Using Land Trusts for Real Estate (Taking a New Look)

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Clint Coons Esq. | Real Estate Asset Protection

Күн бұрын

In this video, I want to take a new look at using land trusts for investing in real estate. 👉 If you would like a FREE 45-minute consultation, you can request one here 👉👉 aba.link/026f30
One thing that has really struck me are land trusts and how they might be utilized from a different standpoint.
If you take title to property that's an investment property, you got an investment loan on a conventional loan on it, you can move it into an LLC and they won't accelerate. So the idea of using a land trust to get around the acceleration clause, might not be so much of a problem.
Watch my video about Due on Sale Clause 👇
• Due on Sale Clause and...
Listen to my past podcast with Andrew Duane here 👇
• How Underwriters Evalu...
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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.
#LandTrust #RealEstateInvesting

Пікірлер: 164

@ClintCoons 6 ай бұрын

Claim Your FREE 45-minute Investment Strategy Session to receive business planning tips and asset protection. 👉 aba.link/026f30

@JewelzFin 2 жыл бұрын

Man I love your videos. Thank you so much for taking your own time and knowledge to help us who learn better through videos. We truly appreciate it.

@LAKitchen 3 жыл бұрын

I like that you update info as better options become available!

@ClintCoons 3 жыл бұрын

Always!

@jonheughan 3 жыл бұрын

Favorite video yet! thanks for the great info

@ClintCoons 3 жыл бұрын

Glad you enjoyed it!

@sjconley52 2 жыл бұрын

Great information! Thank you for sharing your knowledge and expertise!

@ClintCoons 2 жыл бұрын

So nice of you

@user-pl2np6ni2l 9 ай бұрын

Im going to simplify this for everyone. Hold each property in its own trust and have one llc as the beneficiary of all the trusts. If one trust is attacked legally you transfer all other trusts associated with that llc and assign them to a backup llc that you already have created and on standby as the beneficiary before a judgment makes its way up to the beneficiary LLC associated with the remaining properties held by a trust.

@duracell87 7 ай бұрын

Thanks for the video

@iankingston196 2 жыл бұрын

Wow; Land Trust to Living Trust Refi!

@zacha157 3 жыл бұрын

Clint, does amending or restating a trust necessitate any change in the deed on the public record or is that only when you change or substitute trustees? Thanks, helpful video.

@ClintCoons 3 жыл бұрын

No it does not. Also you only update the trustee change when you need to sell or refi the property.

@alliesteamc3546 2 жыл бұрын

Mr. Coons, we find your real estate videos very helpful and educational. You mentioned to have a Wyoming LLC to serve as a trustee, in the organizing agreement of the LLC is there a clause or term that should be included in the organizing agreement of the LLC? Many thanks!

@ClintCoons 2 жыл бұрын

Not really other than the business purpose clause.

@AlonzoLivin 3 жыл бұрын

😲👍 ok ok, So at this point I’ve: - Purchased property in my name - Created a Land Trust / LLC with Anderson. Now…..In order to refinance and take advantage of these amazing interest rates, I will: - Reinstate Land Trust to Living Trust - Refinance under the Living Trust name - Reinstate Living Trust BACK to Land Trust. If this is correct….then… EASY PEASY LEMON SQUEEZY 🍋🍋 If I misunderstood, please correct me. Thank you again for all the videos Clint!!!

@ClintCoons 3 жыл бұрын

Correct. Also verify with your lender they will let you refi in a grantor trust.

@AlonzoLivin 3 жыл бұрын

@@ClintCoons THEY SAID YEEEEES! 🚀

@sunilsharma707 2 жыл бұрын

I just bought a SFH all Cash on my name. Planning to move into my land trust. Not finding a lender who can refi this. Can you pls share your lender details?

@just-simplymarvelous 2 жыл бұрын

You are illumined.

@tinariley5389 2 жыл бұрын

Great video. I really appreciate your evolving strategic thoughts in this space. How does a Land Trust differ from a Personal Property Trust? Could you also use this strategy with a PPT?

@ClintCoons 2 жыл бұрын

Yes you can. They both work the same way.

@bryanwoods6268 Жыл бұрын

@@ClintCoons Aren't they both revocable grantor trusts? I imagine that is the reason that they are both the same. My question is, when do you make the distinction or "define" the trust as a Land Trust, Personal Property Trust, or and Estate Trust... and so on. What are the ramifications and regulations once you define the trust and who is regulating this? Maybe a topic for another VIDEO? :)

@86boanerges 2 жыл бұрын

Thanks for these amazing videos. I have been watching you for the last couple of weeks and I wished I watched some of your videos before creating my LLC. I’m a little confused at this point as there is always this area where asset protection, tax benefit and “bankability” all overlay and fight one another. I live in San Diego, CA and started investing using BRRRR strategy. You talked about anonymity about WY LLC but also mentioned that could play against one if there is a need to use rental income as another source of income for borrowing needs. Is this right? If it is the case, then I guess there is no need in having that WY parent LLC, right? Would you recommend a CA parent LLC in that case then even tough I have plan on investing in TX and FL in a near future. You also talked about having a pocket deed in place where transfer happened to an LLC but no record. Between this strategy and the land trust/ LLC, which one would you recommend? Lastly is it possible to create a parent LLC after having created one LLC for a property? I will also like to setup a consultation with your team.

@ClintCoons 2 жыл бұрын

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

@evas428 3 жыл бұрын

This is great. I am about to do my first BRRRR residential property. Would this land trust method be best, rather than the original strategy I learned through Anderson with only using LLCs?? Would it make sense to call in to my advisor prior to proceeding with the property purchase?

@ClintCoons 3 жыл бұрын

Thanks for being an Anderson Platinum Member. Yes contact Seth or you can contact my assistant Deborah (dlewis@andersonadvisors.com) and set up call with me to discuss.

@crystalshorter353 3 жыл бұрын

Clint, I'm a wholesaler in California and in the past my favorite exit strategy was to make my offer in the name of a Land trust and then assign the beneficial interests in the trust to my cash buyer. Now my escrow agent is telling me no land trusts. Title companies aren't closing on land trusts anymore. Can I make my offers in the name of a living trust to accomplish the same goal? Can I take title in a living trust if needed since title holding trusts are no longer being accepted in California? Would I still have the benefits of privacy and anonymity? If no, what's the best exit strategy for wholesaling in California now?

@ClintCoons 3 жыл бұрын

Hmm. The living trust will not work because you can not assign the interest but your buyer could change the trust to a living trust for closing. I am wondering have you run into any problems yet other than what your agent told you? Does your trust state that it is a land trust? Email me at ccoons@alglaw.com - I would like to know more about your experiences in California and wholesaling.

@crystalshorter353 3 жыл бұрын

Will do, thanks Clint.

@sylchambers6526 2 жыл бұрын

Your videos are excellent, Clint. I have an appointment this week with one of your Certified Professional Advisors because of your videos, but I have a question that I think is more for you. Do you think, because the land trust is revocable, a creditor could argue that you have so much control over the land trust that the trust assets should be considered yours and not that of your LLC? Thanks

@ClintCoons 2 жыл бұрын

Not likely because the same argument could be made about the LLC correct. You control it so it should be ignored.

@alejandrorojerogonzalez193 Жыл бұрын

question if rental property is in a living trust will creditors be able to tap into the living trust ? or is better on land trust

@lenell86 2 жыл бұрын

at the 6:48 mark, you stated unless in FL or IL.. so when a property is in a land trust in Fl for example and I do a refi using Fannie/Freddie guidelines, will they accept it in a land trust? Or did you mean something else with this statement about these 2 states?

@ClintCoons 2 жыл бұрын

It is my understanding that F/F will only accept land trusts in FL or IL and even then it can be a bit of a hassle to get your broker to write the loan.

@abezilla103010 2 жыл бұрын

Thank you Clint for all your educational videos. Even though it is 2022 now, I have to tell you. That above strategy did not work for us. My wife and I have rental props in TX that we recently refi'd. We tried your strategy in refi'g under the Trust name. At purchase, the mortgages are a personal mortg in our names. Each prop was warranty deeded into a separate REPT six months after purchase. A few years later, during the refi, the title company would not go forward with the refi until the property was removed from the Trust AND deeded back into our names to close the refi. ??? After closing I moved both properties into the Trusts. Did we somehow miss a step or do something wrong in purchasing the houses? So yeah, our privacy veil has been pierced so to speak...

@ClintCoons 2 жыл бұрын

No unfortunately it is the lender who undoubtedly is underwriting via Freddie/Fannie guidelines. FF prevents financing in a land trust thus, you need to find a lender who offers portfolio loans. Another option is to convert your land trust into a living trust for purposes of the refi.

@DavidAlvarez-uc9gv 3 жыл бұрын

Out of curiosity, where does one find this information for research and other references? I believe that he 100% knows what he’s talking about but I would love to know how one even goes about researching or find the references for this. Thanks!!

@cashrules520 3 жыл бұрын

Likely from Law School, Real estate attorneys, and exclusive data... he's an acting attorney...

@club80d44 2 жыл бұрын

Books in the library..?

@josephking5818 2 жыл бұрын

You can refer to state/local/federal laws

@danielmontalvo5034 2 жыл бұрын

Popular Question about tax savings: Using the method going from * land/property you own in your name to --> land trust, with LLC(NV) businessdeductibleproperty with this method, the same way one would if the property/land was paid outright with an LLC?

@ClintCoons 2 жыл бұрын

If you are asking wether you can still take depreciation through a land trust and LLC the answer is yes.

@alliesteamc3546 2 жыл бұрын

Can the land trust also apply to limited partnership interest in a mixed use real estate property?

@ClintCoons 2 жыл бұрын

Yes this type of property can be held by a land trust.

@mohitgupta2105 Жыл бұрын

@ClintCoons Is there a problem with an out-state-property to be put inside a trust? I'm seeing many law firms say that it is entirely valid. If so, why wouldn't we just always create a FL trust to own property in ANY state since it also offers asset protection? Are there caveats to that approach that I'm not seeing? Same question about the trustee being an out-of-state LLC (I see you suggest using WY LLC as trustee). Thank you very much for the awesome informational videos!!

@ClintCoons Жыл бұрын

Not at all. I like using FL land trusts to hold FL property and the beneficiary is a DE series LLC with a WY LLC as the trustee. If you are outside of FL the protections offered under FL law will not carry over to a different state unless you are a resident of Florida and then its not guaranteed.

@minihoneybee Жыл бұрын

When you transfer title from person to LLC, you will lose title insurance unless you add LLC to title insurance which cost a lot. It is not the case with transferring to trust:title insurance is still valid.

@ClintCoons Жыл бұрын

You only lose title insurance if you use a quitclaim deed. You personally will be covered under the policy originally purchased. For example, if the title is later clouded your LLC will make a claim against you under the warranty deed you provided and you can make a claim against your policy. Many title companies offer an endorsement

@mohitgupta2105 10 ай бұрын

@ClintCoons If the trust is revocable, doesn't it mean that creditors can force the asset out of the trust if the grantor was personally sued? And therefore, completely bypassing the entire structure even if it had charging order protections at top? Or does the beneficiary being an LLC play a factor here?

@ClintCoons 10 ай бұрын

Yes and that is why you want to use the LLC as the trust beneficiary.

@rubenfernandez6555 Жыл бұрын

This is video is art work. Thank you. I don't understand why not just have the LLC only and not the Wyoming LLC at the bottom owning all the LLCs? Or why not have a Wyoming LLC below each land contract only and not a holding llc?

@ClintCoons Жыл бұрын

The WY LLC provides anonymity and land trusts by themselves do not offer asset protection. Thus, one beneficiary LLC owning 6 land trusts would put all of your land trusts at risk.

@aeongaming2561 3 жыл бұрын

If you are doing all of this in a land trust then why would you need the second LLC that is not the Wyomming LLC? Seems redundant.

@ClintCoons 3 жыл бұрын

Great question. Remember, a land trust does not offer asset protection (except in FL). Therefore, if you only used one LLC as the beneficiary of your various trusts and a lawsuit developed with a property, then every property and land trust held by the single LLC would be at risk. This is why you need separate LLCs for each land trust, to keep the liability contained within that one silo. Thanks for watching.

@GottogoDiamond 3 жыл бұрын

@@ClintCoons Would you be able to change the beneficiary of the other trust when you find out you are being sued on the one property? So you get sued on Property 1 and then immediately change the beneficiary of Property 2 from the one LLC to yourself or a different new LLC.

@jhjh691 3 жыл бұрын

This is great information. I have a question. I live in GA and in my 60th. I want to create land trusts (GA) and put into WY LLC. However I have a living trust to distrute my assets in case i pass away. Where is this living trust in place? Can I assign beneficiary of this WY LLC as my revocable living trust? Thanks.

@ClintCoons 3 жыл бұрын

Correct. The living trust will hold your WY LLC. It will be the member.

@jhjh691 3 жыл бұрын

@@ClintCoons So living trust is going to be the member of WY LLC?

@ClintCoons 3 жыл бұрын

@@jhjh691 Yes

@socalcraigster Жыл бұрын

Question - If you name the Land Trust -123 Main St Trust, Clint Coons as Trustee Dated 01/01/22 how would they know it is a land trust? If a land trust is a grantor trust,it is also a living trust? Does a land trust even require the same formalities as a living trust? Does it only hold title, so there is no trust?

@ClintCoons Жыл бұрын

Hah you have hit on the benefit of the trust - no one besides you will know that it is a land trust.

@davidwang4002 2 жыл бұрын

Since living trust cannot have LLC as beneficiary, if I restate land trust as living trust, I would need to change beneficiary to myself. Would this create the same scenario as moving the house out of LLC under my name?

@ClintCoons 2 жыл бұрын

Yes you would need to change the beneficiary back to yourself. Typically we set up our land trusts with the owner as the beneficiary and assign the interest to the LLC. When you convert the trust to a living trust you will need to be the beneficiary otherwise, the lender will most likely not underwrite the loan.

@rayqmo3280 2 жыл бұрын

I am a California mortgage broker for many years. Interesting topic to watch as it is related to our daily business dealing with many professional real estate investors. Question for you: so when someone reinstate the Land Trust to a Living Trust, should he/she assign/nominate a successor trustee as individuals (i.e. Husband and Wife) to replace the LLC as the initial trustee on the Land Trust? And this (assuming SUBSTITUTION OF TRUSTEE) has to be recorded prior to refinance, so the lender only see the individuals as the trustee on the tile preliminary report? Thank you.

@ClintCoons 2 жыл бұрын

You shouldn't have to.

@robertdema 9 ай бұрын

In New Jersey, I do not think there is a a difference between a Land Trust or a Living Trust. One and the same.

@aeongaming2561 3 жыл бұрын

Why not just acquire the property and do the renovations in your own name, refinance w/ conventional, and THEN move it into an anonymous LLC structure?

@ClintCoons 3 жыл бұрын

You could but many investors prefer not to have their name on title and desire protection if something goes wrong during the rehab.

@blueskies10001 2 жыл бұрын

Clint, thank you for creating extremely helpful videos. Question: I'd like to rent out my primary residence, which isn't fully paid off yet, in a month and I'd like to put that under a Texas LLC. Given the timing, can I create the Texas LLC first and generate the Land Trust and the Wyoming LLC later this year and still buy me the same protection and anonymity if I did the steps in this order?

@ClintCoons 2 жыл бұрын

Check out this video: kzfaq.info/get/bejne/g712raR2nN3ZY58.html

@blueskies10001 2 жыл бұрын

Thank you for your response.

@hornbaker Жыл бұрын

If you turn a personal residence into a rental, you lose the “2 out of 5 years” capital gains exemption, which could be significant. The IRS only allows you to exempt a pro-rated amount based on the number of years the property was personal residence *in the last 5 years*. You need to realize the gains (by selling to a 3rd party and repurchasing via the trust) so you can claim the tax exemption before changing the property’s use to a rental (or as soon as you can afterwards). This will lead to a new mortgage, but if the property has appreciated a lot since you bought it, exercising the $250k/$500k capital gains exemption may far exceed the costs involved.

@terrycrawford6740 3 жыл бұрын

If a Land Trust can be restated, do we still need to bother doing an Assignment of Beneficiary when moving from the initial beneficiary of Husband & Wife to the LLC to own the Trust?

@ClintCoons 3 жыл бұрын

Yes to protect yourself and your land trust interest.

@bryanwoods6268 Жыл бұрын

-----What's up Clint?!!----- I'm an Anderson member, love your content! @ roughly 1:30 min in on the video, you mentioned that Freddie and Fannie allow you to move the property into an LLC without the banks considering this a transfer and thus possibly inducing a Due On Sale situation... This goes against almost everything that I've heard from folks that have had the DOS called when buying an investment property with a F/F conforming mortgage. Can you explain what you mean? I'm wondering if you mean that as long as the loan is performing and there is not an underwriting audit performed of a portfolio (like in smaller banks) then 99% of the time, the DOS will not be and issue? That scenario is different than banks "allowing" you to transfer into an LLC from a loan that was written in your own name thus, (as you explain later in this video) you have to deed the property back into your own name for the refinance and then deed back into your LLC... Thank you for all you do and for putting out such great content!!! -Bryan

@ClintCoons Жыл бұрын

Watch this video :kzfaq.info/get/bejne/pp6prc2cuLfTcaM.html Also look in the show notes. I have links to FF underwriting guidelines backing up everything I am telling you.

@bryanwoods6268 Жыл бұрын

@@ClintCoons You're the man Clint! Thank you! 😃💥

@terrycrawford6740 2 жыл бұрын

If a Living Trust does not provide for the assignment of beneficial interest, won't it be a problem when trying to restate the Living Trust back to the Land Trust?

@ClintCoons 2 жыл бұрын

No your are restating the trust to a different type.

@Itsrichardash 2 жыл бұрын

If two neighboring properties are sold to an LLC as a trustee of a land trust on one deed, and the county takes that land for non payment of taxes, does the county take both parcels?

@ClintCoons 2 жыл бұрын

The county would take the land that is delinquent on its taxes.

@michaelbalian160 2 жыл бұрын

Hi Clint, For Anonymity sake who should be the trustee, beneficiary, and grantor of this structure?

@ClintCoons 2 жыл бұрын

A WY LLC could be your trustee. The trustee is the only party that is visible on the deed. The land trust is not recorded so the beneficiaries are private. I would however use a second LLC to be the beneficiary for asset protection.

@alliesteamc3546 Жыл бұрын

What is the difference between a statutory trust and living trust and land trust?

@ClintCoons Жыл бұрын

A statutory trust is registered with the state while the other two are private documents creating a trust relationship.

@sunilsharma707 2 жыл бұрын

I am closing a property all cash, in my name in Illinois next week. Would want to refi this. Should i put this in my land trust first by making it a living trust or should I refi on my name first then transfer to my land trust? I have a foreign LLC in Illinois with parent LLC in NV. I have a bank account for LLC. Will i need a different bank account for land trust to collect to collect the rent? Thank you in advance. Your videos are amazing.

@ClintCoons 2 жыл бұрын

Close in your own name then complete refi before moving into an entity.

@sunilsharma707 2 жыл бұрын

@@ClintCoons Thank you Clint! You are always immensely helpful thru your great videos!

@UltimateBargains 3 жыл бұрын

How does this compare to a Revocable Grantor Trust?

@ClintCoons 3 жыл бұрын

It is essentially the same but with different provisions.

@sred5856 2 жыл бұрын

By reinstating the land trust to a living trust, wont it now create a mess with a pre-existing living trust. Now we will have 2 living trusts. I know that this is not incorrect by itself. But for someone executing the trust, it can be a hassle especially if Trustee-1 is different from Trustee-2. Is this assumption valid?

@ClintCoons 2 жыл бұрын

Not at all. You can have as many trusts as you like. Each trust holds different assets under different names.

@donwbacik1009 3 жыл бұрын

If a NV APT is used instead of a land trust, would or could the NV APT be used "as is" for refinancing and possibly in Nevada only, because they know this trust? And maybe you could say the financing is limited and unwise so just go with a land trust and restate... Thanks for the idea.

@ClintCoons 3 жыл бұрын

Possibly. I have found with NAPT and Statutory Trusts it can be a bit more challenging working with banks.

@tre.j3589 Жыл бұрын

I’m just beginning to research this trusts - similarly - to what you’re discussing… I have a piece of property - 3 to be exact - that I’m trying to figure out how to use them as a means of sustaining me for the next 30 years. Property is 2 commercial 1 residential. In Oklahoma… I develop businesses and LLC, INC, and so forth. I’ve done it for over 20 years in the Film Industry. I mention this because I am capable of structuring businesses to my advantage- but I’ve NEVER dealt with trusts or real estate like this. Is there a way to connect? Email? Is it possible to borrow, say $1M, park it in an interest bearing account for 10 years, I draw the interests, lender gets the $1M back at end of 10, then instead of $ he gets land? Hasn’t costed him much of nothing… mostly time, perhaps some risk, but he keeps the trust? If that’s not enough then perhaps he can take over my corporation which has AAA credit with its EIN. Built credit for 40 years with it. Not me personally, I inherited the corporation. I’m 41 lol. I’m new at this so if that don’t make sense forgive me. I had thought about this last night, did a little research, here I am now watched your video, it’s similar to what I was thinking, so thought I’d ask. I’m just trying to figure a way to sustain myself, my family, a few friends for 30 years. This financial crises is going to be tough… I just want to homestead, live in peace & be happy is all. Suggestions?

@ClintCoons Жыл бұрын

I am sure there is someone for any type of deal but lenders are in the business of lending not owning so I do not think that will work. Why not sell the property on an installment note? You get the payments over 10 years at a higher interest rate than your savings account and your taxes are pro-rated. Maybe set up a CRT, sell the land tax free and invest in Municipals bonds to create tax free income. I am sure a financial advisor could help you find a solution.

@stockbusters1519 2 жыл бұрын

If I have a land trust of a rental property with a Wyoming LLC as the trustee (me as the single member manager), do all rental payments go to the Wyoming LLC name (ie. not my name), address in Wyoming, or Wyoming bank checking account (ex. ACH transfer payment to a Wyoming bank checking account)? Or do rental payments go to a local bank checking account near me (ie California) with the Wyoming LLC name on the account? I'm concerned a local bank account in California can be traced to me more easily because my state (California) does not have the anonymity laws like Wyoming and would disclose my name as the single member manager of the Wyoming LLC checking account. Is that about right?

@ClintCoons 2 жыл бұрын

Payments would be made to the trust.

@stockbusters1519 2 жыл бұрын

@@ClintCoons Thanks for the reply. So would you recommend a Wyoming bank account for the Wyoming LLC as trustee and not a local (California) bank account?

@ClintCoons 2 жыл бұрын

@@stockbusters1519 I dont think you will need a WY bank act for the LLC Trustee.

@terrycrawford6740 2 жыл бұрын

What would happen if the individual were sued by, say, the HOA after title has been transferred to a Land Trust? Is a Motion to Dismiss filed?

@ClintCoons 2 жыл бұрын

Possibly. Best to ask local counsel.

@syreetamcdonald8669 Жыл бұрын

Hi, Wanted to put an LLC I created in PA into a Land Trust since I did not use an attorney to form the LLC for privacy. However, some attorneys teach to stay away from Land Trust in Pennsylvania. They say the person creating the Land/Living Trust in PA is fully liable for claims against the trust. And using a business trust would result in fees and investigation from the IRS. What should investors do in PA?

@ClintCoons Жыл бұрын

If the land trust is going to own the LLC interest you do not have any liability concerns because the land trust will not hold any assets that create liability. You may want to consider using a WY LLC as the holding company rather than the land trust. The WY LLC will give you anonymity and better asset protection for you PA LLC. Nevertheless you can accomplish your goals with either structure.

@syreetamcdonald8669 Жыл бұрын

Yes. Thanks!! A Wyoming attorney created a Wyoming LLC as a holding company for me after I found your channel. The PA LLC was already in existence so making Wyoming the owner of the PA LLC would cause transfer taxes and more work. I guess it may be worth it. Wish I found your channel sooner. Thanks again.

@rubenfernandez6555 Жыл бұрын

New here: does this mean the houses won't be under your name so you can have multiple conventional loans without being effected by other houses? So the limit won't be 10 houses?

@ClintCoons Жыл бұрын

Still 10 per taxpayer unless it is a non recourse loan.

@tatsumakisempyukaku 2 жыл бұрын

@clintcoons. You have anything explaining what a “Ron gibson land patent”. I’ve heard about it, but nothing from trained lawyers explaining it

@ClintCoons 2 жыл бұрын

I have not.

@johnb9710 5 ай бұрын

Hello, My insurance company wants to see the copy of the land trust should i give them?

@ClintCoons 5 ай бұрын

Where is the property located? Did you tell the insurer the property is held in a land trust?

@johnb9710 5 ай бұрын

The property is in Los Angeles. Yes I told them is under land trust, but they still wants to see the trust agreement.@@ClintCoons

@raymondwang2438 3 жыл бұрын

Clint, if I use a land trust to hold my primary residence, as the trust is A private document and it’s not recorded, how other people know that it is under my name? If they don’t know then Anonymityis already created?

@ClintCoons 3 жыл бұрын

If you do not record the deed then the property will continue to appear under your name. The recording is what is required for anonymity.

@raymondwang2438 3 жыл бұрын

@@ClintCoons the new deed will be recorded under the trust name but the trust itself will be a private document, so anonymity is already created by recording title under the trust, correct? making the trustee a anonymous LLC is just another additional layer of anonymity ? especially when there is no loan or lender involved?

@ClintCoons 3 жыл бұрын

@@raymondwang2438 You must list a trustee when recording under the trust. This is why you need anonymity with the trustee of your land trust.

@johnczaplinski5242 3 жыл бұрын

Here's an idea,.. start every video with BRAND NEW set of with board markers. I'm pretty sure you can afford it.

@ClintCoons 3 жыл бұрын

:). Good point. I ordered some today.

@cesarmelo4559 2 жыл бұрын

We own some land (paid off) that we have in a living trust, I want to take a loan against the land, to build rentals on the same land, is it possible and if so what type of bank works best

@ClintCoons 2 жыл бұрын

Yes but I would work with a community bank to put the deal together.

@cesarmelo4559 2 жыл бұрын

@@ClintCoons thank you so much for your response, is that with having to take the land out of the trust or can it be done keeping the land in the trust

@ClintCoons 2 жыл бұрын

@@cesarmelo4559 Yes that is correct

@thestampqueen 2 жыл бұрын

So- wouldn’t it make sense to always put your rental properties into a Land Trust first and have the LLC be the owner of the trust so that not only financing is easier, but also the property won’t have to go through probate if you die?

@ClintCoons 2 жыл бұрын

Yes that works but the LLC should be owned by your living trust so the LLC interest will avoid probate.

@ban_tik_tok 2 жыл бұрын

*Clint Coons* is still creating KZfaq videos to this day. Wow. He really wants to be a Billionaire. #nosacrasm This video is actually pretty informative in my opinion. Thanks Clint.

@ClintCoons 2 жыл бұрын

Thanks for watching

@robertduffy5805 3 жыл бұрын

Purchases - If this works for refi's then you should be able to do it in a purchase transaction from the start and avoid your name being on the transaction from the beginning by closing the purchase in a Living Trust, then restating to a Land Trust depending on how you structure the trust I would assume. Then dump it in your LLC. Then if you ever need to refi, follow your steps. NMLS# 24863

@terrycrawford6740 3 жыл бұрын

Can an Irrevocable Trust be restated into a Revocable Trust?

@ClintCoons 3 жыл бұрын

Not typically.

@terrycrawford6740 3 жыл бұрын

Can property be removed from an Irrevocable Trust and placed into a Revocable Trust?

@terrycrawford6740 2 жыл бұрын

When the original Trustee resigns and the successor Trustee takes over, how does the County know where to send property tax bills?

@ClintCoons 2 жыл бұрын

Because you provided an address when you changed title to the property. Just because you use a nominee trustee does not mean you must use their address.

@terrycrawford6740 2 жыл бұрын

I see. Thanks. I thought the address was for the Trustee. What you said is that the address is for the Trust.

@destinyinvest364 Жыл бұрын

What to do when u don’t have a trustee and you are the beneficiary ? And manger of your Business LLC ?

@ClintCoons Жыл бұрын

Set up a separate WY LLC to be your trustee.

@salvatorelivreri 3 жыл бұрын

Can it not be initially placed into a living trust without having it restated from a land trust?

@ClintCoons 3 жыл бұрын

Yes but the living trust does not provide asset protection or the ability to assign the interest to an LLC.

@aeongaming2561 3 жыл бұрын

Real Estate Asset Protection can you purchase the property in a living trust using a conventional loan and then swap it to a land trust for the renovations and then back to a living trust for the refi then back to the land trust?

@ClintCoons 3 жыл бұрын

@@aeongaming2561 Absolutely but try not to get vertigo with all the quick swaps.

@techtipsandtalk 3 жыл бұрын

@@ClintCoons Is that because living trusts can't have LLC's as a beneficiary? Is that statutory?

@ClintCoons 3 жыл бұрын

@@techtipsandtalk No it has to do with how the trust is set up. A living trust does not provide for the beneficial assignment of interest.

@terrycrawford6740 3 жыл бұрын

What prevents someone from having two Trusts with the same exact name. One Trust would have Husband&Wife as Beneficiaries (in case the recorder's office questions the Trust) and another Trust with the LLC as the Beneficiary? Why bother restating the Trust?

@ClintCoons 3 жыл бұрын

Nothing but what about the trustee? You would presumably use the same trustee? If you were involved in a lawsuit this could become an issue.

@michaelpouchert4486 2 жыл бұрын

I have a deal in the works right now. I'm searching for tax saving opportunities for the seller And attaching a lease option agreement agreement to the deal. I have some questions, can we talk?

@ClintCoons 2 жыл бұрын

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

@shakeemmorefield9127 Жыл бұрын

i would love to have you as a mentor is that even possible ?

@ClintCoons Жыл бұрын

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

@stockbusters1519 2 жыл бұрын

If you have land trust income properties they are pass through entities with financial activity filed on your personal tax returns. Won't a lawsuit merely need to obtain a copy of your personal tax return to see all the property assets you have? Having a land trust does not seem to change the fact your land trust property asset is shown on your personal tax return. What am I missing with this conclusion.

@ClintCoons 2 жыл бұрын

That type of information is not discoverable until after you have lost and a judgement is entered against you. That is the purpose of using the strategy - to keep your information private to discourage the deep pocket defendant mindset.

@stockbusters1519 2 жыл бұрын

@@ClintCoons Thank you for explaining that. So once they obtain tax return, all assets are discoverable.

@ClintCoons 2 жыл бұрын

@@stockbusters1519 Yes the tax returns will disclose a lot of information.

@brad265 3 жыл бұрын

What if you are in Florida?

@ClintCoons 3 жыл бұрын

No, our office are located in WA, NV, UT, and WY.

@brad265 3 жыл бұрын

@@ClintCoons I was commenting on the part of the video where he said unless you're in Florida... so what happens if I'm in Florida?

@terrycrawford6740 2 жыл бұрын

7:33 Won't it look funny that the name of your Living Trust is "123 Main Street Trust" and that the Trustee is a WY LLC (nominee trustee)? Or does it even matter?

@ClintCoons 2 жыл бұрын

Funny to who?

@robertdema 9 ай бұрын

There really is not a difference in a Land Trust or a Living Trust?

@ClintCoons 9 ай бұрын

A land trust's beneficial interest is transferrable and living trust's is not.