Do this instead of putting your property in an LLC

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Most of us cannot purchase a property under an LLC nor shift our existing property into one. But LLCs, and other business entities, can provide good separation and benefits to us - especially when you're running an income producing business. Today's video tells you how I layer protections and an example why I'm currently in court and super glad I structured my business correctly.
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Опубликовано:

20 сен 2024

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Комментарии : 77

@urielpelaez8199 2 года назад

Seriously how tf do you not have like at least 1m subscribers?!! I have been full time trying to break into the real estate game for like 6 months now and have surfed all of RU-vid, and this hands down is probably the best channel I’ve found! 🔥🔥🔥

@KaiAndrew 2 года назад

Working on it. :)

@shawnl3151 2 года назад

Actually no lender can deny you from deeding it into an llc after you get a loan. As long as you are an owner of the llc and are doing it for “estate planning” reasons.

@PrivacyFight 2 года назад

You can use the LLC for equity stripping, managing cash flow for tax deferment and even convey the title with a mortgage into an LLC "for estate planning purposes" without invoking the due on sale clause of the mortgage. not sure I'd rely upon insurance just because this creates an incentive to be sued and only rewards the attorneys in guaranteeing attorney fees. The LLC cannot be owned by the individual investor as a single member LLC as there would still be no separation of liability, the LLC needs to have at least two members/owners who are not married, or have the membership held in the name of a private unregistered association or trust. If the LLC is only holding title to the property, it does not need any EIN or to file any tax returns.

@daniajerome3593 2 года назад

What state are you in?

@KaiAndrew 2 года назад

Land Hacker and 6-Figure Host Programs are launching soon (sorry for the delays - developing new website). Waitlist here: KaiAndrew.com

@crosisofborg5524 2 года назад

In Florida we have hotel/motel licenses. Operate under those and you can evict without notice.

@KaiAndrew 2 года назад

Smart!

@shawnl3151 2 года назад

Actually In Florida leases under 180 days are under hotel laws I.e. sheriff will remove immediately whereas 181 days you have to evict.

@mattk6910 Год назад

The downside: you’re in Florida.😂 judging by the number of vacant homes you won’t have anyone to evict!

@franciscozubillaga3241 Год назад

@@mattk6910Tampa Bay/Florida might be the only city whose property values still have not fallen during this economic downturn.

@emilyunplugged Год назад

So glad you are pointing out the difference between tax and liability strategy - I own a bookkeeping company and I have those conversations with clients all the time! Thanks for the info!

@TheAdVentureists 2 года назад

So much information in one video, probably need to watch it again, thanks! We'll certainly be talking to a professional but it's important to make sure that we have a general understanding too so that we know our options and this helps knowing how you're structured!

@KaiAndrew 2 года назад

Hey there! Yeah, I probably should have made it into two separate videos. :)

@axolotltheories 9 месяцев назад

However, if your house is under LLC you don't get principal residence exemption when you do sell

@poopdolla1573 2 года назад

Loving the new setup, camera angles and animations. Looking really clean! Of course the information is great too!

@KaiAndrew 2 года назад

Awesome, thank you!

@TheVeryfunnydude 2 года назад

always sound advice. i forgot what your background is, but it's obvious you are speaking from experience. good content!

@KaiAndrew 2 года назад

I appreciate that! I've done a lot of lots of things. But mostly worked with fast growing start-ups and real estate.

@born2ride14 2 года назад

Damn this was packed with info!

@KaiAndrew 2 года назад

Hope it was helpful!

@doctortmd 2 года назад

A thousand thank yous for this info!

@davidfsanabria 2 года назад

Golden nuggets here, Kai!

@trevorrisley5419 2 года назад

Cannot get enough of your great info, man. I’m very grateful for your content.

@KaiAndrew 2 года назад

I appreciate that!

@Hosemastenbrook 2 года назад

I got a lot of new information from this video. Thank you

@Towelie- 2 года назад

What about placing the property in a Trust, with you as the beneficiary, while having an LLC for property management?

@swatisquantum Год назад

This is the best

@crosisofborg5524 2 года назад

I operate in both Florida and Nova Scotia. There is no LLC in Canada so I had to create a corporation there while having a separate LLC in Florida.

@Cookies205 2 года назад

This is gold, thanks Kai!

@michaelgee683 Год назад

Thank you for the great info.

@LittleMountainLife 2 года назад

Very informative, thanks!

@KaiAndrew 2 года назад

Glad you enjoyed it!

@salim777star 2 года назад

Very informative 🌱 Thank you.

@djsneaks2 2 года назад

love it! thanks for the information!

@samrei6223 2 года назад

Very informative! Now that rates are going up for second home mortgages, I think we will try to use a dscr loan and purchase our second property through an llc. Still have to do research on that part, but I think that will provide better protection in addition to the points you made in this great video.

@KaiAndrew 2 года назад

Best of luck!

@JocelynChan-t6m Год назад

Hi Andrew! Thanks for the video. It's super helpful and informative! I wonder to create a property management LLC to manage our own properties, are we required to have a broker licence to do so? Looking forward to hearing from you!

@Jjohnson32k 2 года назад

Thank you!!

@emmanuelgutierrez8616 2 года назад

I've heard that if you're sole owner off llc, judge will just bypass the llc using common sense and say you are the owner, not the llc.

@baileypratt149 2 года назад

Using that logic there is no point of an LLC in the first place

@benjaminshenk5245 2 года назад

Really great info. I’ve looked into this elsewhere, but never found as comprehensive and unified response as this. Thanks Kai! Curious though: I use a 3rd party property manager for my rental - would they in turn carry most of the risk for me, in place of spinning up my own prop mgt LLC?

@KaiAndrew 2 года назад

Glad it was helpful!

@joelh766 Год назад

What about the umbrella policy? Can that be enough and avoid creating a management llc?

@imbradandyouarenot Год назад

I'm taking your advice and will refuse to leave one of your rentals.

@Ranjit12 2 года назад

This is great, thanks!

@KaiAndrew 2 года назад

You're welcome!

@pempao 2 года назад

This topic reminds me of Multi-State Operators in the Cannabis industry. 😑

@KaiAndrew 2 года назад

I'm not super familiar with that, so not sure if I can add much. Sorry!

@sambradley6548 2 года назад

Thx

@zrivs Год назад

where do i find an advisor or the information on setting up something like this?

@buensomeritano1755 Год назад

Sue the judge , tenant, and democratic and republican parties for unfair business practice under color of law and issue a facial constitutional challenge to those statutes and a criminal complaint for violations of 18 USC 242, 242, 1519, and 641.

@SuckaFreeCityOg 2 года назад

Um no. The entire point of using an llc in the first place is SPECIFICALLY so that your name isn't connected to it

@KaiAndrew 2 года назад

Not exactly, but go ham.

@SuckaFreeCityOg 2 года назад

@@KaiAndrew so you're tellin me that it's not about separating yourself from your business in case of any lawsuits? K.

@AJortiz1984 Год назад

I have a question, if we get an LLC in the state we are in now under a business project, then we want to invest in another state, do we have to get another LLC on that state? Or can we stay under the same one?

@LincolnLog Год назад

you equated being a landlord as "providing housing" 😂

@KaiAndrew Год назад

Because it’s true…if all landlords removed their rentals from the market what happens to housing?

@LincolnLog Год назад

@@KaiAndrew They would be for sale so people can live in them without paying for your gain???

@sandilezulu982 Год назад

Will the same LCC able to manage a property under mortgage?

@michaelz6870 Год назад

180 days?! Wtf!

@yarogrigoriev1609 Год назад

Or hire a hit man I mean a good cleaner

@phillyvoodoo 2 года назад

In the liberal city of Wilmington Delaware there is a five day letter notice of eviction that is followed up by a sheriff assisted eviction..... So your never seems to be a little unwarranted.....

@czarrevs3616 2 года назад

Great content once again! Do you use a virtual address for your LLC's? Thanks

@KaiAndrew 2 года назад

Thanks, Czar. No, in my states we have to have a physical address.

@VenturaIT 2 года назад

How do you define a liberal city?

@jaydenbrockington4525 Год назад

Read the local news and see what type of bills are being passed. A democrat run city.. nothing necessarily wrong, esp if they are in an evenly split region. But if the laws they are passing are problematic than leave

@mattk6910 Год назад

Good info! But I’m sensing a little projection looking back on this video. Did the liberal cities force you into mid-term? Don’t think so… In Chicago, my Airbnb and personal expenses were pretty stable. Sure, there wasn’t a bubble comparable to Boise, but look at Boise in ‘23. Not pretty for recent buyers

@michaelsanders9377 Год назад

Liberal cities give additional protections to residents, but those protections hurt landlords tremendously. That's what he was talking about. In non liberal cities you can evict non paying residents much easier.

@mattk6910 Год назад

@@michaelsanders9377 Yea definitely you’re right. It came off to me that he was advising not investing in property in liberal cities based off of his experience. But I think what he really means is definitely don’t get into mid-term rentals to cover your investment costs, especially not in a liberal city because you won’t be able to kick them out when they (inevitably) stop paying! Personally, I just waited things out and took some losses on rent for a few months. Chicago also had landlord repayment grants, so if you were a small landlord with a non paying tenant there were some programs trying to get you your rent. To each their own though.

@questpropertiesllc4952 Год назад

I AGREE WITH YOU ON LLC'S BUT I DONT LIKE HOW YOUR SLIPPING IN YOUR PERSONAL CONSERVATIVE SUGGESTIVE POINT OF VIEW . CREATING DIVISIVE CITY LABELS IS SIMPLY WRONG . PLEASE REFRAIN FROM YOUR PERSONAL POV THIS MATTER . THANK YOU

@KaiAndrew Год назад

Lol. No. The beauty of having my channel and it being a free a country and all…ps. Lose the all caps.