Protect Your Rental Properties With An LLC

Рет қаралды 75,650

Toby Mathis Esq | Tax Planning & Asset Protection

Күн бұрын

Do you really need an LLC per rental property? In this video Toby Mathis, Esq. will show you the best strategies to protect your rental properties with an LLC.
Some may feel that having a separate LLC per rental property may seem excessive, but there are benefits to choosing this path.
Seasoned real estate professional Toby Mathis, Esq., is here to answer those questions and more in this thirty (30) minute video.
Claim Your FREE 45-minute Investment Strategy Session to receive business planning tips and asset protection. 👉 aba.link/a2e290
Prepare to walk through an explanation that details the reason why multiple LLCs are necessary in order to protect your assets.
"You might be ok doing the good, you may say eh" 14:42
However, there is a big difference between the good and the best available to you.
LLCs offer many advantages to property owners, so it is our hope that this video is able to help those who watch it get the info they need to make smart decisions.
Thank you for taking the time to watch our content! Please feel free to check out our other videos and join us again for new releases.
Did you enjoy this addition to the channel? If so, be sure to leave us a like, share it with your friends, and subscribe to the channel for more great content.
If you have any questions, please reach out to us in the comments section below. We also love to consider your topic suggestions.
It is always a pleasure to provide the facts to our audience, and hopefully, you will join us again when we upload another informative clip.
Till next time, good luck with your endeavors and opportunities.
Show Notes:
0:00 Intro
0:28 Don’t Do
8:03 Good strategy
11:40 Better strategy
15:11 Best strategy
32:00 Outro
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
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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.
#llc #rentalproperty #assetprotection

Пікірлер: 123

@tonypegues333 Жыл бұрын

Pure gold!

@miketooma 2 жыл бұрын

This guy is awesome! Thanks for the great info Toby!

@thomasforbestv5388 2 жыл бұрын

Toby, excellent education my friend.

@bertlj6367 2 жыл бұрын

Awesome video

@organizer14 Жыл бұрын

Thank you very much! We appreciate your valuable and useful expertise!

@gb8518 2 жыл бұрын

On one word Excellent . Now I need to learn different btw Trust or Holding when is a single owner. WY is cheaper but must be report taxes in WY & where assests are. Doble but WY lock information according what you mention.

@adamsgroupsllc2659 7 ай бұрын

Thank you sir

@eldonbirth5429 2 жыл бұрын

Awesome video thanks

@TobyMathis 2 жыл бұрын

Glad you enjoyed it, thanks for watching!

@catelinejean7723 Жыл бұрын

Nice good job guys

@Sayso2423 5 ай бұрын

This is powerful information! Thank you!

@TobyMathis 5 ай бұрын

Glad it was helpful!

@makiavelli6101 15 күн бұрын

Excellent to know and keep in mind for planning.

@TobyMathis 11 күн бұрын

Glad it was helpful!

@user-en5is4lr9v 6 ай бұрын

Top notch info!

@TobyMathis 6 ай бұрын

I'm glad you found the information valuable.

@glammav14344 2 жыл бұрын

Thanks for the vlog! Question about when it comes to a lawsuit, don’t one have to disclose all forms of asset you have? If assets are on LLC, not in my name, etc. do we have to disclose it ? Thanks!

@lseh4720 Жыл бұрын

Where do you get the umbrella policies that cover you and the corporation? We have USAA. How do we know if our policy covers us and the LLC? (BTW, I didn’t think you read this comments, but you (or maybe your staff) responded to the comment about the red chalk, so I’m hoping you’ll see this). Thank you Toby. I’m not sure why you’re so generous to share your knowledge, but it helps me think and push friends and family into doing the right thing to protect themselves. Happy Summer.

@alweiss822 8 ай бұрын

Thank you

@TobyMathis 8 ай бұрын

Thank you for watching!

@bryanthomas5275 2 жыл бұрын

Thank you for your extremely informative video.I am a realtor in the state of Hawaii and cannot form an LLC iin the state according to the local laws. I have a rental attached to my home. How can I protect myself in addition to insurance ? Thank you BT

@joshuaderstine4133 6 ай бұрын

Of all the videos I watched this was the most down-to-earth and reasonable. You explain things from a matter of fact perspective so I can understand. I really appreciate your video.

@TobyMathis 5 ай бұрын

Thank you for your feedback!

@camilaferraz3755 2 ай бұрын

Amazing explanation 👏👏👏👏👏

@deltaXna Жыл бұрын

Know that you gave us the way.. can you show us the HOW of getting a holding co. In WY?

@obyonwuakpa8206 27 күн бұрын

Very informative.... Thanks a lot! Do you have a video that explains series LLC?

@TobyMathis 25 күн бұрын

Check out this video: kzfaq.info/get/bejne/h6mgktSdx56rZZs.htmlsi=c--k7xeWmGTc4PH3

@prophetseven728 Жыл бұрын

Can you put your holding in WY if you are A Resident in Caly. And the Properties are too? And if so. How do you go about doing that? How much?

@bluecollarbullionballer4269 2 жыл бұрын

If you are not a trader just a investor can you protect your personal accounts from law suit exposure?

@aftech7268 Жыл бұрын

So if i have a rental property in Hawaii , New Mexico, North Carolina , Vegas and Missouri Which of these states has unanimity?

@leealangrothe5552 Жыл бұрын

Please do a session on a Massachusetts Business Trust. Common Law Trust Land Trust Business Trust owning an LLC

@TobyMathis Жыл бұрын

We will take those topics into consideration, thank you for the great suggestions.

@jonathanthink5830 28 күн бұрын

How and when do anyone start doing estate planning? What types of estate planning to use to suit estate value? What is the cost to setup and maintain? How do I know if the estate lawyers are any good? I use a lawyer for my living trust, but the lawyer use my name on the trust.....

@TobyMathis 28 күн 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/a2e290

@jamest7853 2 жыл бұрын

Thanks for this amazing info! Quick clarifying questions: If I own an investment property in California, are you saying that I should put it directly into a WY LLC or should I have it in a CA LLC that is owned and parented by the WY LLC? Would I ultimately have it owned by a living trust, or would that counteract the anonymity. Thanks in advance!

@miketooma 2 жыл бұрын

Good question, I hope he answers.

@janlord-maes2169 Жыл бұрын

Did you ever get a reply and if so can the other readers or subscribers read it?

@BryceandCallieMeyet Жыл бұрын

Hi Toby. Can this strategy keep your name off of the HOA records? Will the HOA have records of your name because of your mortgage company or can you have 1234 LLC be the name that the HOA has on Record?

@BW-kv9wj 2 жыл бұрын

Can a Wyoming LLC hold 4 DST Office Buildings in California? Will that avoid the $800 fee?

@PNJohnsonIV Жыл бұрын

Fantastic video. Great content. Probably my first big question once I decided to research Short Term Rentals as an investment. 1 related but kind of not related question: I got divorced last year and bought a home with my piece of equity from the marital home. Luckily found a great house and with it came a great renter that was in the in-law suite. Pays $1k p/mo. I have another roommate in the main house with me that pays $750 p/mo. Leaving my share of the mortgage at $750. I've wondered if it would be beneficial to put this home in an LLC for write offs and pay myself rent. Any benefits to this? I want to do what is needed with my primary home before investing in rentals. Thank you!

@keithmarlowe5569 Жыл бұрын

I'm reading how to use limited liability companies and limited partnerships by Garret Sutton. I finished one book already on tax benefits of home based business. Typically it doesn't make sense to put your home in an llc and pay yourself because of fantom income. That is, the rent you pay isn't deductible, but the rent earned by llc is taxable. But you have other income from the home. You need pro advice on this one. Maybe just keep quiet about the rent money and do nothing?

@TobyMathis Жыл бұрын

Want answers to your questions about this video? Schedule a complimentary consultation with our experts today! aba.link/a2e290

@susanc1760 Жыл бұрын

Fantastic information Toby!!! Perfect for us since my 82-year old mother owns $3.5 million in rental properties in Communist California. Wyoming Strategy sounds great. We are Subscribers of your channel when I discovered you earlier in 2022. Thank you Mr Mathis for educating us with actual solutions not like other attorneys who are just outlining general ideas and saying "Call Me."

@DavidKSweet Ай бұрын

"Communist California?! What a crock. That state's Prop 13 property tax increase limitation makes it one of the best states to retire in. Rental properties in other states have no such protection so your fixed income retirement lifestyle gets drained by a 40% property tax increase IN ONE YEAR like mine did in 2023 in red state shitholes Alabama and Louisiana.. Looking to get rid of those properties and buy in California.

@dcmiracles17 Жыл бұрын

Which insurance companies cover legal fees?

@siyadesai6594 2 жыл бұрын

I have a mortgage on the rental properties. My mortgage company won't give me a loan under LLC. I believe I can only have it in LLC if paid cash.

@aftech7268 Жыл бұрын

Im Confused ? U have a mortgage on your rental properties and u cant get another mortgage ?

@lisaevans5843 5 ай бұрын

I have a mortgage under my LLC.

@mastersparkyful 2 жыл бұрын

What is the cost to put 6 properties in Colorado into a wy land trust.

@prophetseven728 Жыл бұрын

If it not in your Name. How do you make Loans or pull Equity?

@16303ALONDRA 2 жыл бұрын

Great information I’m in the state of Florida and I’m trying to find out if you have any offices in Florida and if I can use the Wyoming LLC when I already have the Florida LLC to protect my rental property I get nine duplexes If you can let me know thank you

@TobyMathis 2 жыл бұрын

Please reference our website andersonadvisors.com/ We do operate in Florida virtually and offer free first time strategy sessions!

@onthemoney8356 Жыл бұрын

Most States require you to file a "foreign out of state entity " in the actual state your conducting business if you've registered your llc in a different State Does the Foreign out of state rule also apply to real estate or just actual businesses? And does the filing of the foreign entity expose the ownership of the out of state llc? Thanks in advance Toby if you happen to read this and answer it!

@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

@TomSpurlock 2 жыл бұрын

I didn't see mention of rental properties in an family trust. If a trust owns the properties, are they also exposed to lose in a lawsuit as well?

@TobyMathis 2 жыл бұрын

Yes, generally rental properties in a family trust do not carry the protections of an LLC. You can, however, structure your properties so that they are titled to LLCs, but they are still able to be distributed by a family trust upon your passing and avoid probate. Please get in touch with Anderson Business Advisors about getting a consult 877-853-4221

@ralphmachiothekaratekid3813 2 жыл бұрын

@@TobyMathis Awesome advice!! Thank you for all of this!

@eastwestpicayune8200 Жыл бұрын

How you do this? I'm in the same predicament

@robertfamb2122 6 ай бұрын

@@TobyMathis😅😅😊😊😅😅😅😅😮😊😅😅😮😅😅😮 7:41

@robertfamb2122 6 ай бұрын

😅😅😮 7:56 😮😊😊😅😮😮😅

@rizkisetia6538 Жыл бұрын

I just bought property in Massachusetts and put it under LLC in Massachusetts, Could I transfer Massachusetts LLC to LLC in Wyoming?

@JacksonStieb Жыл бұрын

if you have a wy llc and live in ca is it true you have to have a ca llc for that llc in wy because you live in ca or is that only if you make income in wy?

@drewm.6070 Жыл бұрын

How do you keep your name off bank accounts etc....

@CianTv1 Жыл бұрын

Wait, you’re saying that u have to have a physical office in Wyoming for ur WY LLC to get the protections of WY?

@raphaelcollado9491 Жыл бұрын

This very informative but my question is what is the best strategy when your lender on the rental properties does not allow for you to place their asset in a corporation and if you do they can call the Loan on you etc. thanks

@TobyMathis Жыл бұрын

I recommend speaking with one of our advisors for any legal advice. 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.

@Solismig002 2 жыл бұрын

What if you own houses in Chicago and rent each floor

@teriaviles2628 11 ай бұрын

Enjoy your lectures! I am in the process of buying a rental property for the benefit of my brother and daughter. Can you recommend a good attorney?

@TobyMathis 11 ай бұрын

We recommend speaking with one of our advisors for any legal advice. 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.

@theduchua Жыл бұрын

By your service long it takes to set up a Wyoming LLC ? What is roughly a total cost (including your services and registration fees?)

@TobyMathis Жыл бұрын

Hi, we recommend speaking with one of our advisors for any legal advice and service prices. 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.

@billstephens5472 Жыл бұрын

It will be a challenge as well as rare to be domiciled in two states at the same time!

@abbibrennen2549 Жыл бұрын

Not now, but soon, Dear Mr. Mathis, I have a neighbor of one of my two rentals who is trying to start a fight, like saying bad things about someones mom. He has already threatened me with I was trespassing, I threatened him. All b.s. because I did nothing of the sort. His wife actually called the cops two times when my dog was missing and then he said, "Don't call the police?' I have already told them 3 times that their retaining wall was slipping. There have been 3 slips so far, first a 4 x 4 wood beam then 31 concrete blocks fell on my flag lot driveway. Now today I went by there and there is another part where the blocks are beginning to burst out like a balloon, but they are concrete. My tenant had to stack all the blocks that fell earlier to get out of the driveway and go to work. It is a problem. I do not feel safe speaking to the other neighbor homeowner, as he thinks I am supposed to pay for his wall?

@efrenestrada2230 Жыл бұрын

Toby i’m going to call you the ninja, camouflaging peoples assets, very stealthy, hahaha

@Jewtopia79 2 жыл бұрын

What happens when you're just a single/sole owner of multiple rental properties? Should I still do LLC's? What happens when you're located in a different state from where your properties are? Does each property get its own LLC, which in turn is owned by another LLC in the state of the owner?

@jameskeefe1761 2 жыл бұрын

If you create a WY LLC, you probably can register the WY LLC as a foreign LLC in the state where the properties are and the WY LLC probably can own them. Costs $100 more or less. I dont know if it would be better to have an LLC in the property state parented by WY LLC. For each LLC, you do an annual report to the state which is $50-$100 depending on state, but they are easy, just lists the people who control it. Maybe Toby can answer. Im a non-lawyer, this is not legal advice.

@TobyMathis 2 жыл бұрын

Yes, if the trust owns the properties directly (rather than the LLC) the trust and its assets will be exposed to a lawsuit against the property

@Jewtopia79 2 жыл бұрын

@@TobyMathis But what happens when you're just a single/sole owner of multiple rental properties, does the LLC still provide any protection?

@billly3478 Жыл бұрын

I currently have 2 properties in California and currently live there... Can a wst really help avoid the franchise tax or do I still have to pay franchise tax for the wyoming holding Company and the trustee Llc for the land trust

@TobyMathis Жыл бұрын

@prahlee Жыл бұрын

Question, if I covert all of my rental properties to llc and 6-10 years down the road I want to give the properties to my kids will it be difficult to covert back to sole proprietorship? Thank you

@keithmarlowe5569 Жыл бұрын

Get the book " How to use limited liability companies and limited partnerships" by Garret Sutton. He talks about wealth preservation and passing it on.

@user-up3lf2rs9k Жыл бұрын

I have a question: I am a Canadian Citizen, I purchased couple of properties in Florida USA with USA partner, my partner is USA Citizen. We purchased all of the properties under our names by "tenants in common". We are thinking to transfer all of the properties under incorporation like LLC OR LP. Please let us know best way to establish corporation so we both are directors and 50% shareholders. Also let us know how we can transfer all of the properties to LLC without any cost.

@keithmarlowe5569 Жыл бұрын

Get the book " How to use limited liability companies and limited partnerships" by Garret Sutton. There is sample scenario just like yours. My understanding is you form llc's, then partnership comprised of the llc's.

@robertc4839 Жыл бұрын

What about owning each property as s corporation?

@TobyMathis Жыл бұрын

While you could do this, we do not recommend it as whenever you sell those properties they will be more heavily taxed than they need to be.

@ExpatInterview Жыл бұрын

You only mentioned IRAs and 401k under the Bank heading. What absolutely a regular savings account? Do these rules apply to creditors and during a bankruptcy? State of Florida.

@TobyMathis Жыл бұрын

@bencgarrett Жыл бұрын

Do you have any KZfaq videos on how to start building wealth by purchasing single family homes?

@TobyMathis Жыл бұрын

We have a number of videos that can help you start building your wealth but we will take your suggestion regarding a specific video on single family homes into consideration.

@PhilMorgan303 Жыл бұрын

??? Have you done a video on setting up host home for disabled /autistic adult. ??? After I die how to I keep him protected and living in our paid for home??? (In Colorado)

@TobyMathis Жыл бұрын

Hi Phil, have you had a chance to watch this recent video? kzfaq.info/get/bejne/mdmCi8xnna7UnKc.html

@michaelprinaris2250 Жыл бұрын

Can I get an LLC for my rental properties if they are on my name?

@egyrdesk Жыл бұрын

How to transfer the house title to LLC?

@TobyMathis Жыл бұрын

Generally, you would deed the property to your LLC and file it the deed with county recorder. However, for some states there are different ways you should deed the property to an LLC to avoid a reassessment on the property for state tax purposes. We have developed various methods to avoid reassessment on the property when deeding it to an LLC. Call 877-513-2658, and we can determine how to deed your property into the LLC and file the deed for you as well.

@Living-oh1nj Жыл бұрын

you quickly said to have an actual office instead of just using the registered agent address? can you expand on this?

@keithmarlowe5569 Жыл бұрын

To prevent "piercing the corporate veil" a requirement is to have an address and person that can be served papers during normal business hours. If you use yourself and home address, and your not home when served, you could be subject to judgement in your absence. You want a dedicated home office for tax deductions

@teapsan8850 Жыл бұрын

I'm going through a common law marriage divorce right now. Can I still invest in real estate and have these protections? Thank you 😊

@teapsan8850 Жыл бұрын

Also may have to pay child support

@keithmarlowe5569 Жыл бұрын

You can't transfer any marital property to a llc, owned before divorce began. Property purchased now? Best consult a lawyer.

@ligayaatencio2902 Жыл бұрын

Thanks for the amazing info. What happened when I own different rental properties in different states, like in New Jersey and Florida. I live in New York City, you’re saying that I should put it directly into WY LLC ? Or should I have it in NY LLC where I live. Thanks for your advance advice.

@socalcraigster 2 жыл бұрын

I'm a California practitioner and want to work with you or be trained. I have a couple of clients needing this. How can I reach you.

@TobyMathis 2 жыл бұрын

Please reference our website to learn more about Anderson as a whole 👍andersonadvisors.com/

@elisawaldman 2 жыл бұрын

I was told, by an NC attorney, that if it's same owner for all the properties and especially if it's just 1 or 2 owners, doing the same kind of business, (ie real estate rentals/property management), it's not allowed to have each property in a separate LLC. They used the verbiage: excessively fragmented. I'm still not 100% I understand what I can/should/could/can't do. Would like to hear your take on this (excessively fragmented) term.

@leonaking1865 Жыл бұрын

How do you qualify for your rental property home equity with good credit and low paying job. Renters cover rent now and would cover with refinance cash out?

@Garrrrrishere Жыл бұрын

I need advice

@TobyMathis Жыл бұрын

Hi Garine, we recommend speaking with one of our advisors for any legal advice. 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.

@johns4699 Жыл бұрын

Toby how can I get in touch with you.

@TobyMathis Жыл бұрын

Hi John, 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.

@Mariasoto-pd8ll Жыл бұрын

How can comunícate with you

@TobyMathis Жыл бұрын

@verakasper9913 2 жыл бұрын

I have just layers around me, nobody tells me the truth.

@JohnSmithh644 4 ай бұрын

Can you tell us how to do it lol

@TobyMathis 4 ай бұрын

You can definitely get started by signing up to our Tax & Asset Protection Workshop! aba.link/82e4f0

@all4fitz Жыл бұрын

You emphasized lawyers don't go after a safe when they don't know what's in it. But then you concluded that you, as a lawyer, are making all of this online content with no return on investment?

@iankingston196 Жыл бұрын

Statutory Trust in CA FTB Gane changer! us that just for Real Estate? We have to cobne! I need link to join your Infinity Investment group. You are a lion when it comes to Asset Protection. I love your videos for rental properties and stock brokerage protection .