7 Critical Asset Protection Strategies for Investors (Keep Your Assets Hidden!)

[@NeilBasta]

Wow, harvesting and friendly lien are new to me. I learned something new today. Thank you. I’m a huge fan of you and your company.

[@ClintCoons]

Welcome!

[@aeongaming2561]

What do you mean by there are limits when you hit certain amount of properties in the "Separate LLCs" part? Also, do you have a video explaining Equity Harvesting?

[@ClintCoons]

I mean that after 15 or more properties look at grouping into 3 or more per LLC.

[@GrownFolksTalkWithShaunUpshaw]

Can you explain the cash LLC? So I can set up a separate LLC just for cash? How do I find it? Do I just transfer money from a personal into the cash LLC?

[@ClintCoons]

Yes you will move your personal savings into the cash LLC after you open up an account.

[@elmasduro77]

Clint, if i open a Wyoming LLC but buy a house under the LLC name in another state to live in, do i need to register the llc as a foreign entity in the state where i bought the house? I guessing i will file 0 dollar at the end of every year 1065 form if the llc is a partnership

[@ClintCoons]

You would not and if it is your personal residence you should consider treating the entity as disregarded for federal tax purposes.

[@presidualist4587]

Learn something new everyday 😂

[@ClintCoons]

Excellent

[@MrEvpatoria]

You forgot friendly divorce 😄

[@alliesteamc3546]

Wyoming LLC*s bank account, should you put cash savings in same wyoming LLC but in local bank for convenience? Where to actually open the bank account?

[@frankxpressel2]

Hey Clint. For step 1, which LLC's are you using to make offers with and sign contracts? One of the child LLC's of your holding LLC? Are you setting up a few children LLC's as well to make offers on future properties? What if you don't get the property? I guess you would have an available child LLC for the next property you make an offer on in that state.

[@ClintCoons]

Yes you make the offers in the child LLCs not the parent.

[@frankxpressel2]

@@ClintCoons Thank you!

[@QuantumClubAI]

Why wouldn't you just put all of these things in business trusts?

[@ClintCoons]

Business trusts do not provide the same asset protection benefits.

[@QuantumClubAI]

@@ClintCoons that seems highly unlikely to me. What is one thing that these things can do that cannot be done with a more private common law trust?

[@ClintCoons]

@@QuantumClubAI Common law trusts do not offer asset protection unless you set up an asset protection trust in a state that authorizes its use. Even then, the protection is questionable if you do not reside in said state. Common law trusts do have their uses e.g., anonymity, title holding, due on sale clause protection, probate avoidance, etc.

[@elizabethgalindo1384]

Hi Clint my name is Elizabeth Galindo,and I be been looking for a trustee,and can't seem to find anyone to help me with the process, I've been to see a couple of attorneys, Discouraging! I know the assets are there,it's just what needs to be filed,I know there's something there,or else the bank wouldn't of signed the direct deposit form,so idk what to do.

[@ClintCoons]

If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

[@cesterly4668]

Clint how about the top 7 stratigies for individuals, families...not investors.

[@ClintCoons]

Thanks for the idea

[@edward5486]

is there a way to take advantage of the business automobile deductions without having the vehicle owned by the business?

[@ClintCoons]

Yes take the mileage deduction. Currently it is 62.5 cents per mile reimbursement.

[@theoliverpuma]

1-6. LLC