 жыл бұрын
San Antonio has some good beans... and good investment properties.
@nataschabanda1591
Жыл бұрын
I love every I was not dotted and every T was not crossed 👌🏾
@cherylm2C6671
4 жыл бұрын
Good Day, and Thank You!
@classieswaisa
3 жыл бұрын
If the tenant sues for falling on snow and you have a management company that was supposed to shovel the snow could you sue the management company?
@briansmith6297
6 жыл бұрын
Should you have a separate LLC for each property? I have four and I’m hoping to buy another one fairly soon.
@onetwothree4148
5 жыл бұрын
Hell no.
@jaandel1
5 жыл бұрын
Yes there are many builder that have the property address as llc
@Notme-tq4xs
Жыл бұрын
no, get liability insurance
@stevenmoreno9405
5 жыл бұрын
You da man Brandon! Thank you for making this content!
@wallacewoodworks9582
4 жыл бұрын
it can be a lot easier to obtain some types of financing (particularly your standard residential financing) if all of your income is reported within an entity like that, as it becomes a singular income source with a historical average instead of numerous individual purchases/sales.
@allenmiller1627
6 жыл бұрын
I like the tax benefits for llc.
@philipeduardygatpradas6476
2 жыл бұрын
I love you man!! thanks for your guidance!!
@iq4121
4 жыл бұрын
Excellent video, thanks for sharing all this information.
@travisvossler
4 жыл бұрын
What about when utilizing business credit... ? It would be a way higher loan amount (10 - 100 times larger) than personal credit loans... utilization is taken as a good thing and they are non secure loans...
@glenbrickman559
4 жыл бұрын
Thanks very informative
@NGF-Life
6 жыл бұрын
Thanks, can you talk about using LLC with self directed ira?
@valumphress1853
3 жыл бұрын
Great summary of pros and cons. Mahalo! “🤙🏽”
@Cahluvca
6 жыл бұрын
Great topic to touch on!
@seranthajenkins5288
5 жыл бұрын
Thanks for the info.
@ahmedbadawi3013
4 жыл бұрын
just wondering if you put the investment in a trust?
@williamswan9114
4 жыл бұрын
Yes
@justicemm92
3 жыл бұрын
His books helped👍
@bacriarussell6341
4 жыл бұрын
Great video!
@erict9903
2 жыл бұрын
How do we get business credit cards and funding without setting up an LLC?
@petervang8127
3 жыл бұрын
how often and for what, does a lawsuit happen?
@deadcell1
3 жыл бұрын
They say an average person is sued 7 times during their lives.
@robkidd6654
5 жыл бұрын
Awesome vid. Thx
@BrandonMoss-dm1de
5 жыл бұрын
Great info
@cantoleocorp.5568
5 жыл бұрын
Great video 👍
@chachee15
6 жыл бұрын
so if you have a partner you should get separate LLCs for the same business?
@drewpierpont3361
5 жыл бұрын
I believe the intent was to notify the viewer that an LLC with multiple non-espoused partners is even more complicated than a single member LLC. I'm not sure you can get multiple LLC's for the same business. Who would they sue?
@YouAREyoubeYou
5 жыл бұрын
An LLP would be perfect
@michaelalesi6278
4 жыл бұрын
I have a question regarding usage of LLC's. If you are not using an LLC for your rentals then what method are you using to maximize all the deductions you are entitled to? From all the videos I've watched regarding rental real estate it's pretty universal to have an LLC to get the max benefits of deductions and taxes.
@saileastpropertymanagement134
4 жыл бұрын
You do not get any additional tax deductions by using an LLC. Expenses are expenses whether you own the property in your name or in an LLC. LLCs are for asset protection, not tax planning. If you want to maximize your tax saving you should look into forming a C Corp to manage your real estate holdings.
@gk10002000
5 жыл бұрын
Forget it. Buy REITs, NLY, CIM, etc. Who wants to deal with Jackass people and evictions, home steaders, squatters, etc
@saileastpropertymanagement134
4 жыл бұрын
You can't use one of the most powerful tools in real estate with a REIT. What's that tool.....leverage! Leverage allows you to control real estate with 20% down. That is a powerful tool if you know how to manage it.
@ginaloveslife632
4 жыл бұрын
S Corps are the best!!!
@ES-fr3yz
6 жыл бұрын
"Eating cold beans" ,I think he's making fun of Phil P.
@mrjones944
6 жыл бұрын
Zoom in, zoom out, zoom in, zoom in, zoom out, repeat.
@dillonnj45l.18
5 жыл бұрын
Straight badass effects. Award winning.
@MetalBum
5 жыл бұрын
Lol so true. 😆
@mingtsuw
4 жыл бұрын
Now I can't unsee it.
@scoobydoobers23
4 жыл бұрын
OMG it is driving me crazy.
@priceandpride
4 жыл бұрын
But only partly lol
@danj7290
5 жыл бұрын
Really enjoy these kinds of videos where you talk through a specific subject instead of broader overall subjects
@POK2008
5 жыл бұрын
As an attorney, I would recommend getting an LLC.
@jimross2101
3 жыл бұрын
Well, you make good money doing it. Pretty much assumed you'd push LLC's.
@bannertraveller5879
3 жыл бұрын
As a mechanic I recommend getting the blinker fluid changed regularly
@dairysmoreta6108
3 жыл бұрын
As a Sales person I recommend you finance a $100,000 car at 18.99% APR meanwhile you only make $40k a year 😏
@POK2008
3 жыл бұрын
@@dairysmoreta6108 Sir, an individual can form an LLC on their own without hiring an attorney. It’s simplistic.
@bannertraveller5879
3 жыл бұрын
@@dairysmoreta6108 Brutal LOL
@aarongiggers66
Жыл бұрын
This is an old video, but I have had several hard money lenders say they only lend to LLC owners. So I've considered getting one for that reason. Just to have more options.
@jonathanhoward7811
5 жыл бұрын
Generally, LLCs can procure financing with a loan guarantee from a member. I would suggest gathering all your questions, then sitting with a CPA and Attorney for a hour to get all of your questions answered. $500 investment ($250/ hr 2x) for a solid foundation for years to come. All the best, A CPA who invest in real estate
@ritzkola2302
5 жыл бұрын
Robert Clark I read your profile. I’m a veteran, 90% service connected, in Miami Florida. I’m currently in the process of searching for a great lender to fund my initial investment. Contact me.
@TouFang
6 жыл бұрын
A business entity is needed for hard money loan under 100k in MN, so that's why I set up a LLC.
@amberkay2596
4 жыл бұрын
That’s not true
@toufang-hmongwealthbuilders
4 жыл бұрын
Amber Kay sorry, I should clarify. Llc is needed for the hard money lender that I work with here in MN. Not sure about other lenders, just the one I work with.
@AngelaBlesh
3 жыл бұрын
I’m able to qualify for loans much easier for a rental property in Mn here with an llc.
@steveelling9604
4 жыл бұрын
So, we're supposed to consult a lawyer to see if there's potential legal exposure involved in owning rental homes listed in our own name? They are going to say yes, 100 times out of 100. That's how they get paid. I had an attorney on Florida who wanted to charge me $5,000 to handle the paperwork of establishing LLCs for the five rental properties I owned at the time. My supplemental umbrella insurance policy (which I would probably need anyway) covering those rentals is $600 per year. Also, no tax preparer or lawyer has been able to answer this simple question, which I have posed, many times: How much will the state licensing fees for each LLC as well as the IRS tax prep charges (tax forms must be filed for each separate LLC) cost me annually? All I get are vague guesses and shrugs.
@Feldspar__
6 жыл бұрын
"Talk to an attorney" is a great answer. Thanks Brandon.
@munchichi8
5 жыл бұрын
You should always,................. ALWAYs use an LLC to protect your identity of your ownership to the property!!!!
@5Hessens
4 жыл бұрын
What stops people from googleing that LLC and finding the owner
@donyetta83
4 жыл бұрын
@@5Hessens the anonymity clause attached to llc's in states like WY, NV, DE
@JayColucci1
4 жыл бұрын
Sounds to me like I need to talk to a lawyer, but if I had to guess, when buying residential put the property in my name and make sure I have super insurance. When buying commercial set up the LLC and have super insurance. Sounds simple to me.
@georgerobertsiii
2 жыл бұрын
As for me, I always run my ventures through an LLC. I love commercial real estate because it allows me to use leverage while providing me the protection of an LLC without triggering the due-on-sale clause.
@WesternNyBigfoot
Жыл бұрын
How do you not trigger it
@ChristianC-gy1ym
Жыл бұрын
@WESTERN NY BIGFOOT llc is allowed on commercial loans, just not residential. even if said residential is a multi family complex, it's still considered residential. you can't get a conventional loan on residential if you have an llc set up. If you obtain a conventional loan first THEN set up an llc, then you are transferring title from you to the llc. so the lender will call your loan. unless they choose to let it slide, which does happen if you're lucky. Or, from the start you could get a commercial loan on your rental property if setting up an llc is important to you. but commercial loans have higher fees and shorter terms. Or, you could just buy a commercial building and obviously get a commercial loan. The moral of the story is, if establishing an llc is not really beneficial to your situation, then you don't need to jump through hoops to set one up. if all you're concerned about it getting sued by your tenants, then just get good insurance. especially if you own your property outright.
@MacLaw3084
Жыл бұрын
@@ChristianC-gy1yma couple things. 1. you can get a 30 year fixed conventional loan for a rental through an llc, but rates will be much higher. 2. banks often don’t call the loan if you transfer it to an llc, but the can.
@ChristianC-gy1ym
Жыл бұрын
@@MacLaw3084 Most big lenders will not give you a conventional loan through an llc... But some would, yes, at higher rates. yes, I mentioned they CAN call it, though they don't always. But that is a risk investors will need to take and not worth it in my book.
@SonneFarms
3 жыл бұрын
Cold beans
@JuanCruz-ly7mn
3 жыл бұрын
Crazy because I actually use an LLC to start taking action... as soon as I make my investors know that an LLC has been created it creates that sense of urgency to start moving the money into an investment!
@I.O.M.
4 жыл бұрын
Each of my properties has an LLC and I have a umbrella insurance coverage as a back up to protect assets. It costs less than $200 to set it up and transfer the deed.
@saileastpropertymanagement134
4 жыл бұрын
Don't use a Quit Claim Deed. You will blow up your title insurance if you don't transfer title properly.
@lonniewilliams2484
5 жыл бұрын
Just want to add to your point LLC's give you the abilities to gain business credit to grow.
@fulldoseofdave2505
4 жыл бұрын
Ding ding ding! Why doesn't anyone talk about this!! A friend of mine recently schooled me on this subject of corporate credit. I want the LLC for the credit! Let's talk more about this!
@deenad3562
4 жыл бұрын
And be sure to take out a business credit card and pay all related business expenses with it to further build your LLCs power.
@bluerabbit1236
4 жыл бұрын
@@fulldoseofdave2505 Do you seriously think you can just go ahead an open an LLC to fix your fucked up credit? Lmao every broke ass idiot lives this dream. Let me wake you up: It doesn't exist. 99% of the business credit cards you'll apply will want your ssn as the personal guarantor. Yes, you can get some credit lines from Shell or Loews or Home Depot etc but it will take your years to get to that level that will provide you decent credit limits you need to rehab a property. It's much easier and faster to fix your own credit instead.
@fulldoseofdave2505
4 жыл бұрын
@@bluerabbit1236 who said I wanted to fix my credit and furthermore who said I was broke? Why are you mad at me? Lol calm bbn it down meow
@romariosmith422
3 жыл бұрын
@@bluerabbit1236 you sound mad as heck 🤣 😂. Seems someone bent you over and smashed way too hard.
@cherylchild
4 жыл бұрын
In California there is an annual, at tax time, flat fee of $800. My CPA told me I could get a lot of insurance for $800 per year.
@standardprice4921
4 жыл бұрын
good idea, im thinking to ope a land trust for anonymity and get umbrella insurance, and good insurance in my cars too help full coverage the max coverage i can get
@teddybar66
4 жыл бұрын
The name of your Cali CPA would be helpful... And a contract number.
@Notme-tq4xs
Жыл бұрын
California charges $800 a year FOREVER. Get the insurance.
@jasonstevens6877
3 жыл бұрын
Me: watches this video. Immediately below the video: meet Kevin response to this video. Clicked
@flyferrari458
5 жыл бұрын
Video ends at :50 You don’t need anything else
@TOMMY-WANT-WINGY
4 жыл бұрын
Hes priming our minds to be aware of the do's and don'ts.
@brittaniesch3391
2 жыл бұрын
You could ask your insurance agent if an umbrella is right for you.
@mikegeorge5569
2 жыл бұрын
十𝟰𝟰𝟳𝟯𝟲𝟬5𝟬𝟳𝟳𝟰𝟴█ ▇ ▆ ▅ 🇬🇧
@mikegeorge5569
2 жыл бұрын
Hey.... You can get connected to Mrs Clara with this number here 👆she is always online🥰
@mikebenge2853
4 жыл бұрын
1:23. Press that a few times
@matthewverrelli4819
3 жыл бұрын
No cap
@jeffroblin3787
3 жыл бұрын
I jiust watched and have one shortcut recommendation. If its just one property you're seeking additional protection for and you have a personal umbrella insurance policy, you should be able to place the homeowners under a personal umbrella. This likely wouldn't work as you scale up but is good for someone starting off.
@Brax_animation
6 жыл бұрын
“Eating cold beans” is the new “watching dancing with the stars”
@GarlandRentalsllc
5 жыл бұрын
cold beans "under a bridge", "with the pigeons"!!
@andrewb9595
5 жыл бұрын
What ever happened to "eating government cheese... In a van, down by the river!" ?
@joeo7257
5 жыл бұрын
...or like avocado toast.
@Hmmmreally1234
2 жыл бұрын
Curious in Texas, they can't take your primary home, so do I still need an LLC for my rentals? And how do I get the property off my personal credit report and into an LLC (if I need one) without triggering due clause payable?
@therealtimray
5 жыл бұрын
An umbrella insurance policy may be enough for most people with multiple properties.
@andrewb9595
5 жыл бұрын
I'll be honest... LLC or not, you're right, I'm scared. Really want to get into my first rental property, but it sure takes some courage to take that leap. I'm 27 and and my wife and I built our own house from scratch that we're doing a cash-out refinance in order to finish some of the house along with paying off a personal loan that used to help fund some of the building process. The refinance is going to leave me with about $20k extra after improvements... I was hoping to use this cash as a down payment to get my first rental property, but trying to find a profitable first property is honestly a bit overwhelming. How do you find a good one, what about financing, do you look in your own area, do you look at other states, take care of it yourself since it's just 1 or hire a property manager??? So much to consider. Also, since we built the house ourselves, nail by nail, we've got about $70k of equity into it that we could use down the road to fund down payments for additional properties, so we don't really have to use the BRRR method. The downside to doing that though is that we'd be leveraging our primary residence, which (to us) is kind of like our baby. So that's a bit scary too.
@michaelking42
5 жыл бұрын
1. Buy one near to you so you can keep an eye on it. 2. Put 20% down so you don't pay PMI. 3. Hire a rental property management company, and a good one at that. 4. Stop procrastinating.
@danutdracula
2 жыл бұрын
Impressive! That skill set will kill it in real estate!
@Notme-tq4xs
Жыл бұрын
Get liability insurance when you insured the property, then get an umbrella which pays up when the liability insurance is all gone. Easy.
@JayLupe
Жыл бұрын
@@Notme-tq4xs can you explain this in english please
@johnp999
Жыл бұрын
STEP 1. Watch 100 Bigger Pockets videos. STEP 2. After that, if you do not have enough motivation, or enough knowledge, to begin, then I’m sorry real estate investing is not for you.
@josephthibault6999
5 жыл бұрын
Own the property yourself and "lease" it to your LLC. When the LLC is sued only things that the LLC actually owns can be up for grabs. The property does not belong to the LLC. You do a "triple net lease" for the property which makes the LLC responsible to pay all expenses related to the property as well as make the "lease" payment for the property to you out of profits. With that in mind remember that you are always responsible for your own torts. I.E. if you personally do something that causes harm etc to the tenant then of course all your belongings are up for grabs anyways. Always be properly insured and never over capitalize your LLC. I.E. if you want to invest cash into your LLC always "loan" it the cash, or as much as the government will allow you to. Something like if you put 100k in loan 80k and invest 20k. Then in the advent that the LLC is sued you only lose 20k as the LLC has to pay you its "creditor" the 80k back. Also see a lawyer/cpa before doing anything as the law might differ where you are.
@7008aspen
5 жыл бұрын
Whoa that's the best advice sense I heard about an LLC
@Mynameisjoof
5 жыл бұрын
This is a great idea
@Rshen11
4 жыл бұрын
Most likely won't work.. It can be easily pierced because you own the LLC
@thomasjensen6243
4 жыл бұрын
He basically said....I have no idea....go talk to a lawyer.
@Notme-tq4xs
Жыл бұрын
Get an umbrella policy !
@preston8859
6 жыл бұрын
I don't know if other states do this, but there is a pretty good incentive in Kansas to get an LLC, as there are not state income taxes for the individuals that own the LLC. This goes for any pass through entity in Kansas. So if you're saving more in taxes than what the LLC costs, it can be a good idea.
@saileastpropertymanagement134
4 жыл бұрын
Pass-through means that the income from the entity is reported on your personal tax return. That is IRS code. All states allow income from LLCs to pass through to your federal personal return. States that have income tax allow for pass-through treatment as well.
@williamhansen4844
5 ай бұрын
Regarding the comments on leverage as it relates to asset protection.. wouldn’t you want to put your property into an LLC if you only had $10,000 in equity? That way it’s all a lawyer could go after in the event if a lawsuit. But if the rental property in which you only have $10,000 in equity was not in an LLC, the lawyer could go after your personal assets instead of the $10,000. Maybe I’m overlooking something? If so please clear it up for me. Regardless, great video per usual! I will keep tuning in.
@user-oj2is7eu5h
6 жыл бұрын
The problem is attorneys and CPAs don't know either. Ask 100 of them and you'll get 100 different answers. From what I've read LLC in most states don't protect you unless there's multiple owners of the LLC(family excluded) and thus setup as a real business, not setup for the intent of protecting your assets. I could be wrong. As far as leverage helping you, it won't if they pierce the veil. Your cars, savings, all rentals will be taken if the lawsuit settles for more than your insurance covers. $2,000,000 lawsuit and you only have 1,000,000 insurance means you're selling everything you own to pay the difference. Again, I could be wrong, I'm no expert.
@MrSethmo13
6 жыл бұрын
I believe you have been misinformed or you have misinterpreted the information you have reviewed. At least in the state where I reside, there is no obligation for there to be multiple members in order for the LLC to provide protection to the member. In other words, a single-member LLC can be a perfectly valid business structure that provides protection to the single member against judgments in litigation. Regarding "piercing the corporate veil", yes, if it is pierced, then your personal assets can be reached. However, the corporate veil will only be pierced in situations where you fail to observe the required formalities. For example, if you fail to pay your annual registration fee with the state where you have registered the LLC, you could be out of compliance and your corporate protection can disappear. More commonly, the corporate veil is pierced when the member treats the LLC like it is his or her own personal piggy bank. When you start paying for dinners out with your spouse or for your gym membership or for family vacations or your cable bill or your lawn service, etc. using your business credit card or using automatic payments drawn on your business accounts, then you enhance the risk that the corporate veil will be pierced. The rationale here is that since you are not drawing distinctions between corporate funds and personal funds, then a creditor shouldn't have to draw distinctions between which pot he can pick from when trying to satisfy his/her judgment. Also, if your LLC is severely under capitalized or engages in fraudulent practices, then there's a good chance that your corporate veil will be pierced. Hopefully this provide you with some comfort.
@annnetteadamson5763
5 жыл бұрын
l We have multiple rental properties, our Attorney had us group ownership of our rental properties into several LLC’s, for limiting exposure to liability. The cash flow from the rental llc’s pass through a “Holdings Account” which is owned by us and all of our children. Our children only share 1% of the Holdings LLC. There is precedence in the courts that punitive action against one owner of this type of LLC cannot happen because of the multiple owners of the LLC. This structure works for us. Do your own homework.
@angelaeast1895
5 жыл бұрын
Annnette Adamson where are you located?
@anujgupta9293
2 жыл бұрын
@@MrSethmo13 great answer
@MrSethmo13
2 жыл бұрын
@@anujgupta9293 thank you!
@jenny-DD
2 жыл бұрын
Investors if not Real Estate Agent -can't get PLLC- they don't qualify Investors w/out License can do an LLC but most to stupid to set it up nor run it correctly- and this is becoming illegal in MA y states anyways
@paulnguyen1204
4 жыл бұрын
Let's assume I have 3 rental properties in California. The minimum tax for LLC in California is $800 => 3x800 = $2400 yearly. With that much money, I can buy a $10 million umbrella policy. Any thought guys? $10 million umbrella policy vs set up 3 LLC with extra expenses and higher interest rate.
@Notme-tq4xs
Жыл бұрын
I got the umbrella. Very easy decision
@danielbrown1218
6 жыл бұрын
Everytime Brandon started talking about "cold beans" the crows started crowing lol
@fijicivic24
4 жыл бұрын
Lmao
@WATCHMEGOBROKE
2 жыл бұрын
New subscriber here‼️Heloc that BIH YOLO🤙
@RayNagin504
2 жыл бұрын
This guy doesn't know what he is talking about. You can get a Portfolio Loans which will allow you to finance an house in an LLC. You don't need a commercial loan.
@vincentslusser9205
Жыл бұрын
Simple and straight forward. Thanks much.
@DaBeezKneez
5 жыл бұрын
This guy is severy misinformed.. how the fuck are you a real state owner LLC is the best to protect your assets Not to mention you dont even have to inform the bank of anything, why ask. They wont call off the loan. And LLCs are fairly easy to get, i never heard of anyone not taking action because they dont have one. Paying a premium insurance is no warrantee that it will cover you Insurances have an incentive of not paying.
@griesrt
4 жыл бұрын
highly leverged in CA means that you have $200k of equity on day 1 on a $1M house. What do you think about having a parent company in a difference state? This could make it harder to litigate and collect perhaps?
@laprepper
3 жыл бұрын
I listen to an attorney the other day talk about owning properties in the Wyoming trust that might be out of state and his sense was that it's not a subject that has been highly litigated so a precedence doesn't necessarily exist but it probably depends on the two states specifically, and as well as whether or not you're in state court or federal court.
@Alex-gx5mb
6 ай бұрын
Can you make a video of the downside of an LLC for a small investor. I have found many downsides and questions regarding real world protection that comes from an LLC
@Tampain
Жыл бұрын
Can you just get an umbrella policy which covers all the properties instead of an LLC?
@WesternNyBigfoot
Жыл бұрын
Super hard to get loans after an llc. You have to get commercial loans. Which means higher rates and costs. Also they call the loans like every 5 years and you have to requalify . Ridiculous.
@ignitingy.e
2 жыл бұрын
Hey guys, so my church would like to start investing in real estate to raise funds, how should they go about the process?
@johnnyallthecash2742
3 жыл бұрын
Not getting an LLC cause you only have 1 investment property seems like ill advice to me, I mean, cant the dead-beat put a garnishment on your wages or other come after the meager assets that you do have,.
@musclesupplements6946
3 жыл бұрын
How many properties should you limit per LLC? Obviously, as your recommendation
@patriot1303
3 жыл бұрын
Don’t protect yourself because you’re probably not worth that much is bad advice
@damisahawneh9979
2 жыл бұрын
I have $2 million in my retirement (IRA). I just created an LLC. My intention is to invest in rental property. I am new to rental property investment. Should I take the loan using the LLC or take a personal loan? You advice is much appreciated.
@bkbrown5881
5 жыл бұрын
Cold beans sounds good now for some reason....
@acebensen4626
2 жыл бұрын
Right.. oddly satisfying lol
@russcali4138
3 жыл бұрын
Sometimes a simple personal umbrella policy is the answer
@lukesaxtaxman867
5 жыл бұрын
Do you have llc bt!? If not in an llc Can they go attack future wages to pay off any liabilities from lawsuit?!
@thebuildinginvestor8427
6 жыл бұрын
Perfect timing on this video. I have been working on limiting my liability this week. 😁
@milmil6594
2 ай бұрын
I see LLC's coming into neighborhoods and what were once nice family friendly neighborhoods are now row after row of rental homes
@MrNickFelix
6 жыл бұрын
Fantastic content guys. Your videos are VERY relevant and super easy to consume. So many question I have a new investor you have addressed in full or at least in part in one of you videos. Thank you!!
@gordoncuffe601
Жыл бұрын
Your more likely to have a non paying tenant then get sued by a tenant. If a tenant gets hurt at your property, your liability coverage on your landlord policy will take care of it.
@asvpjoeyevdo9798
Жыл бұрын
I have 2 houses both 4 units should I get an LLC Joseph from M.A
@ChristianC-gy1ym
Жыл бұрын
SUPER helpful content!! Thank you so much Brandon.
@ripshilkett
2 жыл бұрын
I read comments here cuz everyone I know bums and can’t conversate with them about shit like this
@YoutubeBrand
5 жыл бұрын
Amazing video. I’m not making any excuses!
@scottsimpson5694
2 жыл бұрын
Took time out of my day to gain valuable info 11 min of talking and it comes down to “I don’t know.”
@tomatobrush3283
6 жыл бұрын
What about tax saving? I have a well paid job and if I get rental income it will all be taxed at 40%. If i get a LLC it is only (income) taxed when i draw a salary from the business and I don't necessarily have to do that. I can keep the money on the books and buy another house with it. I can then make my parents employees on paper and extract money out of the business every year up to a point tax free. I think tax is 19% on profits on a LLC owned property. Might be 11% not sure. I am buying my first property without an LLC but when I buy more I will buy through LLC. I am in the UK by the way.
@rthilson
6 жыл бұрын
It’s a pass thru so it will be taxed personally so if you are in a 40% tax bracket you will still pay 40%
@realityblooms
4 жыл бұрын
You’re confusing it for an S corp
@steveelling9604
4 жыл бұрын
Get an umbrella insurance policy covering all rental houses. Problem solved.
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