Would you like to learn more about this topic and talk to someone? Schedule a free consultation here: aba.link/2bi

My 4th video. So much more to learn than I realized. Thanks Clint

@ClintCoons

Жыл бұрын

Great to hear!

You're amazing someone in comments of another video recommended you. You're a gold mine of knowledge

@ClintCoons

Жыл бұрын

Thanks

Best training on LLC's I've ever come across. Thank you

@ClintCoons

Жыл бұрын

Wow, thanks!

I’m so glad I found your channel thank you for this content

@ClintCoons

Жыл бұрын

Welcome! Thanks for the visit

I really did think of the address naming schema for my LLCs before this video. This video just confirmed my idea!

@ClintCoons

Жыл бұрын

Andrew Stringfield Thanks for watching.

Very helpful. Thanks for posting!

@ClintCoons

Жыл бұрын

Glad it was helpful!

Thank you, great advice.

Love the fact you write stuff on all your videos for us visual learners !

@ClintCoons

Жыл бұрын

I appreciate that!

Very helpful. Thank you!

@ClintCoons

Жыл бұрын

Glad it was helpful!

Great Video, what about if you have more than 1 property in the same state with 2 different addresses? Should you create a separate LLC for each property using the addresses or put them in 1 unique named LLC for that state? Thanks!

@ClintCoons

Жыл бұрын

Separate LLCs and use the same address for both.

Excellent!! Thanks!!

@ClintCoons

2 жыл бұрын

You're welcome!

Have you done a video on if you should setup a WY Close LLC vs a regular WY LLC?

@ClintCoons

2 жыл бұрын

This topic is covered throughout many of the videos. Here is one: kzread.info/dash/bejne/ipiH0peAiMXPdZc.html

Mr. Clint..when transferring personal property to a land trust by way of an assignment, does the assignment have to be notorized and recorded in the County courthouse?

@ClintCoons

Жыл бұрын

Notarizing is a good idea to prove when it was executed but it does not need to be recorded.

Thanks for the video..... are you saying that it makes sense to have seperate LLCs for each property rather than having them all under one?

@ClintCoons

Жыл бұрын

That is correct to a point then I feel comfortable grouping assets.

Hi are these strategies also applicable to set up in other nearby countries, like Canada? Just like you set up a wyoming LLC but live in ,say, Texas, is it possible to do it in a similar way in Canada?

@ClintCoons

2 жыл бұрын

I do not know.

Wouldn't the Evergreen 1,2,3, or 4 tactic be more appealing for getting different vehicles registered/ insured as company cars? And not particularly for Real Estate?

@ClintCoons

2 жыл бұрын

That could work but it might increase your insurance cost with the different entities.

Good stuff 😃

@ClintCoons

2 жыл бұрын

Thanks for the visit

Lol" why the hell would you do that" I love it.

Is this the same for short term rentals? If the property is in TX would it still be ideal to start with the Wyoming LLC for the air BnB LLC?

@ClintCoons

2 жыл бұрын

Yes, the type of activity will not change the strategy.

I might of have misses something here, but it sounded like you said you can rename or change the LLC name after closing. When you close on the property, if you are putting it in your name at closing instead of the LLC name, would you not be exposed at that point when someone looks up the property record? Or are you suggesting transferring your name to the newly created LLC name which involves a quit claim deed later?

@ClintCoons

2 жыл бұрын

You can rename your entity after closing but you will have to update the deed. In some instances it may be better to change the name after your money has gone hard.

@AdrianButler86

2 жыл бұрын

@@ClintCoons hard meaning, all is signed sealed and delivered lol correct?

IN LOUISIANA IS AN LLC STILL IN EFFECT IF YOU DON'T FILE ARTICLES OF ORGANIZATION FOR 3 YEARS IN A ROW

@ClintCoons

2 жыл бұрын

It was probably administratively dissolved.

Great video!! I do have a question though. I understand the point of creating a LLC to protect personal assets and investments. But I just need clarification on one thing. Owning an LLC that owns a property is entirely different from owning a property? Like, if someone was to come after my assets, they wouldn't have access to all the LLC's I own?

@ClintCoons

8 ай бұрын

A creditor could not take your LLC if you have set it up in a state with strong charging order protections.

@1hawaiiankoa

8 ай бұрын

Thank you my friend @@ClintCoons

Thank you so much for your guide!

@ClintCoons

Жыл бұрын

Glad it was helpful!

Is it OK to do a series LLC if you have multiple properties or is it best to make an LLC for each separate property real estate

@ClintCoons

Жыл бұрын

If the state where the properties are located recognizes the Series then I would use it.

Do you have any Utah offices or associates or just Wyoming, Nevada and Washington?

@ClintCoons

2 жыл бұрын

Yes in Salt Lake.

I saw a video that was extremely similar to this one made by "The Business Guy" on youtube. Seemed like he took heavy inspiration from this one.

@ClintCoons

9 ай бұрын

I am glad I can be of inspiration to others.

Yes but how does this affect you if you are doing a 1031 exchange as most are? If you own a large property under a S Corp and then sell and buy two other properties. You want to set up two LLCs that are owned by the S Corp in order to defer taxes?

@ClintCoons

2 жыл бұрын

Yes you can close this way with a 1031 provided the downleg entity owns 100% of the upleg LLC.

What if you sell the property through a 1031 exchange? Would you simply change the name of the LLC to match the new property’s address? For LLCs that own more than one property?

@ClintCoons

4 ай бұрын

I have a few videos on 1031's if you search my channel. I prefer to set up a new disregarded LLC owned 100% of the relinquishing LLC.

If you have already closed on the property can you still put it in a LLC ? Or do you have to refinance in order to do so?

@ClintCoons

2 жыл бұрын

No you can move it into an LLC but I recommended you set up a strategy session with my office to discuss your options. Depending on the state you may want to use a land trust or WST. See the show notes for a link to the strategy session.

if purchase under individual name, would it be better to set up LLC after the offer is accepted as closing takes some time. In this way, there is no need to change the name of LLC?

@ClintCoons

2 жыл бұрын

Yes that could work.

Should you create an LLC for each property that you own? Or is it okay to have multiple properties owned by one LLC?

@ClintCoons

11 ай бұрын

Best to have one property per LLC until your portfolio reaches 15 properties then you can take on more risk.

I've looked on the website do I just call the 888 number. Only have 2 properties in Louisiana, mortgaged titled to me, talked to bank about switching title. I'd like to set up anonymity. Looking for a email.

@ClintCoons

2 жыл бұрын

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

Here your thinking

My property and lot are already in my personal name No llc yet still researching how this should work can I change it?

@ClintCoons

2 жыл бұрын

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

Hey Clint I am taking your advice on starting a entity and was wondering if I could email you a few questions and ideas I had. Hopefully you can point me in the right direction

@ClintCoons

3 жыл бұрын

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

@kapodadon9607

2 жыл бұрын

@@ClintCoons thanks absolutely I really appreciate it.

in your "naming a trust" vid, you say to name the trust and llc the numbers of the address. during a search for assets wouldnt that be the first thing an attorney recognizes, the address? ie 1515 trust? tenants living at the same 1515 address?? for ease and to not confuse this would work 100%, for anonymity sake im questioning this

@ClintCoons

2 жыл бұрын

Yes but remember the trust does not provide asset protection and the attorney will eventually discover the LLC.

Trying to find Clint Coons video that says must do some federal registration or huge penalty or jail

@ClintCoons

2 жыл бұрын

Here you go: kzread.info/dash/bejne/oKqgqKxridTQmKQ.html

Is it a good idea to get a DBA for the LLC?

@ClintCoons

2 жыл бұрын

In some situations the answer is Yes.

@blossomrobloxheat

2 жыл бұрын

@@ClintCoons You're the best!!!

Would having the word "Holdings" for the WY holding LLC be a no-no? Only thing I can think of is that seeing the name holdings on the LLC members may mean they go digging for the other LLC it holds. Is that a fair assessment or would it be no problem to name it, for example, "JYG Holdings LLC"?

@ClintCoons

Жыл бұрын

Yes but if a person is going to dig the name will appear on multiple LLCs. The only way around it would be to use separate property trusts for each LLC into the holding LLC.

@gdrinot

Жыл бұрын

So may be best to avoid using the word "holding" in the name.

What if I am investing in different properties to re-sale these for a profit. For example; Can I use the Land Realtor Pro LLC or will "Realtor" put me into trouble f I am NOT a Realtor? In other words, Can I "Realtor" on my LLC? 🕵

@ClintCoons

5 ай бұрын

I do not understand the question. If it is can you sell your own property out of an LLC the answer is yes. What are you looking to accomplish with your proposed strategy?

@landpro1

5 ай бұрын

@@ClintCoons i am sorry, but my question was; can i create an LLC with the word Realtor. Example of what i have in mind is "Land Realtor Pro LLC"? I am struggling to come up with the name. Should i avoid "Realtor" to prevent any problem down the Road? Just don't know. But i like that name for my real estate business...!

@ClintCoons

4 ай бұрын

@@landpro1 I would avoid using realtor. Unless you are a licensed broker it could create problems for you down the road.

@landpro1

4 ай бұрын

@@ClintCoons thank you, Apreciate

I’m a little confused. What if I’m wanting to invest in multiple properties in the same area? Why name it after a single property? Why not just have a general name for all my investment properties?

@ClintCoons

2 жыл бұрын

To keep the LLCs straight and what they hold. I used to use the generic route like you described and it became a mess for me when trying to remember which LLC holds which property.

@heatherhg

2 жыл бұрын

I agree, if I’m investing in multiple properties under the same LLC, then I don’t have to remember which LLC holds which property because I only have one! What’s the point in having multiple LLC’s for the same exact business type?

@ClintCoons

2 жыл бұрын

@@heatherhg Asset protection. If you place all of your properties in one LLC and a lawsuit develops against the LLC then everything held in the LLC is at risk.

@AdrianButler86

2 жыл бұрын

@@ClintCoons yep especially silly if u have 1 out 5 props in the 1 llc and the 1 prop is significantly more valuable than the others. If u get a judgement against the least most valuable prop then all props including that very valuable one is at risk also. Is that right clint? I'm learning from all ur content ;)

@ClintCoons

2 жыл бұрын

@@AdrianButler86 That is correct.

What's the best way to find the correct person to set up my llc?

@ClintCoons

10 ай бұрын

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

But but Toby said to write the Street of the Property as the Land Trust name, not the LLC name. The LLC is the trustee. 2. You only have 15 days to request an EIN # for the Registered LLC, especially if chosen to be an S Corp. Why didnt you teach us that?

@ClintCoons

Жыл бұрын

There are more than one way to set up a structure.

Wouldn’t someone be able to easily find you if you were on a deed and associate you to a property if you named an LLC after said property assuming you bought it in your personal name? Doesn’t that defeat the anonymity you are trying to achieve?

@ClintCoons

Жыл бұрын

Yes you are in the chain of title and one might assume you are connected to the LLC that currently holds title to the property.

Are you saying that every property has their own LLC? Let's say I live in Ohio and I have five properties in that state. I cannot put all five properties under one LLC?

@ClintCoons

2 жыл бұрын

You could but it is not recommended.

There is a famous quarter back that called his LLC after his dog :)

👍👍👍👍👍

The funny thing is Progress Residential and American Homes 4 Rent break all these rules on the single family homes they’ve bought. Plus they put their company address on every property they buy near me.

Can u get a bank account and a loan with an LLC anonanimity memebers.

@ClintCoons

Жыл бұрын

Yes but you need to disclose all of the LLC documents

Are you saying don't have multiple properties in one LLC? I am confused. How many properties should I have per LLC?

@ClintCoons

Жыл бұрын

Correct. It is best to keep it to one property per LLC

@djackson9558

Жыл бұрын

@@ClintCoons thanks for the answer. Wouldn’t the costs of maintaining each property go through the roof?

@ClintCoons

Жыл бұрын

@@djackson9558 Depends on the state fees. Typically the annual fee for an LLC is under $250.

@djackson9558

Жыл бұрын

@@ClintCoons Got ya, thanks. I have another question that I have put on other videos of yours because I am desperately seeking sound advice that I can't seem to find. I have a question about naming my LLC. I used my initials as my WY holding company name before watching your video on “naming your LLC.” The company I created the LLC assured me that a lot of people use their initials for their holding company, but I wish I went with a random name. I’m not sure what my next step should be. Should I close the WY holding LLC and pay the money ($429) to open another Holding LLC in WY. The company I chose to help me with this process seems annoyed with me and they assure me that I still have anonymity even with my initials, is this true? The lady I spoke to said plenty of people have used the same name on their companies so I "should not be worried about anything." Any advice would be amazing, thanks!

@ClintCoons

Жыл бұрын

@@djackson9558 Using your initials does not necessarily blow your anonymity. For example, my initials are CC, and if I set up CC LLC, it would be near impossible to draw an inference unless someone suspected I was part of the overall structure. Thus, if you are using it as a holding company for other LLCs and want to build anonymity, you might want to consider starting over. On the other hand, if you are using it as a stand-alone entity to protect cash and savings, then I don't necessarily think a change is necessary.

..BUT NOT the FULL ADDRESS in naming the home LLC, I would imagine.?..... that might lead the creditor DIRECTLY to your home full address, destroying your anonymity, I would imagine.

@ClintCoons

Жыл бұрын

Correct - never use your personal address.

I heard it's not good to use the word properties & investments when naming your business because lenders Don't like to lend money to real estate investors.... Is this True???

@ClintCoons

2 жыл бұрын

That is generally true for flipping and wholesaling but not necessarily for long term investing entities.

@hunterevans2293

2 жыл бұрын

@@ClintCoons if I am creating a flipping/wholesaling company what verbage would be best for the name?

@ClintCoons

2 жыл бұрын

@@hunterevans2293 Something that indicates the business of the company. If you don't like it after you set it up you can always operate under a DBA.

@hunterevans2293

2 жыл бұрын

@@ClintCoons ok thank you! If I plan to use this company for things like investing plus real estate could I do something generic like “abc group”

@ClintCoons

2 жыл бұрын

@@hunterevans2293 Yes

Letter (RB)

Can my brand be different than my LLC name?

@ClintCoons

Жыл бұрын

Yes it can

Are you subliminally saying, to get one LLC per property?

@Eric_In_SF

3 жыл бұрын

No, They make no bones about it. You should put every property in its own LLC.

@seand6482

3 жыл бұрын

Or use a series LLC if you’re in a lucky state

@jackieokeefe1898

2 жыл бұрын

That’s what I’m wondering

@tommysuria5467

2 жыл бұрын

@@Eric_In_SF one lovely accounting nightmare 🙄

Quick question... If you close under your name and have yet to file the LLC...wouldn't your name be associated with the property on the deed with the county records? How can you prevent that? Suggestions anybody? I am closing in 6 weeks on a residential property ...and desire to do a Wyoming LLC? Plz...help...I s there time to set up an LLC? Process with the title company?

@ClintCoons

2 жыл бұрын

Are you using financing to purchase the property?

@sealseba8762

2 жыл бұрын

@@ClintCoons no. I am doing a cash sale

@ClintCoons

2 жыл бұрын

@@sealseba8762 If you want anonymity then consider using a WY LLC to hold the instate LLC that will close on the property. For example, if you were purchasing a property in WA state then the WA LLC would be member-managed by a WY LLC for anonymity.

@sealseba8762

2 жыл бұрын

@@ClintCoons thank you. How can I set up a consult. I would like your firm to evaluate and set up.

@ClintCoons

2 жыл бұрын

@@sealseba8762 If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

You forgot about the guy with the frog fetish

@ClintCoons

3 жыл бұрын

😂😂

Should you name your LLC after the name of an Airbnb?

@ClintCoons

2 жыл бұрын

You can and it helps keep the LLCs straight.

Renter didn't buy your trailors

Need a degree.

I named my LLC "Hunter Biden's Laptop Inc."

@ClintCoons

Жыл бұрын

Hah

Liars own estates

I was really looking these to this video BUT I didn't hear how TO name it, I just heard how NOT to name it...

@Rich_iam

3 жыл бұрын

4:38 seems pretty clear to me.

@dahliacambey4697

2 жыл бұрын

@@Rich_iam the truth is that Venturing into the trading world without the help of a professional trader and expecting profits is like Turing water into wine, you would need a miracle that why I trade with Mrs /Patrcia47 TELE~GRAM her skills are exceptional