Real Estate Multi Member LLC - Essential Provisions

Clint Coons Esq. | Real Estate Asset Protection

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How on earth do you set up a multi member LLC with the essential provisions? Well in this video we are discussing best practices to protect your assets in a multi member llc.
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ABOUT CLINT COONS
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.
#multimemberllc #llc #realestate

Опубликовано:

26 июл 2024

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Комментарии : 51

@Stizzyfnshorts 2 года назад

Hey Clint! Thank you for these solid strategies. My partner and I have a meeting in two weeks and I've been brainstorming the" foundational issues" to discuss at the meeting. The "Developer" agreement (as well as the others mentioned) was golden. That never even crossed my mind. I just wanted to thank you for your time and knowledge you share here.

@ClintCoons 2 года назад

Fantastic!

@alliesteam9776 2 года назад

Very good points! Many thanks!

@alliesteamc3546 2 года назад

Very helpful points to be aware of, many thanks!

@ClintCoons 2 года назад

Glad it was helpful!

@organizer14 Год назад

Very valuable, excellent contribution, many thanks!

@ClintCoons Год назад

You're very welcome!

@isisa.1348 Год назад

Soo informative and broken down into easy to digest subtopics! 👏🏻

@ClintCoons Год назад

Glad it was helpful!

@Lavonwoods 2 года назад

Man this is good stuff!!!

@sandeepsinghsingh 2 года назад

Amazing ideas

@ClintCoons 2 года назад

Glad you like them!

@budramkissoon7938 2 года назад

Thanks Client

@ClintCoons 2 года назад

Bud Ramkissoon Thanks for watching.

@hershchaudhari6375 2 года назад

Hey Clint. Rather than using their own names, would you suggest that each partner have their own personal WY Holding companies be the members in the property partnership LLC?

@ClintCoons 2 года назад

You can but if you are obtaining financing I would wait to bring in the WY LLCs.

@transactiondesk840 2 года назад

Since few banks offer dual signature review, are there any other ways to protect and manage the funds so that one member does not have access to the funds on deposit without the other member's signature?

@ClintCoons 2 года назад

Probably but you would need to check with your bank. Also if you are concerned about your other partner stealing - best not to go into business with him.

@falla51 2 года назад

Question: So after an operating agreement has been structured do you print out a copy for all members then everyone signs all copies? Essentially multiple "originals".

@ClintCoons 2 года назад

You can or better yet use Docusign.

@proctorranchdrive8283 Год назад

Hey Clint, by introducing the springy member after purchase of the property, would it be considered a sale for tax purposes?

@ClintCoons Год назад

No it does not. I have used it for my own deals. It would be a sale if the person is buying your interest but you are not with this springing member option.

@phstutoring6667 10 месяцев назад

Hi thank you this is a helpful video. 2 questions 1. Can a real estate multi member LLC with 4 members, designate 3 of the 4 members as passive members without any specific responsibilities? These members will provide initial capital, agree to a profit/equity split, but will not be responsible for any operations. 2. If I designate investors as managers. will I have to pay the "managers" a salary and be responsible for payroll tax? Thank you.

@ClintCoons 10 месяцев назад

1. Yes 2. No you do not have to pay managers. Both of your concerns would be covered in your operating agreement.

@buzybill Год назад

Can I trade stocks and options in the Wyoming multiple member holding LLC with my wife and I as limited partners with majority ownership with C corp general partner as minority interest. And holds real estate in disregard LLC in each states?

@ClintCoons Год назад

Yes you can but depending on the size of the account you may want to consider setting up a separate LLC for your brokerage account.

@alliesteam9776 2 года назад

What type of entity should be the general partner of a real estate limited partnership.

@ClintCoons 2 года назад

LLC or Corporation

@douglasstricklin4437 Год назад

I am considering setting up a multi-member LLC with 4 members total. Can 3 of them be springy members to avoid getting drug through the financing wringer? Lastly I have heard a lot of investors say you should purchase the property in a personal name because the rates are so much better than a commercial loan and then put the property in the multi member LLC or better yet just keep it in the personal name but run all the financials transactions through the LLC. Are those real options? If so which would you say is the best option?

@ClintCoons 11 месяцев назад

Both are real options. If you use the LLC I assume the property is commercial and not residential? I prefer to purchase in an LLC to avoid any unforeseen complications e.g., lender objections to transfer or possible transfer fees.

@DerekBarnhart-md4jq Год назад

How would two single member LLC’s come together to go in on a property together? Or would a better way be to start a completely new multi member with the two individuals?

@ClintCoons Год назад

The LLCs would be tenants in common

@xbellabutterflyx 9 месяцев назад

Hi Clint, my significant other and I registered as a two member LLC, manager managed. When applying for the ein number it asked how I want to be taxed. I am just now starting for a rental home business and not sure what option would be best when it comes to taxation. Or should I got back and amend my LLC to a single member?

@ClintCoons 9 месяцев назад

I think it would best if you speak with someone so as not to mess anything up.

@shadowgodgames7253 2 года назад

What is your price to set up a multi member llc for me?

@ClintCoons 2 года назад

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

@archerline 2 года назад

Cant you not get financing with more than 2 member llcs?

@ClintCoons 2 года назад

Yes you can.

@upperechelongames2638 2 года назад

What's up Clint if I set up a LLC and don't put a property in it would I still have to pay taxes?

@ClintCoons 2 года назад

@upperechelongames2638 2 года назад

@@ClintCoons thanks for the response. I have another question. when I set the LLC up and get a EIN to get a business credit card would I still be free from paying taxes?

@ClintCoons 2 года назад

@@upperechelongames2638 Not at all

@upperechelongames2638 2 года назад

@@ClintCoons so for clarification I want have to pay taxes for LLC even with the EIN ?

@ClintCoons 2 года назад

@@upperechelongames2638 You will pay taxes on the LLC income and the LLC may have to file an informational return and or pay taxes depending on the state.

@PaulOPeezy 2 года назад

What about a multi-member LLC that is the only member on lower level LLCs that owns property?

@ClintCoons 2 года назад

That sounds about right. The SMLLC holds the property and it is owned by the MMLLC

@xbellabutterflyx 9 месяцев назад

⁠@@ClintCoonshow would the second LLC be taxed then? Or no ein is required?

@ClintCoons 9 месяцев назад

@@xbellabutterflyx The MMLLC could be set up as a partnership, s-corp, or c-corp so an EIN would be required. If you set it up as a disregarded entity you still need an EIN to open a bank account