Buying Real Estate with an LLC: Must Watch

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Karlton Dennis

Karlton Dennis

Күн бұрын

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*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
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Do I need an LLC for every investment property?
Though this does not make sense for every business owner, it's important to understand the risks of only maintaining one LLC with multiple investments.
When would you need more than one LLC?
The more investments that you have inside one LLC means more risk of losing those assets if your Limited Liability Company is in a lawsuit.
For my rental real estate owner friends, that is BAD NEWS!
So let’s make sure we are protected.👊🏾
If you recently established an LLC for real estate investing purposes, you may be finding it difficult to get approved for a mortgage loan under that entity.
Having a positive Paydex score is important, especially for rental real estate investors, because this allows you to leverage OPM.
#forbes #business #entrepreneur #taxsaving #goals #motivated #tax
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

Пікірлер: 374
@Raymondjohn2
@Raymondjohn2 Жыл бұрын
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
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@martingiavarini Жыл бұрын
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@hermanramos7092 Жыл бұрын
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@martingiavarini
@martingiavarini Жыл бұрын
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@hermanramos7092
@hermanramos7092 Жыл бұрын
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@jojuancarey1547
@jojuancarey1547 3 ай бұрын
​@hermanramos7092 how did it go
@Suziew12
@Suziew12 8 күн бұрын
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@Suziew12
@Suziew12 8 күн бұрын
SHE’S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME.
@Suziew12
@Suziew12 8 күн бұрын
@Infurnaevely1
@GordonGreenCincinnati
@GordonGreenCincinnati 3 жыл бұрын
*Quit Claim Deed. You as the owner are quitting your claim to the property deed thereby transferring the ownership interest to a new party.
@GordonGreenCincinnati
@GordonGreenCincinnati 3 жыл бұрын
@Brad Williams Possibly. Yes.
@saldridge92
@saldridge92 3 жыл бұрын
Just started my FL LLC and plan to add flips/rentals in the near future. Will be watching as much content as I can! Thanks for the info much appreciated!!!
@karltondennis
@karltondennis 3 жыл бұрын
Best of luck, I add anything real estate related to a specific playlist, check it out!
@HighCountryRambler
@HighCountryRambler 3 жыл бұрын
Would love to see a video on having rentals deeded to a 'Trust' versus a 'LLC' as it relates to these similar benefits? Mine are tilted to my Trust currently for similar reasons, but I've had a LLC for over 10 years for other reasons. Considered moving them over? I paid $150 for the LLC and $10 per year annual filling fee. Great videos as usual.
@tonyhall9764
@tonyhall9764 2 жыл бұрын
Does the trust give you privacy? How would one go about setting up a trust? In new to all this so i appreciate any and all info
@raquelucha22aldaco13
@raquelucha22aldaco13 2 жыл бұрын
I was just thinking the same! Would it be redundant to get an LLC when I know I’d like to get a trust as well. Should I just get one or the other. Also, your fees are super low!
@r.5108
@r.5108 9 ай бұрын
CALIFORNIA ANNUAL FEE $800
@HighCountryRambler
@HighCountryRambler 9 ай бұрын
@@tonyhall9764 The company I worked for offered a legal plan for a trivial annual price. Before I retired I had a attorney draft my will and family trust. I suspect they will build a trust for under $200 out of pocket and I just transferred deeds at the county myself. (online county forms) Attorney had a packet of requirements for the trust I gathered prior to the signing. According to the attorney, if a renter or other hurt themselves on the rental property they would be suing the trust, not me.
@Naytastiic
@Naytastiic 2 жыл бұрын
This video is underrated. Thank you for this. 🐐
@keithr2385
@keithr2385 3 жыл бұрын
I believe its called a quit claim deed. And its the lowest form of title transfer that says the seller may or may not have owned the property and relinquishes any liens, judgements etc that may show up on title. Preciate the info tho brotha.
@tinawalker5335
@tinawalker5335 Жыл бұрын
I have watched at least 100 of his videos and that “quick claim deed” which he said several times threw me off. I guess if he doesn’t own real estate and he’s just advising he may not know.
@SomtoOfonagoro
@SomtoOfonagoro 3 жыл бұрын
A1 advice thanks for the information!
@karltondennis
@karltondennis 3 жыл бұрын
Anytime
@bwesley26
@bwesley26 2 жыл бұрын
Wow. I've watched and studied many real estate investing videos. This info was gold. But the way in which you communicate is 💯
@sergiocesario9149
@sergiocesario9149 2 жыл бұрын
Thank you so much for clearing that up. I’ve asked investors, lawyers and accountants and all they did was confuse me further.
@frankmoolah
@frankmoolah 3 жыл бұрын
I close all my properties into a Land Trust. Not only do I not need to pay franchise taxes for forming an LLC to close an individual property in, but it also anonymizes the Owner of record. OAN: Behind the scenes, I keep a group of properties in a LLC.
@wernerfoerster3666
@wernerfoerster3666 3 жыл бұрын
Do you really contend a landlord/ landowner can remain anonymous when in the sights of an attorney??
@frankmoolah
@frankmoolah 3 жыл бұрын
@@wernerfoerster3666 If you knew how land trusts work you wouldn't be asking such a question. I recommend you look up and holler at my guy Randy Hughes, "Mr. Land Trust" himself.
@wernerfoerster3666
@wernerfoerster3666 3 жыл бұрын
@@frankmoolah LOL... I would have you personally served with a summons within a week!
@frankmoolah
@frankmoolah 3 жыл бұрын
@@wernerfoerster3666 Sure you would 🤦🏽‍♂️🤷🏽‍♂️. I call your bluff and welcome your attempt. Foh 😅😂🤣.
@wernerfoerster3666
@wernerfoerster3666 3 жыл бұрын
@@frankmoolah great strategy ... hide from the lawyers lawsuits .. LOL... laughable
@smith26dell
@smith26dell 3 жыл бұрын
All they have to do is go to Secretary of State and enter your llc name. Still get your information easily.
@justthoughts8872
@justthoughts8872 3 жыл бұрын
Mr Dennis is this reply true?
@anthonyandrews7858
@anthonyandrews7858 3 жыл бұрын
Thank you for telling me it’s okay to have these questions!
@EmpressVibes83
@EmpressVibes83 3 жыл бұрын
You are giving so much game in this video, thank you so much for sharing this information.💚💚💚💚💚
@craigjohnson6689
@craigjohnson6689 2 жыл бұрын
Your videos are great but SLOW DOWN when you talk man! you got some great content people need to clearly hear you.
@chanelblue702
@chanelblue702 Жыл бұрын
These videos are amazing!!! You are a wealth of information. Thank you.
@kaylag.997
@kaylag.997 3 жыл бұрын
Your videos are so organized. While I am listen to you I am thinking two steps ahead; every question that popped in my head during this video you answered. Thank you for sharing your knowledge. #loveyourvideos
@rosetherealtor3182
@rosetherealtor3182 2 жыл бұрын
Thank you for making these videos! You always put things in such a way that just makes sense
@BrownPeace
@BrownPeace Жыл бұрын
Thank you so much for this info!!! This truly helped me. Side note: “Quit” Claim Deed, not “Quick”.
@StreetCreditJuJu
@StreetCreditJuJu Жыл бұрын
This channel is really amazing
@reginajackson3663
@reginajackson3663 Жыл бұрын
If you haven’t establish business credit, for example, because you just started your LLC business which means the pay dex score is zero then how can you use OPM?
@wernerfoerster3666
@wernerfoerster3666 3 жыл бұрын
Do you really contend a landlord/ landowner can remain anonymous when in the sights of an attorney??
@simonehancock643
@simonehancock643 2 жыл бұрын
May I ask a question. It may be silly but I don’t know. Do I have to make a LLC in each state I want to invest in? Or could I have a LLC from in Texas and invest in Illinois?
@FkBdn
@FkBdn Жыл бұрын
cracking up with your intro... that guy: "I cant event tell you that" LOL!!
@ceedimomma
@ceedimomma 3 жыл бұрын
So glad I came across your channel..you are amazing...definitely a loyal subscriber
@karltondennis
@karltondennis 3 жыл бұрын
Thank you so much!!
@ballerboyylive4692
@ballerboyylive4692 3 жыл бұрын
I LEARNED A LOT THIS VIDEO!
@Double_T_G
@Double_T_G Жыл бұрын
@6:30 Big companies are more willing to settle tho lol. Could backfire. Just my 2 cents. The video was very informative tho. Awesome job 👍
@theetravelhippie
@theetravelhippie 2 жыл бұрын
this video alone made me subscribe
@NatashaBjerke
@NatashaBjerke 3 жыл бұрын
So if we’re establishing business credit within an LLC and you get to a point where you need multiple. Can you easily transfer from 1 LLC to another LLC? Or would this be a situation where you would use the quick claim deed and switch it into a second LLC before closing?
@brandonhensel4103
@brandonhensel4103 Жыл бұрын
what if you want to use your LLC to buy land for you and your family to live on… not a rental property
@MadRezStudios
@MadRezStudios 3 жыл бұрын
Got me with the TPB reference 😂
@Hitm8kr
@Hitm8kr 2 жыл бұрын
I would most definitely sue all those companies you mentioned. Hell, we know they got the $
@harnamsingh7071
@harnamsingh7071 2 жыл бұрын
Thanks for great video. Your voice is very clear and contents are very useful. Some of the info is not relevant for me but the concept put forth in the video is well explained and well taken by me also for future guidance Not only buying but re-selling of properties owned through LLC, will be much easier, only a single persons signature will be needed to sell a property or I think it could be done through a GPA also whereas in case of properties owned by individual's name, signatures/NOC of all the children are are needed on sale deed. This practice exists in many countries, including India, in case of ancestral properties. Any comments on this re-sale matters?
@patrickbritton4082
@patrickbritton4082 3 жыл бұрын
Getting a loan to buy (or refinance) real estate with an LLC is MUCH more expensive. The interest rate is at least 1% higher than a conventional loan purchased by a “normal” person. Title fees, loan origination charges, the appraisal, and some of the other settlement charges are all substantially more expensive too. Why? You need to get a loan from a commercial lender. And guess what sort of protections you will be surrendering if you buy a property with an LLC? Everything. You give up all of the protections of Frank-Dodd if you buy a property using an LLC. Don't forget, you're still getting the same deductions, you're just paying a lot more to be protected against an event that for all intents and purposes, will not happen to you. And if it does, this is why you have an umbrella policy, and a property manager to aid in preventing that event. So in short, it's a net negative. I know, because I made the mistake :(
@MarthaPatella
@MarthaPatella Жыл бұрын
check out DCSR loans-Karlton please do a video on this
@sherwindean6609
@sherwindean6609 2 жыл бұрын
There’s a thing called an LLC in Series with cells to protect each separate entity, while filling as an S-Corp while running an LLC. Can you please find the time to elaborate on those topics in combination.
@user-ef9si8ob2t
@user-ef9si8ob2t 2 жыл бұрын
Thanks for your comment ⬆️ Reach out to me for consultation and more tips on how to build your finances ✉️...
@scottielondon8076
@scottielondon8076 3 жыл бұрын
You are awesome! Thank you soooo much for sharing your knowledge!
@nickfazzio5277
@nickfazzio5277 2 жыл бұрын
That meme in the first 15 seconds was hilarious
@Givetheflowers
@Givetheflowers 3 жыл бұрын
This video was very interesting and kept my attention. 👍
@josephklostermanjr.4687
@josephklostermanjr.4687 3 жыл бұрын
Karlton never misses
@WesternNyBigfoot
@WesternNyBigfoot Жыл бұрын
Scorp may be better but taxes
@zd4w9
@zd4w9 2 жыл бұрын
Thanks for the information!
@tiffersj6851
@tiffersj6851 3 жыл бұрын
You are a hidden gem! Thank you
@robg7896
@robg7896 3 жыл бұрын
Who on earth thumbs down this information?!
@stanmoney8470
@stanmoney8470 2 жыл бұрын
Let's say you have 3 properties , property 1 has an LLC. Propy2 &3 you get a trust on them under your LLC. Is this possible?
@prinny04
@prinny04 2 жыл бұрын
Yeah, I don't get the emphasis on my identity.
@ikemonyemelukwe8478
@ikemonyemelukwe8478 Жыл бұрын
Great video, my question to you is this, is it still necessary to put an investment property that's currently in my mother's name in an LLC if ... 1) We only own one rental property at the moment. 2) We are in the process of transferring the property into a living trust. 3) We are also planning to add an umbrella insurance policy to the property on top of the insurance we already have. We understand the concept of not putting ALL of our eggs into the same basket in order to protect the other eggs in the event that we "drop" 😁 one basket but what if one egg is all we got at the moment ? Thanks !
@danielcalderon4349
@danielcalderon4349 3 жыл бұрын
Thank you for everything you do Karlton! Thoughts on purchasing primary residence in an LLC? Thank you again!
@karltondennis
@karltondennis 3 жыл бұрын
Would want to understand the reason as to why, shoot me a Dm on IG. Thanks for watching
@danielcalderon4349
@danielcalderon4349 3 жыл бұрын
@@karltondennis Just DMed you. Thank you! 🙏
@CamMoralesFinance
@CamMoralesFinance 2 жыл бұрын
ahahah that intro man lol
@tarody3953
@tarody3953 3 жыл бұрын
Why would you do an LLC in CA instead of a Deleware Statutory Trust?
@moradfares6908
@moradfares6908 3 жыл бұрын
Love the videos!!!!
@Its963steve
@Its963steve 3 жыл бұрын
Fantastic content
@andrewking32
@andrewking32 3 жыл бұрын
I love your videos!
@jrjrjrjrjrjrjrjr
@jrjrjrjrjrjrjrjr 3 жыл бұрын
You explain it very well. Can I convince you to move to Miami, or South Florida or anywhere in Florida lol
@top5-vid814
@top5-vid814 7 ай бұрын
confused
@jshellenberger7876
@jshellenberger7876 Жыл бұрын
Watch out for Novation! #PoW
@KINGUILLE1
@KINGUILLE1 3 жыл бұрын
GOLD
@karltondennis
@karltondennis 3 жыл бұрын
Thanks!
@johnnyrocket321
@johnnyrocket321 3 жыл бұрын
This is great 👌 One question If I have a Delaware LLC that I want to use as a holding company and I apply for foreign LLC in California for each property I own in Cali Is that a good strategy? Thanks
@MrBEli-dw4rl
@MrBEli-dw4rl 2 жыл бұрын
I am interested in buying a duplex in the next 6months, can I just make an LLC and get deplex? In there is an order I need to follow before hand?
@Dr.KennethNoisewater
@Dr.KennethNoisewater 3 жыл бұрын
Seemed so credible until you said QUICK claim 🤷‍♂️
@bvcxtds6195
@bvcxtds6195 2 жыл бұрын
That was great
@bw496
@bw496 2 жыл бұрын
why does this guy never interact with his commenters?
@Jack-qf1hh
@Jack-qf1hh 3 жыл бұрын
Love big gov or die...
@anthonydooley224
@anthonydooley224 3 жыл бұрын
Other than the anonymity of the owner's name, there are few advantages of having an LLC. It doesn't actually protect you from lawsuits because you personally own the LLC. An umbrella policy actually provides liability protection. When a person files suit, they can name the LLC, the owner of the LLC, the property manager, and anyone else they think they can get money from. The main thing to keep in mind is filing a suit doesn't mean that they will actually win the case. The insurance companies that hold the liability policy have more money than me or my LLC. Loans are still guaranteed by you personally, so there really isn't business debt. I have an LLC, but it isn't magic. A trust is a separate legal entity and actually provides the protection that most people assume the LLC provides.
@lewisacosta2891
@lewisacosta2891 3 жыл бұрын
How about if you put the LLC into an Anonymous holding company? Would that by any chance make a difference??
@johnmaxwell1356
@johnmaxwell1356 3 жыл бұрын
There are some states (Wyoming for example) where the LLC actually protects the owner. ie...you can not look up who owns the LLC.
@fallenamerica1475
@fallenamerica1475 3 жыл бұрын
You guys got the LLC Wyoming etc.. probably from the same dude i watched years ago on youtube. Get a Land trust, it does the same thing and cheaper
@onmypurpose9054
@onmypurpose9054 3 жыл бұрын
I'm into LLC's but i'm also well versed in "Land Trust"
@MONEYNOSLEEP
@MONEYNOSLEEP 2 жыл бұрын
@@lewisacosta2891 is a lot bettee
@eric_m_bailey
@eric_m_bailey 3 жыл бұрын
I Love watching the growth of your channel and I'm getting a lot of wonderful information from you! One thing to note is that it's not called a "Quick Claim Deed" it's called a "Quitclaim Deed" Keep representing and educating!
@Francisco-Danconia
@Francisco-Danconia 2 жыл бұрын
Wow! Seriously think this guy is good and he doesn't even know the correct name of something THAT important?!
@johngartin3118
@johngartin3118 3 жыл бұрын
When starting an LLC, would it be smart to sell your own house to it? For example, I live in my property but i could sell it to my LLC and then rent it out to my wife to show income.
@therapturedmichelle
@therapturedmichelle 2 жыл бұрын
curious about this
@Hecurles-sz1jz
@Hecurles-sz1jz 2 жыл бұрын
I'm curious
@ethanreynolds4181
@ethanreynolds4181 2 жыл бұрын
Grant Cardone does this!
@phucutube
@phucutube 2 жыл бұрын
Is this legit?
@ethanreynolds4181
@ethanreynolds4181 2 жыл бұрын
@@phucutube absolutely is!
@anthonyandrews7858
@anthonyandrews7858 3 жыл бұрын
Omg bro the way you speak to my brain it really clicks
@drewwestenbarger535
@drewwestenbarger535 3 жыл бұрын
I'm dying with these inserted funny video clips😆 I love listening to your advice, you make it easy to understand and I can tell you're passionate about your work. Love it!
@jddavis6607
@jddavis6607 3 жыл бұрын
Just glad to see a young Black King giving gems!
@gageschultz6019
@gageschultz6019 3 жыл бұрын
How do you know he's not a queen 🤔😳 lol
@danielsmith8409
@danielsmith8409 3 жыл бұрын
Why it gotta be about race
@gageschultz6019
@gageschultz6019 3 жыл бұрын
Playing the victim is very in right now. They don't even realize what they're saying anymore 😴🤷
@pittmanandsons5355
@pittmanandsons5355 3 жыл бұрын
Simply an educated American helping others, which has been happening for hundreds of years.
@Eric-bq1jo
@Eric-bq1jo 3 жыл бұрын
Hey JD Davis, would you be cool with a White person calling themselves a White King? I doubt it. Your comment sounds rather grandiose.
@beverlymeredith1836
@beverlymeredith1836 3 жыл бұрын
I appreciate the information in this and Karlton’s other videos. But I just want to mention that it is pretty easy to find out who is a member or registered agent behind the LLC. Just go to the Secretary of State’s office in your state and view filings, where you can find the individuals behind the LLC. I think putting a rental property in an LLC is a good thing, but not necessarily to camouflage the owner(s) behind it.
@DuckJuniorTV
@DuckJuniorTV 2 жыл бұрын
It's very easy to set the LLC up where none of the LLC owner's personal information is listed on the organizing documents.
@raquelucha22aldaco13
@raquelucha22aldaco13 2 жыл бұрын
I don’t think he entirely meant to hide the owners but rather to protect the owners from a lawsuit. When one looks at the property and finds an LLC name on the property, they are more likely to think twice about suing. In addition, even if they find the owners behind the LLC, they cannot sue the owners directly, but rather the LLC which is a saving grace for small business owners with LLC’s.
@raquelucha22aldaco13
@raquelucha22aldaco13 2 жыл бұрын
@@DuckJuniorTV really I did not know that.
@heka6564
@heka6564 2 жыл бұрын
Really wish my teachers in college were more like you Thankyou for the time in these vids
@fr3einfo745
@fr3einfo745 10 ай бұрын
Wow! It is called a ⚠️“QUITCLAIM DEED”⚠️ not a “quick claim deed” like you incorrectly said and wrote on the screen at minute 8:53. A “QUITCLAIM Deed” is a legal term of art but it is very widely known amongst non-lawyers in the real estate world. So, I am shocked you made this kind of mistake in an educational type kind of video! “Quitclaim” (and yes, it is one word) comes from “quit claim” from the old English Common Law which means transfers of interest in the real property without warranty of title. Not because a claim is “quick”! It is because when you receive such a deed, you have to quit any and all claims pertaining to the warranty of title!
@Jey9A4G
@Jey9A4G 3 жыл бұрын
Soooo thankful i stumbled to this page: Karlton Dennis is the next KZbin Star for Financial Literacy! I said it 1st!
@Nez833
@Nez833 3 жыл бұрын
I like the way you speak and express yourself, very professional and positive
@coachdonnaj
@coachdonnaj 3 жыл бұрын
This has been so educational. I’m a boomer passing your gems on to my Millennial family members who are considering getting into Real Estate.
@eddieleejoseph2998
@eddieleejoseph2998 Жыл бұрын
Never too late.
@khanalpuspa
@khanalpuspa 2 жыл бұрын
But people can lookup the LLC owner by searching the LLC details in state biard
@NavarroCreative
@NavarroCreative 2 жыл бұрын
its called a "QUIT" CLAIM DEED not a quick claim... loved everything else.
@thehalloweenchannel
@thehalloweenchannel 2 жыл бұрын
I’m thinking of purchasing a retail space. Could you please address that scenario? Thank you!
@artcyshutes9834
@artcyshutes9834 3 жыл бұрын
Karlton if my LLC is new with no credit etc. Is it better to get a mortgage "loan" in my name then transfer it to my LLC after Ive established myself?
@elijahleys2734
@elijahleys2734 3 жыл бұрын
Hello Karlton, I have the same exact question. I recently had to pay $350.00 which includes recordation fees for one the properties that I own.
@karltondennis
@karltondennis 3 жыл бұрын
Let me get me and my team to whip up a video on this one! Also, feel free to message me on instagram @karltondennis
@winstonbodkin4075
@winstonbodkin4075 3 жыл бұрын
@@karltondennis same question! Thank you for the valuable content
@bobbyvalentino9946
@bobbyvalentino9946 3 жыл бұрын
@@karltondennis I have one property that I pay mortgage on. If I rent the property. do I need an LLC?
@darrellsnell8850
@darrellsnell8850 3 жыл бұрын
@@karltondennis did you and your team whip up a video on this one? Can you please cover in detail how a newly established LLC should add existing rental/investment properties to ones LLC. Also, can you address and or do a video on a land trust vs LLC comments contained in this thread? And thank you very much!
@heroknaderi
@heroknaderi Жыл бұрын
I enjoyed the video. A good friend of mine owns my childhood home along with two other properties. He’s in California I’m in Texas. Recently I saw where he got an llc for his properties including my Childhood home. I’m planning and been planning on buying it back and I want it in my name. It still has tenants and there good tenants. I’ve even met them before. One idea is whenever the house comes available I’ll rent it for a year then do rent to own. Another idea is I’ll buy it as is with the current tenants and take over renting it out to her. Until she moves. I have an emotional attachment to the home and I want to live in it in the future. I’m curious on the best work around. This video is very informative. Keep them coming.😊
@tovarseasycleaning
@tovarseasycleaning 3 жыл бұрын
Can you make a video about getting a hard money loan through an LLC? I opened an LLC may of 2020 and business was good until a few months ago and no I’m stuck with this loan paying $365 per day. I do e-commerce
@karltondennis
@karltondennis 3 жыл бұрын
Yes. give me and my team a few weeks! i will add it to the cue
@movingtotexas
@movingtotexas 2 жыл бұрын
You're great at communicating and explaining, thank you the video was very helpful!
@sofi4148
@sofi4148 3 жыл бұрын
Move your deeds to a trust and set the llc as beneficiary. This way the llc has no properties nor equity.
@JazzyMotivation
@JazzyMotivation 3 жыл бұрын
But how do beneficiaries dissolve the business and gain possession of the home.
@sofi4148
@sofi4148 3 жыл бұрын
Nobody should ever take possession of the property. The trust controls everything. It should designate who's in charge when you pass. If a property is sold then the deed is moved from trust to new owner. This structure prevents the long process of probate and it leaves a legacy for your loved ones. We die but the assets continue making money and have equity. If the llc gets sued then all they can get is the money in the bank not the properties. You can close the llc and start a new one.
@JazzyMotivation
@JazzyMotivation 3 жыл бұрын
So, just to be clear, in your example, does the home go in the name of the trust or the LLC??-
@sofi4148
@sofi4148 3 жыл бұрын
@@JazzyMotivation the trust owns everything. The rental income and expenses for mortgage and repairs run thru the llc business account.
@JazzyMotivation
@JazzyMotivation 3 жыл бұрын
Thanks Carmen... I appreciate the explanation
@donnabones1224
@donnabones1224 3 жыл бұрын
Thank you so much, Karlton! I have watched a few of your videos and appreciate all of your content. You are simply awesome. Thank you for being the gift that keeps on giving to the community. 🙂
@karltondennis
@karltondennis 3 жыл бұрын
I appreciate that!
@lucafigueiredo6005
@lucafigueiredo6005 3 жыл бұрын
If your looking to get into rental properties but have never had an LLC before would you recommend buying in your personal name for the sake of financing and then switching the title to an LLC?
@MarthaPatella
@MarthaPatella Жыл бұрын
I was told that if title changes, the lender can request full payment of loan on the spot
@reactionhourwithdave
@reactionhourwithdave 3 жыл бұрын
Hi Karlton, what happens when I want to access the equity on the home if it's placed in an LLC? Would lender allow access to the equity?
@samgibson684
@samgibson684 2 жыл бұрын
Great question
@Eric-qh7is
@Eric-qh7is 3 жыл бұрын
😂 💀 wtf was that alien in the beginning
@WandaTuckser
@WandaTuckser 2 күн бұрын
Many thanks - great tactical explanations!!!
@jz28h
@jz28h 2 жыл бұрын
If it’s a home you’re staying in put it in your name is it’s an investment label it as such. This keep the ability to do business later a lot easier because the property or properties in your LLC doesn’t show on your personal DTI ratio which I very important. This allows you to have more availability to access loans. Anyone telling you otherwise is garbage. There lots of people speaking to the other but I actually am in the sector in which we are speaking on. Be aware there are a lot of people speaking on situation they're not or have ever been in. I’m an aspiring low level investor so these is a hurdle I’ve had to navigate. Best of luck.
@jamarnouk6538
@jamarnouk6538 Ай бұрын
So, it's best to quit claim to the LLC before closing? Why can the LLC not buy the property outright?
@notme-sm6zb
@notme-sm6zb 3 жыл бұрын
Not Beetlejuice. Omg. I almost fell out.
@ike2668
@ike2668 3 жыл бұрын
Love the videos but I am curious. Wouldn’t the quit claim deed incur the due on sale clause?
@Brand_One
@Brand_One 4 ай бұрын
Very thorough explanation. The Beerlejuice clip had me laughing my ass off.
@huynhkimhanh5672
@huynhkimhanh5672 Ай бұрын
I down Payment 20 % can I buy LLC take Loan with LLC buy house ?
@ericgmurray
@ericgmurray 6 ай бұрын
You suggest that the umbrella policy provides coverage for "incidentals, like if something gets brokern." That is incorrect. It's only an extension of liability.
@Bmwrealestate
@Bmwrealestate 2 ай бұрын
Hello how would I get a padex score for my business and how do I build business credit??
@hknhan4581
@hknhan4581 3 жыл бұрын
Love your videos. Is there a way to find out if your llc has a paydex score? And what is factored in your paydex score? Is the paydex score same as the d&b number?
@whoareyou8557
@whoareyou8557 3 ай бұрын
So let’s say if I open 3 llc, I’m going to have to open 3 different bank accounts or is there way to link all 3 into one bank account or what would be the best option ?
@bryankmiller2
@bryankmiller2 2 жыл бұрын
Thank you
@frankayala3950
@frankayala3950 2 жыл бұрын
Everything you’re talking about on here has always been on the back of my mind with questions and all, I am a bookkeeper for a real estate property management, and I always wondered why certain specific clients of ours would purchase properties and give them the name of the address followed by LLC, I never understood why and now I understand based on the basket of eggs that you used as an analysis in. Thank you very much I have become I subscribed to your channel.
@Junior-jw7vs
@Junior-jw7vs 3 жыл бұрын
Planning on getting my LLC within the next couple of months. I'll be reaching out to your office pretty soon!
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