No video :(

Should You Transfer Rental Property into an LLC? (How & Why)

Подписаться 463 тыс.

Просмотров 19 тыс.

50% 1

Should you put Your rental property in an LLC or Your Personal Name? In this video, I'm going to share How (& Why) to Transfer Real Estate Rental Property into an LLC, step by step, in 2022.
Tax Services: bit.ly/3iC6FCI
Timestamps:
#1 - Why Transfer Real Estate into an LLC? (1:20)
#2 - Cons of Rental Property inside of LLCs (3:30)
#3 - How to Put a Property into an LLC [Step by Step] (6:10)
#4 - Tax Consequences (10:56)
In this video, I cover:
- Why Transfer Real Estate into an LLC
- The Tax Consequences / Outcomes (of making the move)
- How to Move a Property into an LLC, step-by-step
More Videos:
Passive Income Business Ideas: • 11 Passive Income Busi...
9 Business ideas that Never Fail: • 9 Business Ideas that ...
How I Became a Millionaire: • How to Become a Millio...
Don't Start a Business Until You Watch This: • Don't Start a Business...
Small Business Bank Accounts: • 5 Small Business Bank ...
Subscribe: bit.ly/2HJlq46
Personal RU-vid Channel: bit.ly/3eaTxSL
Please be sure to give this video a like and subscribe to our channel so you don't miss out on future videos!
///
Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

Опубликовано:

6 авг 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 35

@FinancialFreedomMadeSimple 2 года назад

Thanks for the information.

@seansantiagox Год назад

Thanks for the info man, might do this in the future.

@adamcoby3351 Год назад

Loved the video.

@chic90skid 2 года назад

yayy i was wondering and literally here the video & thankyou

@LYFEAccounting 2 года назад

Glad you found it, thanks for watching!

@sarahseifert3075 4 месяца назад

Great info! Thanks!

@jaegrant2875 7 месяцев назад

Very helpful and informative! Thank you.

@duranmullen2560 Год назад

Thank you

@sabrinabarjon5954 Месяц назад

Great video!

@joshreid363 Год назад

Love the video. But I do have some questions with properties you own out right no mortgage or anything. If you could I would love to get your advice about it

@BPMrock37 Год назад

Solid video thank you. Wondering about the initial question, does transferring a rental property to an equal part shared llc reduce my personal debt and open up future investment potential. Thanks man

@ignaciolopez4225 Год назад

Love the videos btw ! I plan on getting a house soon but i want to rent out the vacant rooms. Should i get my LLC now or wait till i have the property. And can i write off the furniture/wifi/etc that i plan on purchasing for the home .

@jayon661 Год назад

Just discovered your page today and feel like I struck gold!! I learned that my tax filing has been wrong the last couple years because I have owed taxes despite major write offs on my rentals and Airbnb home. Do you do consulting? I am seriously desperate and eager to learn. Please send info if you do

@parag.u Год назад

Thanks, great video. I have a question - would I attract any long term capital gains when transferring the rental property ( which was my primary residence earlier, that is now rented) to my new LLC?

@estarestar929 18 дней назад

Even if you have an LLC they still want you to be a personal grunter. It’s complicated. You get to know what is going on every details.

@lakeishar23 28 дней назад

What are the pros and cons to transferring a rental property into a new LLC

@teddyjak 2 года назад

Will check your other page

@l.300 2 года назад

Great video, So would it best to put your property and an S-Corp or C Corp? May you make a video on these? LLC seems very risky

@LYFEAccounting 2 года назад

Thanks! No, actually you should be very cautious about using a S Corp for rental property. Watch this: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-NWgOpWqt-Pk.html

@youngprince716 6 месяцев назад

Hey thank you for the video. I am wondering, in terms of asset protection what is stopping someone from a lawsuit against the llc that now owns the house? Especially if the llc is listed as the landlord on the lease

@whatsonmymind3366 4 месяца назад

There were more cons then pros???

@Izzy-uf5rd 3 месяца назад

Hi Sean, Which deed type would be best for that, the Quitclaim or Warranty deed?

@myjourney5030 2 года назад

Thank you so much for great video . I already an LLC for my rental properties . How can I add more properties to that LLC with series LLC for maximum protection?

@aftech7268 Год назад

Yes i have the same question - how can i add additional properties on my llc

@carlhensaime6228 2 года назад

Hey, Fantasic video. Quick question, usually I would file my investment property on Schedule E. Once I put that property in an LLC, do I still file it on Schedule E, or do I use Sch C? If I use Sch C, I would have to elect to be chose to be taxed as S Corp, therefore I would file 1120S Correct, Then a K-1 would be distributed to mu personal side. Any advice is greatly appreciated Let me know, Thanks!

@LYFEAccounting 2 года назад

Great question and thanks for watching! So, if you are a passive real estate investor (which most people are) then you would still use Schedule E. The Schedule C / S corp strategy would be best for active real estate investors like flippers and agents. Plus, there are many disadvantages of using an S Corp for rental property. I have a good video about that here: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-NWgOpWqt-Pk.html

@jameswhitman7936 Год назад

If my primary residence is also a rental and i dont need an llc how do i handle the money? Just claim it on my personal tax return?

@makemagamad3370 Год назад

If my loan is in my name and want to move it to an LLC. What do I do?

@edubbs779 3 месяца назад

even though you transfer the property into the LLC the loan is still under your name correct?

@krisfleming9548 Год назад

This is not completely accurate. Most banks do not allow individuals to transfer the loan to an LLC.

@safetydown Год назад

I agree with Kris. Almost all mortgages have "pay on sale clause." This means, that you owe the full amount of the mortgage, if you transfer to an LLC. @LYFE Accounting can you provide some clarification?

@mplscarsales6652 2 года назад

So if I have a property that’s my primary home . can I put a renter in there without a LLC until I have enough rentals producing enough cash flow to put in a LLC ? Then get the EIN# and setup a business account?

@LYFEAccounting 2 года назад

Absolutely! In fact, most landlords don't have LLCs. You can also apply for an EIN as a sole proprietor.

@aftech7268 2 года назад

So i have rental properties in New Mexico , Hawaii, North Carolina amd Missouri , I live in Missouri … how do I go about getting an LLC or scorp for these properties … combined

@LYFEAccounting 2 года назад

Sounds like you would need to register an LLC in each state and consider having a holding company. Also, be cautious about using a S Corp for rental property. Watch this: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-NWgOpWqt-Pk.html