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@oliverpattondavis2419 Жыл бұрын
I need to transfer a property into a LLC in another state please how do I go about it? Thanks.
@Abelieverintruth Жыл бұрын
Toby I love your videos! They are awesome! I have been a real estate investor- operator for over 35 years and I have not seen this type of intelligence on the topics anywhere on you tube. Thank you for your great videos. At some point in the future can you go over Alloidal Titles and Land Patents?
@TobyMathis Жыл бұрын
We appreciate that, thank you for being part of our audience!
@hannahcasey1999 Жыл бұрын
Thank you for this knowledge! Just got my first rental and was clueless about the structure. Great info!! 👏
@pfschuyler4 ай бұрын
I like the no-nonsense approach and personal experience.
@michaelpaul58017 ай бұрын
this is brilliant..such crucial info...you went over everything i need to consider, even your side notes are entertaining and pertinent. you have a brilliant way of teaching and conveying the info; great skills and knowledge--thank you
@theresamcgallicher Жыл бұрын
I bought a 2nd home financed under my own name, then rented it out on VRBO & Airbnb. At tax time I received NO benefits because (according to my tax preparer) the mortgage was not held by my LLC. 😢
@lcinflorida8728 Жыл бұрын
I find these talks fascinating... I wish I had your knowledge! Thank you!!
@TobyMathis Жыл бұрын
Thank you for watching our content!
@ReggieMichel Жыл бұрын
Uncle Toby... This was SUPER Valuable (as usual) and I needed this today. Will be setting up a consult. Thank you! 🙏🏾
@TobyMathis Жыл бұрын
Wonderful, let us know if you need help with anything!
@SunshineRisesAgain Жыл бұрын
Thank you for being thorough by going into the reasons why one must look at more than what is on the surface. Excellent presentation 😎👍
@TobyMathis Жыл бұрын
Our pleasure! Thank you for watching!
@richardgerwing5377 Жыл бұрын
@@TobyMathis Would it be possible to have a new home with rental space in the back yard or something similar to that?
@richardgerwing5377 Жыл бұрын
Yes selling my car and then the home we live in now do some remodeling and rent it
@organizer14 Жыл бұрын
Excellent overview of options! Thank you!
@bobmonson6432 Жыл бұрын
Excellent pace Toby, easier to understand your content. Thank you.
@TobyMathis Жыл бұрын
We are glad you think so!
@ShinyFeathers543213 ай бұрын
Binge watching your videos and learning so much ~ appreciate all of the info you share!
@TobyMathis3 ай бұрын
Thank you for your kind words! I'm glad you find the information helpful.
@naelab48656 ай бұрын
Love the way you explain things. Thank you
@brianjenkins2879 Жыл бұрын
Very interesting this guy knows his stuff
@uncletookie9102 Жыл бұрын
You're hilarious! Great showmanship. Everything is excellent especially the "It depends! 😁" great attorney joke.
@TobyMathis Жыл бұрын
Thanks! 😃
@cryptotiger7780 Жыл бұрын
So much to learn with all your videos. Thank you for doing these videos
@thefrankperspective4247 Жыл бұрын
hahaha, Toby went to the Graham Stephan school of YT intros and I love it.
@dcmiracles2785 Жыл бұрын
Very well thought out! Many thanks!
@jwoycke Жыл бұрын
Love your videos! House hacking tax question here. I’ve found a fair amount of info that discusses the house hacking situation related to passive rental income (schedule E). I’m having a really hard time finding info on house hacking and renting out the portion of the house, in my case a basement ADU, as a short-term non-passive active business (7 days or less with material participation). I do understand the awesome tax benefits of short-term rentals (from you), but what are the things to look out for in the house hacking non-passive active business situation (schedule C)? Anything to worry about in this specific situation versus the passive rental situation. Thank you.
@tax-modernАй бұрын
Even when you have a short-term rental with an average stay of 7 days or less with material participation, it still goes on Schedule E, not C. The difference is that the tax loss isn't limited by the passive activity rules on form 8582. Most professional tax software (and some consumer tax software) have an option to specify that rental income is non-passive, and that will cause the Schedule E tax loss for that activity to bypass form 8582. In terms of what to look out for, you can only use that special short-term exception for a house hack if the rental unit is a separate "dwelling unit", with it's own sleep/cooking facilities. It can't just be a room in your home.
@rchen404 Жыл бұрын
Aren't you required to provide info on your assets during discovery if you're sued?
@johnmaxwell1356 Жыл бұрын
I'm moving to Washington State. Any great tax professionals you might recommend up there? I know you might hesitate in making recommendations because of liability issues...but if no recommendation, what should I be looking for, questions asked, etc. when looking for a great tax accountant? Thanks in advance.
@gonzalolozano11963 ай бұрын
Thanks for sharing this information god bless you
@lautburns4829 Жыл бұрын
Wow, I’m listening.. I just made a verbal offer on my first income property. I’m willing to pay cash. The owner is a NFP church fellowship. They like my offer because the property has flaws, it’s a mess, needs repair. No realtor involved. I don’t know how to proceed. Should I have an attorney make a contract, and make a LLC for me? ( upstate New York) thanks again for all the great content.
@raymondmartin3254 Жыл бұрын
How to convert a garage into a casita I don't want to use for long-term rentals. What I do a Land Trust on my main house both of them into an LLC separately
@KyageraKizito-o5e11 күн бұрын
Thanx
@richardgerwing5377 Жыл бұрын
Buying a new house and looking for rental property as well
@vamingxiong43766 ай бұрын
Very good information thank you for putting out videos!
@TobyMathis6 ай бұрын
I'm glad you found the information helpful!
@DAT8096 ай бұрын
build or buy existing property at this time? Fourplex etc
@capncrunch2573 Жыл бұрын
Awesome video, Toby! I live and own a house in Cali, but I'm thinking of building a cottage on lake property I own in Canada, which I plan to rent out during the winter months. I'm a dual citizen, so does the LLC approach still apply to asset protection if the rental is outside of the US?... or would I need to set that up in Canada?
@TobyMathis Жыл бұрын
Thank you so much for your question! We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby
@corinatello Жыл бұрын
Thank you. I have 3 clients buying each 3 units with FHA, so they'll be house hacking, str, and market rental. Ha. should they create 3 different LLCs all under the land trust. Thank you for this information, your channel is very educative!
@corinatello Жыл бұрын
we are in IL, too. Horrible Lanlord State... :)
@TobyMathis Жыл бұрын
Hi Corina, we recommend speaking with one of our advisors for any legal advice. Here is the link to schedule a free strategy session, bit.ly/3JbMhRP. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
@patrickmelson4745 Жыл бұрын
Toby, it sounds like i could do a land trust for a wrap around purchase situation?
@elsonmartinez4025 Жыл бұрын
I really enjoyed this
@TobyMathis Жыл бұрын
Thank you!
@pris10251111 Жыл бұрын
Your videos are so informative, thank you!
@TobyMathis Жыл бұрын
Glad you think so! Thank you for watching!
@Ball_drips Жыл бұрын
13:01 in this scenario are u leaving the original note the seller had on the property in place when u take over the trustee/beneficiary positions?
@shellycrosse40904 ай бұрын
Does this work for overseas rental properties?
@valerieleuba Жыл бұрын
Can I use a VA benefit to purchase 2nd property and put it in a land trust?
@h.f.9238 Жыл бұрын
Wow! I work with attorneys. This guy is sharp.
@johnhardy2702 Жыл бұрын
Thank you, Tony
@wompol71175 ай бұрын
buying huge piece of land. cash sale. it can be subdivided into to multiple uses (one area with a few dozen small homes for daily use and midterm rentals, a venue in one corner, several businesses along one side with road exposure. remaining thousands of acres left pristine as sanctuary. how to structure?
@TobyMathis5 ай бұрын
Thanks for sharing your ambitious project! It sounds like you have a multifaceted vision for your land. Let's discuss how to structure your investment to maximize its potential while ensuring it aligns with your goals. I'd be happy to offer you a free strategy session to delve deeper into the details and explore the best approach for your unique situation. Sign up here: aba.link/pl3
@Igrowyourbiz Жыл бұрын
Is there benefit to doing SD trusts that are anonymous for the land trust?
@assetmax Жыл бұрын
Thank you
@gonzalolozano11963 ай бұрын
Did you know someone the know how do this structure on az ?
@TobyMathis3 ай бұрын
Our team can assist you in AZ as well. Sign up for a free consultation here: aba.link/pl3
@starr8111 Жыл бұрын
20:00
@abbibrennen2549 Жыл бұрын
Dear Toby I am a fan, in fact, when you just now said, I know that is a lot, (for you all to digest, in a short video.) Whoa,, I was just thinking I am going to play this over a couple more times so I can thoroughly devour it, mentally and I probably am not going to do the Airbnb, anyway. Because I decided to go live in my Beach rental. and other property is long term. I will be sharing your name with who ever I can get to listen. But my experience is that even tho my family can see that building a portfolio of rental property is indeed building wealth long term. None of my family seems to be interested in long term wealth building. Your probably thinking, she must have a really dumb family! Guess so? Although only some of them, in my opinion.
@Lt_Jordan932 ай бұрын
If I have a WY LLC with 2 members (married couple), the IRS considers it as partnership. Is there any difference for tax purposes than a disregard LCC. Will the couple still be able to move the taxes to personal taxes. Do I have to do anything to make it a disregard LLC. IRS website says there is an exception when the members are spouses. Thanks for your time.
@TobyMathis2 ай бұрын
Great question, to assist you further, I highly recommend you request a free 45-minute consultation to discuss this with my team so we can provide you with an answer that is unique to your situation. Visit: aba.link/pl3
@fgoldbuster Жыл бұрын
What do you think about cd or gold and silver as collateral
@avecinar9359 Жыл бұрын
Own rental 2 fam how to transfer to trust so I get medical
@cryptotiger7780 Жыл бұрын
Great video. Thanks
@wah-kengwu4483 Жыл бұрын
How about I live in a condo and plan to move out and use condo as rental and still have loan on it
@fredkerzic2568 Жыл бұрын
Sorry I’m late to the party… Is there an avenue for tax benefits with NNN investments?
@hlim34875 ай бұрын
Toby, say you have opted not to set up an LLC for your first rental. I’m going to be renting my primary residence and move out while retaining my mortgage with my bank. Can I still realize the tax benefits?
@TobyMathis4 ай бұрын
You can if the property is held in a land trust/grantor residence trust. This will preserve your mortgage and the benefits. You will need to continue to claim the property as your primary residence to claim tax breaks associated with residence.
@fluffie6568 Жыл бұрын
Hi Toby, I currently have a home that I live in since 2017 and I’m thinking about having an ADU in it and I’m going to live in the ADU and rent out the main house. Can I change this to LLC even though I live in the ADU? Thanks!
@TobyMathis Жыл бұрын
Hello, we recommend speaking with one of our advisors for any legal advice. Here is the link to schedule a free strategy session, bit.ly/3JbMhRP. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
@starr8111 Жыл бұрын
17:52
@bastienclarke1810 Жыл бұрын
Great!
@TobyMathis Жыл бұрын
Thank you!
@jackryan9587 Жыл бұрын
why put the first rental into a land trust and then assign no it to an LLC, as opposed to buying it with an LLC and then assigning it to your trust? does it matter either way?
@TobyMathis Жыл бұрын
Hey Jack! Make sure you join us on Saturday, February 25th -- Learn about real estate asset protection at our FREE Livestream Tax & Asset Protection Workshop where we'll answer ALL your questions. Get in: aba.link/taptoby
@WellsMedia-ct9sf Жыл бұрын
This was a great million dollar nugget. How can we setup a consultation T. Mathis? I need a land trust / private LLC in Florida.
@TobyMathis Жыл бұрын
Here is the link to schedule a free strategy session, aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
@starr8111 Жыл бұрын
14:35
@harutanaka3647 Жыл бұрын
Is it possible to do 50% 121 Exclusion and 50% 1031 Exchange on single property to reduce risk from market drop?
@TobyMathis Жыл бұрын
Thank you so much for your question! We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby
@VasiliosKountis Жыл бұрын
Gold.
@Igrowyourbiz Жыл бұрын
how about house hacking witha a multifamily?
@gregoryunderwood4121 Жыл бұрын
Great video, thank you! So much to take in, I watched it 3 times. I'll probably watch it another 3 times
@PeterPyo Жыл бұрын
man. this dude knows his stuff. (spoken as a noob to all this who knows nothing haha)
@TobyMathis Жыл бұрын
We hope our content proved to be an educational experience for you. We highly recommend watching more of our videos to learn even more.
@Allan2go Жыл бұрын
Great stuff, received the Cat pic too
@benvanbronkhorst6531 Жыл бұрын
Thanks for the info 🙂
@TobyMathis Жыл бұрын
No problem! Thank you for watching!
@starr8111 Жыл бұрын
9:50
@yigalgidasi5617 Жыл бұрын
I own a fully paid CO OP as my residence, I also have a rental CO OP apartment in the same building in NY state and a Condo townhouse in Florida. , all fully paid. Should I transfer my properties to a separate LLCs?
@TobyMathis Жыл бұрын
Yes, you should strongly consider doing so to protect yourself individually and each of the different assets from potential liability from each other! They will need to be separated and put into a proper structure though based on the state of the LLC. I recommend reaching out to one of our team members for a free initial consultation to discuss your specific needs in detail.
@23bushman23 Жыл бұрын
If I’m setting up a land trust for an Airbnb property, can the trustee and beneficiary be the same ie a Wyoming Llc ?
@TobyMathis Жыл бұрын
Thank you so much for your question! We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby
@shawmeck93239 ай бұрын
So llc for me then, got it 😂
@jcorreia275 Жыл бұрын
You can't be the grantor, beneficiary, and trustee of your trust. You can only be two of the three. What's the difference in this situation?
@khanKhan-od3zn6 ай бұрын
Where is my profity for example I have profity you give me
@rchen404 Жыл бұрын
Some other lawyers have said, depending on state, that single member LLCs regularly have their veils pierced and that making it a partnership protects against that. Do you agree?
@ToddTinley Жыл бұрын
Just get insurance and skip all the LLC nonsense
@richricogranada9647 Жыл бұрын
I need to protect my only asset-my house. What is best asset protection?
@TobyMathis Жыл бұрын
Thank you so much for your question! We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby
@karikasumi8883 ай бұрын
I SAW on KZfaq! 😖 Haha my lawyer 😒
@jessicalelievre8493 Жыл бұрын
Hi, What does LLC stated for?
@alvincash3230 Жыл бұрын
Limited Liability Company
@albertcoral5986 Жыл бұрын
Great video. I like the Wyoming LLC to hide real estate. After 30 years of ownership for the benefit of depreciation it might be necessary to dump the LLC for a 1031 exchange and create a new one. How much does it cost to set up an LLC in Wyoming?
@TobyMathis Жыл бұрын
Hi Albert, thank you for leaving your comment. You can request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. You can request it here! ----------> aba.link/tobyss
@jdeeezie Жыл бұрын
It often seems like owning a rental property outright means that you are the most at risk of losing big. So even if the rental property is inside of an LLC, but that rental property has vested 100% at that point, well, you've got an LLC with a whole lot of assets in it that are open to risk if a settlement goes above the insurance ceiling. So would it be a good idea to do a cash out refi, pay yourself personally, and then go back to the process of paying the mortgage off over the next however many years. That way there's no more than 20 to 50% of the equity vested at any given time?
@ocean12333 ай бұрын
😂😂😂 Thanks Tobey😹 I have serious questions ❓ re: my property
@TobyMathis3 ай бұрын
Have you set up a free consultation? aba.link/pl3
@projectamerica36383 ай бұрын
I want to hire you
@TobyMathis3 ай бұрын
My team can help. Sign up for a meeting here: aba.link/pl3
@financiallife3696 Жыл бұрын
I have heard from an attorney that it’s dangerous to have an umbrella policy because when an attorney searches you they see a huge jackpot to go after and know there is probably more. Ex: if your 16 year old son gets in car accident and it’s their fault and attorney sees you have $1M umbrella policy plus auto insurance. I am assuming you disagree because you talk about getting one. Is there any truth to it though?
@NoOne-fe8qt Жыл бұрын
The $1M in umbrella is not just sitting there. They will have to fight the insurance company lawyers to get the money. And the insurance lawyers know their business. For a landlord, an umbrella is a Must!! RLI insurance covers both personal property and rental properties in an LLC under a single policy.
@sadiegirl5312 Жыл бұрын
Love ❤ your cat
@trioray9090 Жыл бұрын
How much to have a private session with you?
@TobyMathis Жыл бұрын
Here is the link to schedule a free strategy session, aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
@donnalorranciewalton4031 Жыл бұрын
I received a quick claim I have the same name as the person who gave me the quit claim a few months later a letter came to me (I thought it was for me) and it was from an LLC broker in it she was adding her son on the paper apparently she's using it for Social Security business. I don't understand any of this what does this mean I'm afraid her son will come and kick me off the property she quit claimed to me should I be worried January will make a year and I can put it in my name legally should I be worried I feel like something is wrong
@TobyMathis Жыл бұрын
Hi Donna, thank you for leaving your comment. You can request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. You can set it up here --------> aba.link/tobyss
@TobyMathis Жыл бұрын
If you are a platinum client with Anderson, I would recommend calling one of our attorneys on the helpline to go through this thoroughly and suss out all the details. That being said, anytime someone else is on title for property (or a member of the LLC that owns it) they have rights to that property, so unless this was planned you are right to be a little concerned and should reach out to the broker or a local attorney.
@timfritch6735 Жыл бұрын
Toby I'm a landlord in Michigan what is the best way to contact you to get me set up properly ?
@TobyMathis Жыл бұрын
Hi Tim, thank you for leaving your comment. You can request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. You can get set up here -------> aba.link/tobyss
@BossChronicles Жыл бұрын
I have good credit how can i get funding no tax returns no proof of income
@jrod7929 Жыл бұрын
DSCR loans would be your only option. It's the loan that just looks at rental income vs your payments. If there a positive, usually 1.3x, then they'll give you a loan. It's going to be a higher rate. But no income verification etc is a no go for most lending. Credit doesn't mean much if have no way to pay, in the banks eyes.
@oliverpattondavis2419 Жыл бұрын
Please how do I get in contact with you?
@TobyMathis Жыл бұрын
Hi Oliver, thank you for leaving your comment. You can request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. You can request it here! -----------> aba.link/tobyss
@theliefilter6412 Жыл бұрын
I want to be a rockstar.
@tompetzold8696 ай бұрын
This guy plays four dimensional, chess in his sleep!!😅😅
@1999longhorn Жыл бұрын
If my Airbnbs are professionally managed, can they then be considered passive income even though I’m considered a Real Estate Professional for my other LTRs since I do not have a W2 job?
@rileyteulon6010 Жыл бұрын
I fuckin love this guy
@alunjones4494 Жыл бұрын
I'm
@kenmacphee7400 Жыл бұрын
Keep the utilities in your name, if the tenants stop paying rent the power shuts off
@Fast_Eddie_ Жыл бұрын
If that's legal, it's genius lol
@kenmacphee7400 Жыл бұрын
@@Fast_Eddie_ it happened to one of my employees in Florida. From what I understood there was nothing he could do about it but who knows?
@sissys6284 Жыл бұрын
Doesn't work in Miami, FL. You cannot shut utilities off to non-paying renters. That leaves you hanging for the rent AND the mammoth utilities bills.
@fmrp66 Жыл бұрын
We have revert to owner accounts setup with electric and gas utilities so if a tenant moves out or stops paying the utility moves back into the owners name. Then lease has a $100 fine for any tenant not moving utilities into their names or if it gets turned off and utility moves it to our name.
@iriemabayo5939 Жыл бұрын
In Ohio even though you are renting the house the utilities is link to the tenant and if the tenant would not pay the owner pays through your tax
@manoharmenghani6149 Жыл бұрын
So what is your contact #?
@TobyMathis Жыл бұрын
You can find our contact details on our website, andersonadvisors.com/
@opaul75005 ай бұрын
At this rate, if something goes awry, you're up shit-creek!
@ako849 Жыл бұрын
I’m I have a home mortgage $ 63,000,00 interest and principal $285 a fortnight $565 a month.
@joeydewitt46396 ай бұрын
Meow
@lisapurplehayes Жыл бұрын
Did you just copy Graham Stephan and his showing a cute picture of an animal thing?
@opaul75005 ай бұрын
*Is there something simpler please?* *_Like an idiot-proof,_*_ Real Estate for Dummies type, ABC, step by step, guide that doesn't require you to be a legal/accounting, IRS-conversant, mental acrobat Ninja? ...when the greatest level of complexity you have attained is how to determine where you left your keys!_
@brodyllc Жыл бұрын
that my friend, is a cute cat
@socalcraigster Жыл бұрын
Nice work as always Toby. I'm a California Estate Planning Attorney. Question - I want a job with Anderson Advisors. How should I proceed?
@TobyMathis Жыл бұрын
Here's a link to our career page andersonadvisors.com/ander-advisor-careers/