How To Start An LLC For Rental Properties

[@jamelgibbs]

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[@cathenido1624]

I've come to realize that the key to amassing wealth lies in making sound investments. I purchased my first home at the age of 21 for $87,000 and sold it for $197,000, My second home, acquired for $170,000, was later sold for $320,000, and my third property, purchased at $300,000, fetched $589,000, with buyers covering all closing costs and expenses. Not reaching a million before retirement feels like an unfulfilled goal.

[@derrickbennett339]

Jamel Man when i noticed u on the tube i knew right away i wanted to look and study every video. U one of the realist guys i know. Your every word is the gospel

[@IamDannyStone]

Great video, you broke down the LLC structure in an easy-to-follow, step-by-step way. Much appreciated!

[@janicebarbee4208]

I love u Jamel!!! Your common sense strategies are exactly what I need as a beginner. My follow up question: does this mean you have a different LLC (with land trusts per property) for each state you are investing in? I have a LLC set up for North Carolina, but am very interested in bidding at Pennsylvania judicial tax sales! You are an extraordinary teacher and I am grateful that you are choosing your position to share your experiences and lessons😊

[@samsangiorgi5620]

Loved these explorations. Better than a lawyer sometimes. Being a home owner myself, this gives me better idea of how to protect myself. Great video!!! 👍👍

[@dmariabeauty]

This is answering several questions I had, as I have been brainstorming a name for my real estate business. Right on time‼️

[@jamelgibbs]

💪🏾💪🏾

[@kingsmotivationsuccess7526]

Where you able to set up your LLC?

[@Stylenwavin]

​@@kingsmotivationsuccess7526 Google LLC (your state)

[@fitwill73]

Thank you for a clear and concise explanation in this video! I am under contract for my first investment property, and this really helped me to make an informed decision for my business.

[@romegq]

Appreciate the video! You're clear, straight to the point, and you don't digress into a bunch of other gibberish like some other videos. 👍🏾

[@jamelgibbs]

🙏🏾

[@Kkamp]

here in cali. i plan on renting out my primary home at the end of 2023 making it my first rental. ill be buying another property to live in making it my new primary. will it be difficult to transfer my rental into an LLC when i still owe on it? here from you soon 100.

[@GentryWillits]

You speak so clearly. 👍

[@yung_tuber4732]

A wealth of knowledge, very informative sir. My husband and I have lots to discuss as we are looking to start on the real estate journey. Thank you!

[@danebeardsley]

thank you this was very helpful

[@richstevenson1]

Great video. Clear and easy to understand! Excellent presenation! Thank you from Philadelphia!

[@rayw.colbertjr.3017]

Very Informative, Thanks Jamal!!!

[@melaniegenuinely]

I’m just scrolling all the playlists on your channel and it’s a WHOLE UNIVERSITY!!!! I’m going to educate myself but not going to overeducate myself to the point it becomes counterproductive. I’ve answered the questionnaire and will be investing in the hybrid training. Though there are other investors that I follow in addition to you….it just seems like your way of teaching makes me feel at ease and confirms my belief that I can do this. That’s not to say the others don’t teach plainly. But it’s just something about the way you teach that’s just straight to the point. Noelle is like that too.

[@jamelgibbs]

Thanks. Was that the coaching app that you filled out?

[@melaniegenuinely]

@@jamelgibbs I did it so late last night. One questionnaire gave me a number at the end that I’m going to call today. And then a training video was sent to me that I watched early this morning. But I can’t remember if I did one or two questionnaires because it was so late.

[@melaniegenuinely]

@@jamelgibbs I remember clicking the link for a free consultation.

[@jamelgibbs]

Feel free to send an email to [e-mail] My assistant can set up an appt for us to speak.

[@melaniegenuinely]

@@jamelgibbs email sent.

[@killerspankyy892]

Thank you your helping me and I won’t forget it

[@jamelgibbs]

✊🏾✊🏾

[@brendapalmer8510]

Thank You For Your Wealth Of Knowledge In Respect To Setting Up A LLC And A Land Trust. I Can't Wait To Get Started. MAY GOD BLESS YOU & YOUR FAMILY!!!

[@dmariabeauty]

Wowwwww‼️ This is super interesting....and excellent info‼️💥💥💥💥

[@jamelgibbs]

Glad it was helpful!

[@REAVESWH]

Thanks for the information sir. Greatly appreciated

[@victoriabarnett4279]

Really interesting about land trusts. And the idea of llc being personal representative of the trusts. Lots to think about. Thanks

[@ccc-fd3ls]

Thank you for sharing knowledge 🙏

[@jamelgibbs]

My pleasure

[@raymondwilson6543]

powerful infromation baby J... Thanks

[@jamelgibbs]

thx

[@sophie64ful]

Thank you bro, this is a great video. I have learned how to protect myself as realtor investor

[@staceystory9063]

Thanks I will be getting Air and B properties.

[@johnpenninc.1390]

i definitely learned something today. had no idea what a trust was until now. Thanks Jamel

[@robertpowell8975]

Thanks learned a lot.

[@samuelbruce6289]

First of all, you are awesome. Thanks. Start an easy language course on these things. People will pay for it and make an awesome man wealthy. Thanks again.

[@soldatvonzufall2548]

clear, concise, answers many questions during, excellent tutorial

[@wendytirado9191]

Great info. I really liked the tip at the end regarding the Trust. Thanks for sharing

[@erickacastillo5760]

Great info. Thank you

[@jamelgibbs]

Glad it was helpful!

[@Jmb90]

Solid info. Much appreciated!

[@jamelgibbs]

👍🏾👍🏾

[@temikaharden234]

Love this idea! Thank you for sharing

[@jamelgibbs]

🙏🏾

[@joyiasells4810]

Thank you for this video

[@jamelgibbs]

👍🏾

[@brianc9036]

Thanks for the breakdown. This is a great overview. Need to dig a bit more but this info is great!!

[@alibinabdullah5052]

Quite informative and easy to understand. Thank you.

[@TheBennynyc2]

Appreciate you getting to the point in the vid. You just got yourself a subscriber👍

[@jamelgibbs]

I appreciate that!

[@sarahernandez6295]

Thanks for the tips. I have more confidence.

[@RicoMonterrico]

Good looks my brother much respect.

[@EarlArmstrongJr]

This is so invaluable. Thank you family!

[@EarlArmstrongJr]

Can you use the BRRR method while properties are under this structure ? Also, which NAICS Code do you label the LLC/business as? 525920 - Trusts, Estates, and Agency Accounts?

[@jlarius1965]

Great video do more like that brother

[@ericsteele5447]

Thanks for the information. You really helped clear up some questions I had

[@toddw.sampsell4058]

Okay sounds great and I liked what I heard here - but how do you set up a land trust each time you need one ? Is there a form where you register the property with the county you are in to make this happen. Go to an attorney is an option - but if you want to do this on your own - can you explain the steps on a video? Thanks.

[@theofficialgaro]

I have the same questions. Have you found the answer?

[@squirrelattackspidy]

Man, you are a wealth of information. Really good step by step overview of how to set up an LLC and what land trusts are. Do the land trusts offer any protection to the beneficiaries of the trust? For example, let's say I had a rental property in a land trust and a renter sued me (a beneficiary) about something that involved that property, are the damages capped to whatever they could obtain from selling it?

[@avapalmer4590]

Thanks for all the information it was very enlightening.

[@jamelgibbs]

Glad it was helpful!

[@ryanneal1999]

Good information pretty knowledgeable 👍🏾

[@jamelgibbs]

🙏🏾

[@jackies3242]

Good Information just confused if you get a trust document and your the only one who ever sees it how will anyone ever know it’s in a trust

[@janicebullock6114]

Awesome advice that I needed. Thank u so much.

[@jamelgibbs]

🙏🏾

[@ninjawilliams4273]

Great info J. Thanks

[@jamelgibbs]

Thx.

[@MrTommy2977]

Thanks!

[@jamelgibbs]

🙏🏾

[@qualityfirst5119]

This video was so helpful, thank you so much! 😊

[@iamking_nell]

Fire 🔥 content

[@jamelgibbs]

🙏🏾

[@tcmproperties3020]

Awesome brother thank you

[@raybeckner1478]

Thank you for the explanation!!!

[@jsow]

Thanks for the advice man!

[@ajmnv]

Thanks! Very helpful. Question: setting up with different Trusts under one LLC, (I have 6 separate rental properties on different streets) would this be as safe or “cannot be penetrated” as an LLC ? The cost for LLC’s is very high in California. An answer from anyone from anyone would be appreciated. Maybe it’s that all the Trusts are under one LLC that it offers the same protection. Not sure.

[@romashka9999]

Thanks for video very good explanation

[@jhims630]

Great content and very informative

[@punchymuffin6402]

Wow, thank you. So smart!

[@plantmamadrama9696]

Thank you for the gems of info!

[@thecryptobarnacle9530]

Great video.

[@mlduran12]

A trust doesn’t offer the same protections as an LLC so it really depends on what state you live in. If you’re in a state where it costs $800 a year to keep an LLC open then it makes sense to do the trust method and spend more money in insurance to offer yourself the protection that the trust isn’t. Even if your LLC manages the trust it doesn’t protect the same way. However if you live in a state like NJ where the filing fee is $125 and the annual is $75 then the pros definitely make it more worth it to have an LLC.

[@rosapetrillo8411]

You are the best 👌👌

[@lifeandlove12e]

If u really love u take the good with the bad never giving up, but I guess everyone got a breaking point.

[@lydiaporch7557]

Very organized video, thank you

[@teresacrawford6677]

Excellent!! Thank you!!

[@routerpete1674]

Thanks, Jamel. Very helpful video. I was intrigued by the Land Trust concept. Can you share more information on that? I was looking on Legal Zoom and didn't see anything on it. Thank you.

[@lautburns4829]

That was great!

[@sidwhite622]

Awesome info

[@nimishak4119]

Thank you so much. It was a great video. My question is that, has LLC every practically protected you from any circumstances? I mean all I hear is that "open LLC to CYA", but I was wondering has this ever worked in real world? This might sound like a stupid question, but I am a beginner, and beginners have stupid (but real) questions.

[@letbelleza6382]

Great info! I'm sharing with my family! We are planning to start RE investment for 2nd property.

[@marketingdigitales4317]

Really amizing

[@BoArtTakeOver]

Hello, thanks for this. I’m new here wondering if you have any videos on investing? I don’t plan to get into real estate but I could use a “ investing for dummies” guide. Thanks

[@damarissandoval7758]

Very informative, thank you!

[@flower-op4ix6rr7y]

Nice...💐💐💐💐

[@dajae2374]

Ok. Bet. Thanks!!!

[@LooseJointhiphopdance]

Hey Jamel. I’m also Jamel. Loose Joint is my dance name. I have been looking into the document called a Trust. Thanks for breaking down the advantages and privacy you get with trust being the joker of the companies. My question is what is the difference between the Holdings acting as the umbrella for all of your assets companies and a Trust that has the privacy?

[@jamelgibbs]

Watch this video for clarity: Land Trust vs LLC (Which is Better for YOU?) kzbin.info/www/bejne/sKfXk4iBq55lm8U

[@LooseJointhiphopdance]

@@jamelgibbs Thanks a lot Jamel. Definitely will watch it multiple times to thoroughly understand. Salute

[@DaniPIM]

Thank you

[@langstonwashington4475]

Can you explain how getting land trust protects the property the same as getting each property under its own llc?

[@Smileyb8711]

If a Land Trust doesn't offer asset protection, why would we want to do a LT versus a LLC?

[@Noway673]

My cousin so dumb she thought LLC was short for LLCool.J.😅

[@dekphreak]

😂

[@donnabones1224]

Love the information! Where can I get a Land Trust to use without an attorney? Thank you in advance!

[@Product_snob]

I have watched the video and now ready to move forward question the property is a lot and a house and it's already been purchased so can I transfer it to the trust on my own or will I need help moving forward I will definitely put all my properties in land trust now that I know thx

[@hemalbuch]

If I have a LLC with an objective to work as IT Consultant can I use same LLC for Real estate investment?

[@moxiepops8457]

What about owning properties in different states? Can a umbrella LLC be located in One state and manage a land trust in another ? TIA! Awesome content ! Keep it going!

[@outonbail4382]

Very informative but a bit repetitive with a lot of the points.

[@Delgado-yu5hs]

How to set up land trust

[@db.3253]

If a tenant files a lawsuit in the property, how would that work? Thanks for the video.

[@AberrantArt]

When do you suggest using a trust with the company beneficiary vs using an LLC?

[@samsangiorgi5620]

My only question is, if you own property overseas, say in europe, do these strategies have the same effect or do i have fnd out what the legal requirements are for that country? Another words, at a “state” or “country” level?

[@iamtracywilson]

Question: At what point do you set up the property named llc or trust? 1. I will purchase all properties in an acquisitions llc (for credit building and hard money lenders) 2. I will quick deed into an anoymous holding llc (for protection) but do I need to do another llc or quick deed to get the property in its own llc? Just trying to understand the process step by step. I wouldn't want to set up property named llc BEFORE buying, but not sure how to buy it in acquisitions, name it property llc, and still transfer it into my holding llc. Hope I'm explaining this well. Thank you so much.

[@theofficialgaro]

Were you able to find the answers? I have similar questions.

[@MrOPM-vc6ow]

How do you setup a land trust without an attorney?

[@13Daisha]

Can you set up trust and have a mortgaged home on it? Are only homes that are paid off?

[@jamelgibbs]

Great question. You can put your house in a Trust even if you have a mortgage on it. Federal legislation passed in the 1980’s (the Garn-St. Germain Depository Institutions Regulation Act) says that the transfer of real property into a revocable living trust does not trigger what’s called a ‘due on sale’ clause in a mortgage-which would allow the lender to demand that you repay the loan in full, as if you’d sold the property to a new owner.

[@lashun1st]

Would it not be simpler to just file Wyoming LLC for each property? Or u do it the way for more cost effectiveness. What type of Trust is it? Land trust?

[@jamelgibbs]

Great question. Depends on where you live and your end goal. I would talk to an asset attorney or accountant about that.

[@chuchoxpress3503]

How I can setup a trust ?

[@stanmoney8470]

Should you start it before you buy the property, also if your a first time investor will a bank lend to a new LLC investor?

[@martintxca]

Where do I get the paperwork for the land trust. I’m in Texas

[@Alex-ix8cd]

What if I get 3 rental property’s my self and have it under the LLC , then get married and then divorced later on will I still keep the property’s or will we have to fight for it? (I’m 22 and single just wondering what would happen.) Thanks in advance

[@virgobee23]

Good Information 👍 How do you set up Land Trust?

[@cassandragrayes6149]

Great video!! Where can I find a trust document?