Thank you. I find your content extremely helpful and hope your channel does well.

Makes sense, you need to structure the business so that it aligns with your goals as well as your situation. I appreciate you sharing another way to look at it, awesome!

Thanks so much, I really appreciate you breaking down the revocable trust as the parent entity

Karlton, just found you!!! I am a CPA "Inactive", EA, investor, and high school teacher. Your ability to break things down is great! I'll definitely be sending clients your way to subscribe. Having another EA and investor explain things is of great benefit to me. Keep rocking my young brother!!!

Another great video! I learn so much from your content. I can’t wait for the next one

Thank you for your LLC formation advice, Karlton! Over the past two years, I wondered the answers to many of the questions you posed, and your careful consideration of when and why helped affirm I made the right choice. I waited to form separate LLCs given the low value of my rental properties, but now that I have a small portfolio acquired and the costs to form and file for each LLC are comparatively low, I formed four more LLCs yesterday. Your contributions to the KZread community are much appreciated!

@karltondennis

3 жыл бұрын

That’s awesome William! It’s a tricky discussion when it comes to how many LLCs but I’m glad your finding success, and doing it the right way! Thank you for subscribing 👊🏾

I just found your channel today and have to say I love it. Great content and you explain things so clearly. Thank you!

Good info once again

Great explanation. Thank you!

Seriously great seeing this type of informational content. When I first started some big box all in one services touted WY and NV LLC for use. They don't tell you about foreign entities and having to deal with laws in both states.

@keiserrep0rtenespan0i48

3 жыл бұрын

W...H...Â...T...S...A...P...M...È🤗

@keiserrep0rtenespan0i48

3 жыл бұрын

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I like your teaching style! I’m new to your channel and I’ve watched 10 videos and understood each one clearly.

@pinned.bymarktilbury2858

3 жыл бұрын

Thanks for your comment FOR=GUIDANCE=AND=INVESTMENT w••h••a••t••s••a••p••p +1...."2....."6....."7....."3....."8...."9....."1....."5...."3....."5 ..

I just found your channel. It's everything I've been looking for. You break down complex financial concepts into very understandable lessions. Awesome work and subscriber for life!

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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Good breakdown. Thanks.

Man, I truly admire this guy and his delivery !!!! Extremely wise !!!! I trust his advice !!!!!

Thank you very much. OMG please keep doing what you are doing. Excellent content

Fantastic video. Definitely will be reaching out to you

Very powerful content!!

great content!

Love your info. New subscriber!

Just the information I was looking for!!!

I'm impressed with the content!

This is really great info! These are questions I've asked my tax preparer that they couldn't answer or couldn't answer clearly. Thank you for the great content - keep those videos coming!!

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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Love your channel! Easy to learn from. Thank you for sharing your knowledge with us! Excited to learn more!

@keiserrep0rtenespan0i48

3 жыл бұрын

👍🏾💚

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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Great info to share 💪💯

Great work!

Great info!

Very good content. I’m not complaining just want to help with some feedback. Try to figure out how to kill the echo and get you one of those expensive mics. Out side of that you’re legit sir

Awesome video. I went with Wyoming as the parent company and currently own one property in another state that I set up an LLC in to own that property. The LLC is owned by the Wyoming company to shelter me. This is what my tax attorney and CPA both recommended as we plan on getting more properties but likely in 1-2 other states (which will have their own LLC for the reasons you stated in this video about foreign entities).

@karltondennis

3 жыл бұрын

Thanks for sharing! I am setup very similar to you.

I just opened an LLC in Florida and I want to get into real estate investing. This answered so many questions for me!! Thank you Karlton

Great advice, You're content is invaluable...

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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Great video

Could you comment or maybe a video on why one would do LLC vs Umbrella policy over assets? I recently added a property & added that through our insurance carrier and it seems to be a simpler probably cheaper protection than LLCs

It sounds like you should definitely set up different LLC's. Thanks!

I just discovered u today 5/21/21. KZread must of share u based on my algorithm. So glad I found u. Thx for sharing the great content. I subscribe. Love what ur sharing:) wish u great success 👍

@pinned.bymarktilbury2858

3 жыл бұрын

Thanks for your comment FOR=GUIDANCE=AND=INVESTMENT w••h••a••t••s••a••p••p +1...."2....."6....."7....."3....."8...."9....."1....."5...."3....."5⬆️

very useful infos

Ya intro going dumb🔥🔥🔥

Great info my friend!

@keiserrep0rtenespan0i48

3 жыл бұрын

👍🏾

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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Hi Karlton! I love your videos! Very informative and enthusiastic. I know you have extensive knowledge on how to use LLCs for property investing, but I am wondering if you have any knowledge how LLCs can work/benefit Day Traders when it comes to taxes? If so, I would love to get some advice or a video on how us day traders can leverage an LLC for tax purposes and how it works exactly. Looking forward to hearing from you soon!

@pinned.bymarktilbury2858

3 жыл бұрын

Thanks for your comment FOR=GUIDANCE=AND=INVESTMENT w••h••a••t••s••a••p••p +1...."2....."6....."7....."3 ......"8...."9....."1....."5...."3....."5

can you do a video on tax strategies for an scorp what business owners could do pay less in corporate tax and capital

Great information

Pick up so knowledgeable information. This guy rocks!!!

Great video very informative

@pinned.bymarktilbury2858

3 жыл бұрын

Thanks for your comment FOR=GUIDANCE=AND=INVESTMENT w••h••a••t••s••a••p••p +1...."2....."6....."7....."3....."8...."9....."1....."5...."3....."5 ..

Finally a tax professional that makes sense! Realistically yes I would love to have an LLC for every property. Practically, not so much! Curious, are you taking new clients? I have several businesses and properties, and I my current accounting firm does a great job, but I need these details!

I really appreciate your advice because I feel like I have received a lot of bad information on who is entitled to have a revocable living trust.

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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I am committed to self-development & thriving.

Hey Karlton! Would you recommend setting up your current home or about to purchase home as an LLC with an intend of having it as a rental later? Say can you rent from your own business? Thank you for the great vid btw!

your the man

You ars amazing! Your KZread contents are always easy understood. When do I set up LLC from Delware if I shouldn't set up for rental property from Delware? Thanks !

Very informative

I do HVAC and I want to start an LLC but I want to understand all the taxes I will be paying and want a better understanding of tax write offs And most importantly understanding of self employed tax

This content has shifted my perspective on financial health. Thanks for curating this information. If I hold the Apple Pencil the way you do, I’m bound for creative abundance!

Outstanding. Should you decide to change careers, I suggest teaching. Well done!

Really great information. Private consultations available?

What about having a trust own each property and the LLC being the beneficiary? The "own nothing, control everything" approach?

Great video. What you really want is not "A Basket of Eggs" where one lawsuit could affect all of the eggs in the basket. What you want is a protective "Carton of Eggs" that will hold each egg carefully so that it will be protected from lawsuits.

My question about the three properties which is my situation before I get to earnings- Do I first change the deed(s) with the county (if lander allows ) from my personal name to LLC(s) or the deed should go on a trust?

Awesome!!!!

Great video 👍🏻, 1 question: if I have my rental properties under my LLC name, houses insurance need to be under my LLC name or can i do it with my personal name??

As a future Rental property investor I really needed this explanation. Might end up using a fha loan for my first property at age 21

@pinned.bymarktilbury2858

3 жыл бұрын

Thanks for your comment FOR=GUIDANCE=AND=INVESTMENT w••h••a••t••s••a••p••p +1...."2....."6....."7....."3....."8...."9....."1....."5...."3....."5 ..

@Feddy99

3 жыл бұрын

@@pinned.bymarktilbury2858 shutup bot

@2452dee

3 жыл бұрын

@@Feddy99 look into Lisa Phillips Real estate on KZread. She's awesome and has real life stories about "house hacking"

Great food for thought

After having multiple homes under 1 LLC, can you eventually create an additional LLC for a property already under the old LLC? Or no?

What makes a “Revokable Trust,” Revokable? Who has the authority to revoke? What other types of Trust, are available?

Excellent Video 😎😎😎😎😎😎😎😎

Does it matter if I buy the property prior to creating the LLC I want it to go into?

Do you think a personal home (my first home where I reside) should be under an LLC too? Thank you for your time in advance.

Please do a vid solely on a revocable trust.

@pinned.bymarktilbury2858

3 жыл бұрын

Thanks for your comment FOR=GUIDANCE=AND=INVESTMENT w••h••a••t••s••a••p••p +1...."2....."6....."7....."3....."8...."9....."1....."5...."3....."5.

Get a Series LLC that way you can have multiple properties under one LLC and each is it’s own entity.

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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What if you live in one state but all your Real estate flips would be in another state? Is it possible to set it up for that other state? With understanding that the business address/ office being the state where you live?

I live in Washington state and would like to know if i have to report my rental income to IRS of my two rental properties that i bought two years ago. This properties are not mine the bank owns it so I am paying mortgage on both. Thank you

lets say i have an s-corp that is a real estate agency/brokerage and i also have a real estate investment company that is also an s-corp (owns individual llcs for and invests the cash from the agency/brokerage). would i be able to put both those parent s-corps into a revocable living trust, and how would that living trust limit those businesses in the future if i decide to sell shares to investors or I pass away?

@pinned.bymarktilbury2858

3 жыл бұрын

Thanks for your comment FOR=GUIDANCE=AND=INVESTMENT w••h••a••t••s••a••p••p +1...."2....."6....."7....."3....."8...."9....."1....."5...."3.....5

I'm abt to buy my first rental property, looking at the loan application as I type this ... are there any other videos to watch in order for me to move forward confidently?

Hi, what about in Florida it's work different?

Do you know a lender who can structure a mortgage loan with newly form S corp?

Currently active duty here in San Diego and have out of state properties in Cleveland. I’m getting mixed recommendations on where to setup the LLC. Ideally I want to reduce the cost, not file in CA, but want to make sure it’s all legit

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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Love the content but you have to get a microphone brother the sound quality is hard to sit through your channel will easily pop off over 100k if you fix that.

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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How much revocable trust cost?

What is your opinion for LLC's for short term rentals. What if someone has three short-term rentals since there are so many different people staying in each location what is your opinion on an LLC for each one?

@wdavis

3 жыл бұрын

id say definitely seperate llcs because more people going into the property means more risk and liability, so separate llcs for each to protect your other properties from each other.

@d.richardjemal7837

3 жыл бұрын

@@wdavis awesome, thank you!

I have 1 rental property should I have a LLC for it?

I have an existing llc with a dba for a 12 yr retail shop I recently closed. Can I use the existing llc for a house I am building for rental purposes?

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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Great Great Info! You explain in a way that makes sense and easy to grasp. Are you connected to Karla Dennis is any way?

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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I wonder if you can transfer a HELOC to an LLC?

Question. Those every expense to opening a LLC count as a tax deduction?

@pinned.bymarktilbury2858

3 жыл бұрын

Thanks for your comment FOR=GUIDANCE=AND=INVESTMENT w••h••a••t••s••a••p••p +1...."2....."6....."7....."3....."8...."9....."1....."5...."3....."5 ..

Can i name realty name after my llc name if i do not have real estate license or broker license? thanks

What if you purchased the home under your name. Should you still set up the LLC? It was not planned to be a rental property but it turned out you now want to rent.

Does anyone know if a business running an Air BnB can write off local taxes? The location I'm looking at has a 10% tax I'm hoping to find someway to write off.

Thanks sir so appreciate your due diligence in providing information I have some questions, I have a company called Visionary concepts Corp and I have my namesake foundation under it and two clothing lines as well as two skin care lines under it one for men and one for women can all of these licensed companies co exist under this one umbrella.

@keiserrep0rtenespan0i48

3 жыл бұрын

👍🏾

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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I live in Florida and the home owners insurance is costly, I have not set up and LLC yet however I'm considering buying rental properties in Alabama. I know that you were ambivalent about this in the video but I really don't feel it to be beneficial to purchase for renting property in Florida right now. Any suggestions?

But what if you just HAVE ONE inv property ?

Is it $800 to california per LLC created?

Should my LLCs always be through Wyoming? 🤷🏽‍♂️ can I split the difference

What about in states that allow for LLCs's?

@pinned.bymarktilbury2858

3 жыл бұрын

Thanks for your comment FOR=GUIDANCE=AND=INVESTMENT w••h••a••t••s••a••p••p +1...."2....."6....."7....."3....."8...."9....."1....."5...."3....."5.

If the real estate is in LLC, doesn't it become active income? I started listening yesterday and I subscribed today. So I'm quite a bit behind. 🥺

Couldn’t you just set each property in a different trust under 1 LLC to protect yourself from a person coming after all the properties in the LLC?

subscribed.

@keiserrep0rtenespan0i48

3 жыл бұрын

👍🏾

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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Karlton, Your videos are amazing! So informative for me, and well presented, Thank You!

Do I still pay capital gains taxes if I live in a duplex as my residence for two years before relocating? Even tho I rented one side out

@karltondennis

Жыл бұрын

If you sale the property for a gain, there is depreciation recapture taxes on the side that was rented. On the side you lived, you can receive a $250k tax exclusion from Cap gains if you sale within 5 years.

@fivestar000

Жыл бұрын

@@karltondennis there would be a gain I lived there for 2 years and rent the other side out, it would be 60k appreciation gain wasn’t sure if I would have to pay on the full property or half since everything for those two years was split in half

why would it cost $1000 to set up an LLC ? is this dependant on structure ?

How do you move your assets from one LLC to another LLC? Do I need an attorney?

@keiserrep0rtenespan0i48

3 жыл бұрын

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@keiserrep0rtenespan0i48

3 жыл бұрын

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What if I still live in the property and I rent out the other side. Should I get an LLC now or wait until I move out and rent the side that I live in?

@pinned.bymarktilbury2858

3 жыл бұрын

Thanks for your comment FOR=GUIDANCE=AND=INVESTMENT w••h••a••t••s••a••p••p +1...."2....."6....."7....."3....."8...."9....."1....."5...."3....."5 . .

I have one property that I pay mortgage on. Do I need an LLC to rent that property?

@pinned.bymarktilbury2858

3 жыл бұрын

Thanks for your comment FOR=GUIDANCE=AND=INVESTMENT w••h••a••t••s••a••p••p +1...."2....."6....."7....."3....."8...."9....."1....."5...."3....."5⬆️