It's honestly mind blowing how much free information like this is available. Corporate structuring and tax strategy can seem very esoteric and inaccessible unless you have the right person breaking it down like this.
@ClintCoons
2 жыл бұрын
Ian Johnston Thanks for watching.
@b-rok7174
2 жыл бұрын
Whenever I watch these videos I think wow! I love this stuff. Real estate is so fascinating. I want to do real estate deals non stop. I could become addicted to this! Then I don't do anything. I just wish I knew where to start.
@danceswithsticks
2 жыл бұрын
Subto with Pace Morby
@Shubbyshoinks
2 жыл бұрын
Hi bill
@AberrantArt
2 жыл бұрын
@@danceswithsticks it's too crowded now. Too many students so it makes it difficult to get any communication with Pace or direct advice. Even the zoom was too full today, capped at 1k ppl on zoom so not everyone can get in.
@b-rok7174
2 жыл бұрын
@@Shubbyshoinks Hey. 👋
@jacobocelis
2 жыл бұрын
Good day ! can you make a video where you buy and sell preconstruction houses and the tax planning for this. thanks
@ClintCoons
2 жыл бұрын
Great suggestion!
@transactiondesk840
2 жыл бұрын
How do you go about opening a new account at a bank with a multi layered ownership strategy such as the one suggested? I just went through that and it was nearly impossible to get it opened without disclosing the beneficial ownership and personal information of each and every entity to the bank. Apparently, banks are now enforcing the Customer Identification Program (part of the original Patriot Act) where you have to disclose personal information such as your home address. This was never the case a few years ago when I opened company accounts. Thoughts?
@ClintCoons
2 жыл бұрын
You must disclose this information to the bank or you will not be able to open an account.
@transactiondesk840
2 жыл бұрын
@@ClintCoons Can this information be subpoenaed by a plaintiff's lawyer?
@ClintCoons
2 жыл бұрын
@@transactiondesk840 Sure but first they need to obtain a judgment against you.
@transactiondesk840
2 жыл бұрын
@@ClintCoons So, if most all major banks are unwilling to open a multi-layered account structure (if structured correctly, presumably to protect assets) then what's the point of any asset protection if those records can be subpoenaed?
@macinthecrack1591
2 жыл бұрын
@@transactiondesk840 makes it harder for them I'm guessing. But also for you too.. good question hopefully clint repliesss!
@brownboi853
2 жыл бұрын
As a young investor, I'm not there yet to take advantage of these structures.. But, I love the strategies you talk about. What books can read to teach me more of these strategies and structures you always talk about?
@ClintCoons
2 жыл бұрын
Asset Protection for Real Estate Investors - you can find it on Amazon.
@gwillacey
2 жыл бұрын
Should you own rental property in a disregarded LLC or LLC taxed in a different way?
@ClintCoons
2 жыл бұрын
Typically in a disregarded LLC owned by a partnership LLC
@86boanerges
3 ай бұрын
Thanks for the valuable information. Questions: 1. What happens to these individual disregarded LLC after the property is sold? Does one need to maintain them? If yes for low long? 2. For people doing flipping in CA, are these individual LLC still the strategy? Do they have to be CA entity to be able to do business in CA? Or a WY statutory trust? Overall how does this translates for CA residents doing business in CA?
@ClintCoons
3 ай бұрын
Keep it until the end of the year then dissolve.
@guzman9011
2 жыл бұрын
So Wyoming is 🔑
@ClintCoons
2 жыл бұрын
Yes
@ellenoir5678
2 жыл бұрын
Clint is the truth I love this Guy
@ClintCoons
2 жыл бұрын
Thanks
@AdrianButler86
2 жыл бұрын
Now u got my brain thinking :) how bout this for another why to remain anonymous when selling ur fix n flip prop. What if u purchased it thru the hml under a trust(owned by WY llc) or just WY llc then make sure u Deed n take title of prop in a trust before u sell it to end user. Then make the trust dissappear after selling it. Will that work? But how does that play out in terms of taxes with all this c and s Corp talk? U educated me so much it gets the wheels turning to find diff ways of structure stuff :)
@ClintCoons
2 жыл бұрын
Yes that works and the corporation would be the beneficiary of the trust.
@davidfromm679
2 жыл бұрын
Question about vacant land. purchasing from the city, but I want to protect for a very long time from liability against any adjacent landowners liability claims. (finished Quiet title in PA). Was thinking transfer to PA land trust after sale, then to a PA LLC. (Would be PA LLC owned by Delaware LLC) Any other structures I should use? NO- this will probably not be sold for many years.
@lacreeparrish1237
2 жыл бұрын
Are you able to add new LLCs under the main Wyoming LLC as you acquire more properties?
@ClintCoons
2 жыл бұрын
Yes
@Moneymindset734
2 жыл бұрын
First let me say thank you for taking time to explain all this, you make it easy to understand. I have a quick question, I live in Illinios if I set up a Wyoming LLC do I still have to file a DBA to do real estate transactions in Illinios? The DBA form asks for names, addresses phone numbers of the members.
@ClintCoons
2 жыл бұрын
The WY LLC should own an IL Series LLC. You would not want to register the WY LLC in IL. If you do then you will lose the anonymity.
@AlEntrepreneur
2 жыл бұрын
🔥🔥🔥 *Great content! Could using land trusts to initially purchase in each state be used instead of using LLCs?* 🤔
@ClintCoons
2 жыл бұрын
Yes you can but the land trusts do not offer asset protection unless in Florida.
@maxroi7852
2 жыл бұрын
Thank you for so many videos and great content
@ClintCoons
2 жыл бұрын
Glad you like them!
@alliesteam9776
2 жыл бұрын
Brilliant! thanks for sharing!
@ClintCoons
2 жыл бұрын
Glad you enjoyed it!
@user-fq5ei6od8p
Жыл бұрын
Is there a list of states that hold back proceeds like Hawaii when you sell property and the owner is an out of state LLC?
@ClintCoons
Жыл бұрын
I know California does. Not sure on the others.
@user-fq5ei6od8p
Жыл бұрын
@@ClintCoons thanks. I reached out to the title company I use here in AZ and AZ does not. So allows me to structure LLC that buys flip properties in a WY LLC for anonymity, that will be a disregarded entity, owned by an AZ LLC taxed as C-Corp. WY LLC creation is so much faster than AZ. So that is another huge benefit.
@ClintCoons
Жыл бұрын
@@user-fq5ei6od8p Correct.
@user-fq5ei6od8p
Жыл бұрын
@@ClintCoons thanks for all that you do in providing such great information.
@Bayardonavarro
2 жыл бұрын
Hi Clint! Great content very informative. Wish I would have watched your videos before I started flipping. I current live in FL and I’m doing flips in GA. My current structure is just a GA LLC which has no anonymity. I notice on this video you have a FL c-corp and in your previous video you recommended a WY c-corp. Which structure would you recommend? Also, I would need a registered agent for either WY or FL corp?
@ClintCoons
2 жыл бұрын
The GA LLC is fine just use a WY disregarded LLC as a blocker entity and have each flip in a separate GA LLC. This will give you anonymity and the asset protection flippers need.
@Bayardonavarro
2 жыл бұрын
@@ClintCoons Thank you! Should I contact your office for a registered agent in the WY LLC?
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