Wholesaling Real Estate: The Game-Changing Approach for Smooth Deals

If you want to dive deeper into this topic, schedule a free consultation with my team today. Visit: 👉 aba.link/ioh
In this video, we're going to talk about wholesaling real estate and how to structure your deals the correct way.
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ABOUT CLINT COONS
Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

[@ClintCoons]

Have questions about this video? Sign up for a free consultation to get your questions answered by the professionals. 👉 aba.link/ioh

[@UltimateBargains]

1. Assignment provision in the contract includes full release of liability for the assignor and assignment does not require permission from seller. 2. Use an Option Contract with an attached Purchase and Sale Agreement (PSA) signed and notarized only by the seller. 3. Use "marketing services" clause as Option Consideration to bind the Option Contract for a "nothing down deal" to control the asset. 4. If a seller won't agree to the above terms, then that is not a motivated seller; walk away without signing anything.

[@ericrivera3632]

I've been researching this topic by reading IRS website forms and publications on forms, because I didn't want to fall in the "I did it this way" trap. Needless to say, anyone that down plays legalities, is a fool. This is heaven sent. When I get this set up 1st, I am opening my wholesale buisness with CONFIDENCE.

[@fantasylive1102]

Thanks for your awesome videos!! I'm on my way to making my first deal and starting my wholesaling company! You break things down in a much more useable way than others I've seen out there! Great job!

[@bmac7597]

Awesome Strategy Clint, I will implement right away. Thaks

[@jazminramos4647]

Very eye-opening, thanks you Clint.

[@SilverSunPublishing]

Wow! you are the best. I recently purchased a REI course, and was totally overwhelmed with the legal and tax stuff. You have explained it perfectly. I'm sure I'll become one of your clients soon.

[@myempirepro]

Wholesaling is 95% about your marketing abilities...

[@cliftonlyghts5042]

Great info thanks

[@melanieprestwich2927]

Wow! I love this!

[@bmac7597]

Clint, what EIN do you use if you are buying a HUD Property using the Wholesale Trust and they require a EIN or SSN when submitting a bid?

[@jefferytaylor444]

Thank you so much Clint introducing the" WT." It is a really great tool. My question is, after the Corporation sells the Trust to the Buyer, what kind of possible discrepancies may occur, if any, when the Buyer attempts to close with the Seller? (particular the difference in sales price)

[@edmandell3064]

Great Video. So many gurus talk about wholesaling in an LLC or C-corp. I love the concept of using a Whosale trust to Wholesailing deals.👍

[@ClintCoons]

Totally agree!

[@amp7816]

Hi Clint: Is it possible to have the assignment fee flow through escrow or any other (suggestion) 3rd party for the sake of the buyer? Buyer may not feel comfortable of potentially losing their fee should seller renege on PSA.

[@sharonceaser-wheeler3364]

Awesome! Thank you for sharing!

[@ClintCoons]

👍

[@Hoopfever11]

Can't the wholesaler just write up the purchase agreement and have a clause that says "subject to inspection and approval of financial partner."? That way the wholesaler has an out from the beginning.

[@keithhicks3358]

Nathan Rech Are you meaning without setting up a trust as described in this video? @Clint, or is it best to do both?

[@MarcusLeepapi]

Thank you...

[@geesmith3107]

👍🏼👏🏼 Great info. Thank you so much!! Looking forward to speaking with one of your advisors.😊

[@ClintCoons]

Wonderful!

[@mkmitchell4028]

Mr. Coons, my name is Matt Mitchell im a 60 year old learning investor from oklahoma city i got started learning investor real estate a couple of yrs prior to my retirement from tinker AFB. I listen to your every day in the gym driving in my car, you are with me every where. And the reason is theres several but the main one is i believe you enjoy what you do enough to pass it on to others like me. My question is how can i become an asset to your already valued business, i heard Max Maxwell refer to you as a legend in the industry something i havent heard any one given thats doing business today. And to be honest every one on youtube are not as they seem. What i mean is they have there youtube face which isnt them at all they say they will help you on youtube but ask them a question they never respond or they talk down to you im 60 yrs old and get disrespected all the time. Then i figured out im only a value to them when i purchase there program after program after program and to never get the answer to your question. For example private money and making myself credible. You hear them say if you got a good deal the money will find you. Thats not always true ask me how i know, and they never talk about todays real life situations they talk about themselves thats already worth millions and forget about maybe they was once me, and most of them lie about there storys. This isnt a complaint or being negative this is what i have experienced. I love the idea of real estate investing and the creative ways of doing it. Im just having a hard time finding some one to honestly share because they love what they do instead of im just another person to add to there bottom line. Im not rich not even close i have been surprised of the integrity of some of the million dollar investors. I have spent thousands of dollars to learn this about some of the people in this industry. And not one million dollar investor stepped up here in oklahoma in support of an industry thats given them the life they have when they were calling us criminals no one defended the industry. Im sure you may not see this and im not asking for any thing free, i just want to let you know if we ( i ) can be of service to you in any way here in oklahoma let me know and in return just allow me to look over your shoulder i havent been successful i spend hours 12-14 hours a day 7 days a week i dont know what im doing wrong but im not giving up because its not that im not coming across deals its finding the cash/buyers to complete the deal. My niche is multifamily to provide low income housing but in order to do it i must use wholesaling for the foundation because finding partners to do this with be it credit partners/funding partners are not interested in joining a newbie in this arena. Im not asking you to take any time out of your day. Just tell me what you will or will not buy at what price or type of real estate or even if you are investing in Oklahoma or not or maybe you already have boots on the ground here and not need me. What ever the case is all i ask is just answer me not ignore me. Thank you for the integrity you bring to the industry there isnt any one like you that i have found and never heard one bad word about you. Thanks again. [e-mail] I almost forgot do you still offer the $30 a month advice service i heard you mention its something i would be interested in as i do deals and also the land trust.

[@ClintCoons]

MK that is great to hear you are starting your investing career. I wish you the best of success and I can tell from your comment that you have the drive ad are not deterred by hard work. That is where some investors fail - they believe investing is easy i.e., take a course and deals will fall in your lap. At the moment I am not investing in OK. I am in a holding pattern with my OK rentals and focusing more on my NC developments for 2022. I would encourage you to set up a strategy session and if you would like to learn more you can register for one of our upcoming Livestream 1-day Tax and Asset Protection Classes for Real Estate Investors. Here is the link: aba.link/KZbinAP.

[@NathanHallGadgetsGreatness]

Clint, I don't see the wholesale trust on the website. Can you provide a link?

[@brad265]

Clint could you use this for owner financing to avoid dodd Frank act of doing to many deals?

[@nathanaelmccasland2349]

So much value. I learned a lot and ready to start doing business with you guys. I'm intrigued now. Thank you again.

[@ClintCoons]

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

[@nathanaelmccasland2349]

@@ClintCoons I thought I signed up for one just waiting for a call... I filled out the work sheet already. I can send that in so whoever does the consulting. That way they will already have the background.

[@jamestaxrules7074]

Hi, do any of the disadvantages you cited for the use of a LLC also apply to the trust? Such as, is there any IRS notification of change of beneficiary/trustee upon transfer of trust to Buyer? For the period of time that the trust is created until transfer to buyer, is there a trust information tax return, and K-1 (maybe it's blank) to our C Corp for that period? Maybe this is too much to ask here, but I was wondering if all the disadvantages you cited for LLC go away?

[@lf5959]

Hi Clint, Will you be in the Sacramento Area anytime in the future? I would love to come and learn more. Please let me know. Thank you!

[@starr8111]

Will this wholesale trust agreement work for sandwhich lease options

[@chrislee9855]

All knowing I will assign it

[@antsatch8111]

Clint, does the wholesale Trust still work or not?

[@thereallanceburkhart1965]

Clint: When placing an offer using the name of a LT, who is authorized to sign the PSA as the buyer (Grantor, Trustee, Benef)? The listing agent wants to know who the buyers name is and why the trust is under the name of the address (123 main st Trust). Thanks!

[@juslostone]

I'm studying this video again because one is great information and two I'm about to enter into my first wholesale deal. So my question to you Clint is, I live in the Metro Detroit area I'm going to find a lawyer who can create my trust and make my LLC the beneficiary. What is a good rate I could expect to pay and will I need the lawyer to transfer the trust beneficiary to the buyer or does the title company do that? Thanks!

[@LMays-cu2hp]

Thank you.

[@ClintCoons]

Welcome!

[@Aarons411]

clint your a g

[@dire67]

The fees to set up an llc is overstated here. In the state of Utah, it cost me a grand total of $62. That included ein, everything from start to finish. I can't comment on the rest cause idk about it.

[@bluerabbit1236]

Try California. It's over 1k per LLC.

[@alexlenoir3877]

How do I get my hands on a wholesale trust and is there a fee for this?

[@chrisislas1838]

C Corp to do wholesaling? I was skeptical and in dire to see how you would engineer this entity. That was brilliantly devised and very creative. Wow!!

[@ClintCoons]

Thanks

[@chrislee9855]

How do you get a seller under contract so I can market the property?

[@burbs9607]

does this work in michigan?

[@foreverraining1522]

I knew about the trust, but I didn't know that you can sell it, and I didn't know you could have multiple trusts at a time. I'm scheduling my consultation right now.

[@icon_xb2genrich]

Clint are you be in Canada 🇨🇦 Ontario?

[@samseger1953]

is setting up an LLC instead of a C-Corp ok?

[@TK-br3hk]

Great video but an imperative portion of the real estate sales transaction isn’t really addressed in depth....the title company. Obviously a title search much be completed satisfactorily but how do things get addressed with the Title Co/Escrow Officer when transacting via wholesaling or with a wholesale trust as mentioned? Any input is greatly appreciated. TDK

[@BernardTheArtiste]

Hi Clint! First, I want to say that your videos are genius!! I’ve already learned a great deal of information from the videos I’ve watched. What if an individual is interested in not only the wholesale route that you shared with us in this video, but is also interested in the other routes you’ve shared (e.g. forming a DE LLC then forming a Texas LLC subsidiary to purchase a property in Texas with the intention of obtaining traditional/private/institutional funding and anonymity)? I guess my question is, does it become more difficult if one wants to wholesale a property in one instance and possibly purchase a different property in another instance? Hope my question isn’t as confusing as it may seem. Thanks!!!

[@ClintCoons]

Not at all. It comes down to placing the property in the proper entity. I just cut 2 new Wholesale videos this week. I will be posting them within the next 3 weeks. Make sure you sign up for my channel so you will get notified.

[@centeredbalance2175]

can this be used in NY?

[@michaelhardyjr5230]

I'm interested in learning this liability protection of wholesaling your team created Mr. Clint...

[@ClintCoons]

Contact us to set up a strategy session: aba.link/30minsession

[@KAdam-yp3sf]

Hi Clint, thinking of purchasing the wholesale trust kit from Anderson. I have a couple of important questions: 1) Does this wholesale trust work in every state? If not, which states does it not work in? 2) When your assigned buyer closes in this wholesale trust, does their source of financing (cash and/or loan) have to be from the wholesale trust set up in a bank or their source of financing (cash and/or loan) doesn't require the wholesale trust to have bank account to close on the contract - meaning financing can come from the assigned buyer's prefferable entities when the wholesale trust holds title as the buyer on the PSA?, 3) How does the wholesaler with your wholesale trust collect their fee at closing with this wholesale trust system you built? Because not every assigned buyer will accept paying upfront for the trust and prefer it to be paid at closing. Thanks!

[@ClintCoons]

K. Adam. The trust will work in all 50 states the only issue you may have is with title companies or if the end buyer is using financing to close on the property. If the end buyer is using financing he will most likely need to close in his personal name. Regarding the payment, this would be handled with the PSA to buy your trust interest. In the PSA agreement you could indicate that the proceeds will be paid out of closing.

[@black26075]

So would you recommend a wholesaleTrust other then assigning a agreement between the seller and buyer through a LLC, or can you still assign it along with your LLC?

[@ClintCoons]

Either way works. It really depends on the seller and your buyer.

[@cheriboone5951]

For wholesaling do I open a c-corp. in my state (TN) or in (WY) then buy the kit from you? I know you are out state c an you provide counsel in Tennessee.

[@ClintCoons]

Typically we set up the corporation in the state where the wholesaler lives and is soliciting deals. You could use WY but when you begin taking salary you will need to register the corporation in TN so it makes sense to just start in TN and save the extra fees. Have you set up a strategy session?

[@cheriboone5951]

Thanks so much, yes I did set up for a strategy session but no has call yet. patiently waiting. God Bless Cheri'

[@marianor1969]

Clint, with this concept of 'wholesale': - could you hold the right to close while you are renovating it? - is there money to be saved if I temporarily hold the right to close, compared with closing under my name, renovating it and then selling it to someone else? Thank you in advance.

[@indirawilliams9610]

When wholesaling you wouldn't be renovating the property. The buyer that you assign the contract to will be renovating.

[@crystalshorter353]

Clint, I'm getting ready to start wholesaling in California. My strategy was to acquire properties in land trusts then assign the beneficial interests of the trust to my end buyer. However, my escrow agent recently told me "no Land Trusts. Nobody I know of is closing on them anymore in California. Land Trusts are not compliant or covered by probate code so title companies don't like them. You must use a traditional trust. Title holding trusts are no longer allowed in California." I know this video is 4 years old so I'm curious if this wholesale trust can be used as a work around for California and provides all the same benefits that a land trust does. Thanks!

[@ClintCoons]

First off the person with whom you spoke is wrong. We use land trust all the time in CA - probably set up 50 or more a month and it is never an issue. I have to answer this question a lot because escrow agents etc., give incorrect information. See www.boe.ca.gov/proptaxes/pdf/220_0814.pdf. Despite the comment the real issue comes down to closing in a land trust and the type of loan the buyer is obtaining. The lender will object to the trust because the broker can not sell the loan if it is to a land trust.

[@jesham7627]

Is the Wholesale Trust still applicable? There has been wholesaling regulations put in place as of 2020.

[@ClintCoons]

Yes

[@juslostone]

Hi Clint. If I'm entering into agreements under the trust and I'm selling that trust to my buyer, who does the title company make my check out to? Would this ever be a problem

[@fidel2xl]

Based on what I saw Clint present in the video here, I'm assuming that the check that the Buyer pays you (the wholesaler) is made out to the Trust Beneficiary. In the example cited in the video, the Trust Beneficiary is your Corp (or your LLC). It is your Corp (or LLC) that sells its beneficial interest in the Trust to the Buyer...and therefore any check or wire would be made out to your Corp/LLC, or wired to the bank account belonging to your Corp or LLC.

[@juslostone]

@@fidel2xl I actually closed this deal in a trust I created. The check was made out to the Trust. I had to open a bank account in the name of the Trust and as the Beneficiary I was able to cash out and close the account. So yes.

[@fidel2xl]

@@juslostone - Wow, that's weird since doing it the way you described may present some legal issues. Because when you sold your beneficial interest in the Trust to the Buyer, the BUYER then becomes the Trustee (under their name) and the Trust Beneficiary (under their LLC or Corp etc). Therefore, any bank account opened in the name of the Trust can only be legally transacted by the new Trust owner (the Buyer and/or the Buyer's LLC/Corp). You (the wholesaler) would no longer have authority to cash any checks on behalf of the Trust, since you're no longer associated with the Trust whatsoever (remember, you sold the Trust to the Buyer). I think what happens a lot is, that many companies out there (in this case the Title company) and even banks etc sometimes don't understand the proper procedures regarding Trusts, so they 'make up their own rules' to fit their lack of proper understanding. I think if it were explained to the Title company that it was not the Trust making the transaction with the Buyer, but it was instead the Trust BENEFICIARY (you) making the transaction with the Buyer, therefore the check should be made out to the Trust Beneficiary (you), then the Title company would've understood the concept. The Title company in your case did the transaction as if the Trust entity was making the deal with the Buyer. Nope...YOU (or your LLC) made the deal with the Buyer, whereby YOU (or your LLC) sold the Trust to the Buyer. therefore the check should have been made out to you (or your LLC). Here's another way to look at it. If you owned a car and you sold the car, the check from the Buyer is sent to you (the Seller). The check is not made out to "The Car". The 'Car' does not need its own bank account. Same with the Trust. The Trsut is like a car. You SOLD the Trust (you sold your Beneficial Interest in the Trust). You are the seller...not the Trust. The check should have been made out to you as the SELLER of the Trust.

[@starr8111]

How to keep the trustee private when wholesaling a land trust

[@indirawilliams9610]

Does it have to be a C Corp? I have an LLC can I do this method with the LLC.

[@ClintCoons]

It can be an LLC. I am speaking to the taxation of the entity not necessarily the form.

[@starr8111]

When you fill out the trust with the seller do you keep one for yourself and you also fill it out again the same way and give the seller a copy or can I just make a digital version of the trust and email the seller

[@fidel2xl]

The Trust Document is not given to the Seller. The Trust Document has absolutely nothing to do with the Seller --- that document is for you only. The ONLY document the Seller gets from you to sign is the Real Estate Purchase Agreement --- that's it. Except that, on the Real Estate Purchase Agreement, instead of your name or LLC's name as the Buyer, you instead use the TRUST's name as the Buyer. The TRUST (the 'Trust name you created) is the entity transacting as the Buyer on the Purchase Agreement. An example: Let's sat that the Seller's property is at address "123 Main Street, Whateverville, OH, 10020". When you fill in the Purchase Agreement to give to the Seller to sign, instead of using your own name or your company's name, you simply use "123 Main Street, Whateverville, OH, 10020 Trust" as the identity of Buyer. This Purchase Agreement s the ONLY document between you and the Seller. Nothing else. And technically, you don't even have to create the name of the Trust before you use a newly invented Trust name on the Purchase Agreement with the Seller. Just make sure and simply add the very same 'Trust name' that you used on the Purchase Agreement, on one of your empty Trust Agreements as the name of that Trust. But the bottom line is, the Seller never gets a copy of your Trust. They have nothing to do with it.

[@kenmiguel2986]

I want to start doing this! I don't know where to even start. I'm in the medical field this is all new to me but I've heard of it. Clint tell me more about your law firm and the platinum service. Your video is good but I know it goes deeper than this and I need professional advice. Also how do I even start looking for an investor? I live in California, I understand your law firm is out of state and would that be a problem if I hire your lawfirm to do business in California?

[@ClintCoons]

Not at all. We work with many California real estate investors.

[@g-money7979]

This seems to be based on the wholesaler selling the contract for cash payment upfront and the investor(endbuyer) paying all cash for the property. How does this work if the investor(endbuyer) is financing the property and paying the wholesale fee at closing via the HUD-1?

[@ClintCoons]

It will get paid out of closing. Many wholesalers structure their deals to be paid at closing.

[@Godblessshello]

Are the title companies ok with the land trust ?

[@ClintCoons]

Depends on where you are buying. You can always close in your own name or convert the trust to a living trust.

[@whymindsetmatters]

Can I operate a Wy llc as holding company acting as manager of the C Corp and still use the Wholesale trust?

[@ClintCoons]

Probably but I think you have a lot going on here and I suggest you set up a FREE 30-minute consultation to look at what you are looking to accomplish. I think you want to use an entity with anonymity so you can wholesale but you should talk to us first to make sure you understand how to set it up. You can request one here - aba.link/30minSession

[@starr8111]

What if I don't want my name to be on there as a trustee do I need to open up a second LLC to be the trustee and wholesaling c-corp be the beneficiary

[@gloryfulskip]

thats what i'm trying to figure out too!

[@alliesteamc3546]

Do you quality control review client drafts? If so who to call and what phone number? Thank you!

[@ClintCoons]

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

[@TheGolfster3]

'Wholesale' is just a fancy term for 'real estate agent' w/out the two week training. In both instances you can incur shitload of liability especially if you don't know wth you are doing!

[@nobodycamnotguilty4497]

TheGolfster3 ok

[@pathtoalaska1860]

no. a real estate agent sells real property, a wholesaler sells the contract. if you try to sell real property without a license that is a felony and you can go to jail.

[@REVerbtalk]

An unlicensed "wholesaler" does not "sell" contracts ... they ASSIGN contracts

[@chosen1_jd]

So you would basically sell the trust to the investor for what your “wholesale fee” was?

[@ClintCoons]

Correct

[@chrisnossoughi9039]

Do you only work with clients in Cali?

[@ClintCoons]

We work nationwide.

[@sykritmanuwva4472]

OK Clint,,,,just to be clear you said that my seller wouldn't know about the Trust??? Then you say that the only thing the seller knows is that the property would close in the name of the Trust,,sooo would i present the seller with Both documents The purchase agreement as well as The Trust form,,???? Or No....(just the purchase agreement) a little confused,???? LOVE YOUR VIDEOS BY THE WAY..AWESOME STUFF!

[@sykritmanuwva4472]

So,, that would be 2 documentations The Trust and Purchase Contract to seller and then assigning trust to End Buyer???

[@fidel2xl]

@@sykritmanuwva4472 The Trust Document is never given to the Seller. The Trust Document has absolutely nothing to do with the Seller --- that document is for you only. The ONLY document the Seller gets from you to sign is the Real Estate Purchase Agreement --- that's it. Except that, on the Real Estate Purchase Agreement, instead of your name or LLC's name as the Buyer, you instead use the TRUST's name as the Buyer. The TRUST (the 'Trust name you created) is the entity transacting as the Buyer on the Purchase Agreement. An example: Let's suppose that the Seller's property is at address "123 Main Street, Whateverville, OH, 10020". When you fill in the Purchase Agreement to give to the Seller to sign, instead of using your own name or your company's name, you simply use "123 Main Street, Whateverville, OH, 10020 Trust" as the identity of Buyer. This Purchase Agreement s the ONLY document between you and the Seller. Nothing else. And technically, you don't even have to create the name of the Trust before you use a newly invented Trust name on the Purchase Agreement with the Seller. Just make sure and simply add the very same 'Trust name' that you used on the Purchase Agreement, on one of your empty Trust Agreements as the name of that Trust. But the bottom line is, the Seller never gets a copy of your Trust. They have nothing to do with it.

[@sykritmanuwva4472]

@@fidel2xl Your response is A bit late But I Understand this Now,,I had to Dig Deeper into Your videos, Appreciate Sir..✌👍👍💯💯

[@fidel2xl]

@@sykritmanuwva4472 - Oh, I'm not Clint...this isn't my video...lol. I'm just someone who also came across Clint's videos in the past couple of days, and have been very intrigued by what was presented here. Cheers!!

[@dariushunter8630]

How can I get my hands on this Wholesale Trust?

[@ClintCoons]

We offer it as a kit. If you contact us to set up a strategy session we can discuss the benefits of the kit and whether it will work for your situation.

[@ronaldboren6215]

Why not an option contract? Why not a DBA?

[@REVerbtalk]

We use options, we are nothing more than a DBA. We have business liability ... 10 years strong, never had an issue with assigning a contract. They way our agreements are written per RE license law following ... We DO NOT tie up property, non-exclusive, take no ownership of title nor property. We are clouded to not be responsibile for damages as we put that on the buyer. On the buyer agreement the BUYER is responsible for all damages and we are not... Completely dodges any aspect of a lawsuit because we have nothing to do with the property, just the contract. I can show you our agreement if need be. It was written by an x lawyer firm in San Antonio. No longer in business (passed)

[@starr8111]

@@REVerbtalk just getting started can i please have that agree ment and what kind of liability insurance to get for wholesaling

[@marymaryquitecontrary7525]

RE Verb can I also have a copy of that agreement? I may want to incorporate some of the clauses into my offer. I'll contact you on your YT channel.

[@twhite6692]

RE Verb i am interested in this contract as well

[@jackgriffin8511]

@@REVerbtalk - Can I please get a copy of this contract? I will pay you a reasonable fee.

[@brcam2013]

@7:53 ? Literally all of your videos mention the use of LLCs for Real Estate. Now we are moving on to forming C-Corps? Didn't you once say that C-Corps etc were costly and unnecessary previously? I should've included a link to that video in this comment. Why the switch? Is it because of this specific topic of wholesaling or? I love your videos by the way, so not trying to be negative.

[@ClintCoons]

Yes it has to do with taxation but keep in mind you can have an LLC taxed as a C-Corporation. The tax status is what is most important for your wholesaling entity.

[@tonyjablonski]

I'm a licensed agent, my company prohibits personally wholesaling. By using this strategy with a company, am I protected?

[@ClintCoons]

Not sure. You should check with your employer.

[@tonyjablonski]

@@ClintCoons thanks! Will do.

[@GILLC-kn9rj]

Can this be done in Texas ?

[@ClintCoons]

Yes but remember in Texas all contracts are assignable so you can just use a corporation and assign your deals over to a buyer.

[@GILLC-kn9rj]

Ok , but your are speaking solely about wholesaling and only wholesaling, correct? If I want to buy and renovate , then sell , you would suggest purchasing with the land trust and LLc combo ?

[@ClintCoons]

@@GILLC-kn9rj No it would be easier to use a series LLC with a new cell for each flip in Texas. See my other videos on Series LLC. Also, consider setting up a strategy session to discuss your situation. aba.link/30minSession

[@chasedial8271]

Say you have your WY Corp. You get a property under contract in say TX or TN or wherever using your trust. Do you still have to worry about registering as a foreign business with the state(s) you have the property(ies) in? This may be a stupid question but I'm just trying to figure this out.

[@ClintCoons]

Not unless you are conducting multiple deals in the same state.

[@chasedial8271]

Thank you for the reply and sorry for my late reply. So if I'm doing multiple deals in the same state, TN for example since that's where I live, then I would need to register as a foreign business? But then what's the point of forming the WY corp? Other than anonymity, since then I would be dealing with 2 states' taxes & filings & what not.

[@randallnoblittii7763]

Is this wholesale trust still relevant in 2024?

[@ClintCoons]

Absolutely.

[@icon_xb2genrich]

Clint you are great attorney that could help my business One day I will get you to guide my real estate 🏡 investment

[@gloryfulskip]

Aren't you not suppose to serve as your own trustee though?

[@fidel2xl]

The example he gave in this video, the Trustee and the Beneficiary are different. In the examples provided here, the Trustee is you (the wholesaler), and the Trust Beneficiary is your LLC or Corp. However, if the Trustee and the Beneficiary were the very same person or entity, then the Trust 'breaks' and everything the Trust owns would simply revert into the name of the Beneficiary.

[@gloryfulskip]

fidel2xl YOURE HIGHLY APPRECIATED MAN❗️ THANKS 🙏🏽

[@michaelglatzel6136]

It's not HO-saling