Mastering Land Trusts: Unlock The Benefits For Real Estate Investors
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- čas přidán 5. 08. 2024
- In this video, we're going to take a look at what a land trust is and how it can benefit real estate investors.
Learn more about how to become anonymous AND appear as if you own nothing at our next Free Tax & Asset Protection Workshop. Save Your Seat: aba.link/mu7
"You want to be in control." 3:59
First, let's define a land trust. A land trust is a legal agreement between two parties - the beneficiary and the custodian. The custodian holds legal title to the property on behalf of the beneficiary, the actual owner. This arrangement allows the beneficiary to remain anonymous along with other exploits.
I'll explain a land trust and why it makes an attractive option for real estate investors. Then, I'll discuss setting up a land trust and its advantages over traditional investment strategies. Finally, I'll provide tips on how to maximize your returns when handling land trusts. By the end of this video, you should better understand land trusts better than before.
If you're an experienced real estate investor or just starting, you must learn about land trusts.
Now you should understand why land trusts are attractive for real estate investors and how to maximize your returns when investing in land trusts. Best of luck on your next adventure!
Thanks for watching! Please reach out to us in the comments section and remember to subscribe to the channel for future videos.
Show Notes:
0:00 Intro
0:09 Land Trust
4:30 Example
6:57 Nominee Trustee & Deed
8:43 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.
#landtrust #clintcoons
Awesome content.... thank you.
My pleasure!
Would this method be useful in states where wholesale flipping RE contracts are substantially limited if you’re not a RE agent or affiliated with an agency? Some states like Illinois allow unlicensed dealers/ investors only 1 or 2 of these types of transactions per year.
Do you provide tax filing and prep services for real estate investors and self employed individuals
What is the cost for 1 single family home ?
Hi Clint, really good stuff here! New subscriber and I’ll be sharing your content as well. I have a question for you regarding the California Land Trust. If I was looking into a “subject to existing mortgage” purchase in CA and using a Land Trust to become the beneficiary, what road blocks might I encounter along the way? Thanks a million Clint and keep up the good work!
Check out this video
@@ClintCoons I did watch the video. My question to be a little more specific is, if I use a Land Trust and make my LLC Beneficiary, does that qualify as a taxable event? Also, do you represent people in CA? Thank you!!
@@Lineside It is not a taxable event to transfer the beneficial interest to an LLC and yes we do work in CA.
Hi Clint,
Please let me know if one Wy LLC can be used for trustee & beneficiary in the land trust document Or it have to be two different LLC’s?
Its preferable to use 2 but you can use one if you set it up with you as the original beneficiary then assign your interest to the trustee LLC. Keep in mind if you have several land trusts then you should stick to one LLC as the trustee.
When you open a trust, is the trustee the only that comes up in the public records. Will the information of the beneficiary being accessible to the public?
No, the trust document itself is not recorded.
Can you put a fha mortgage 4plex in a land trust for anonymity without making fanny-freddy mad?
Absolutely.
Since the land trust is never recorded anywhere, if someone accidentally loses, destroys or is not able to access the land trust, how can the person prove the trust ever exists? Otherwise the title is forever stuck with an owner(trust) that does not exist in reality right?
This is why you should always keep a digital copy of your signed trust. If you lose it then you will need to go to court and prove through extrinsic evidence you are the beneficiary.
Can the Wyoming LLC that u make the trustee also be ur holding company of multiple LLC? Or will u need a separate Wyoming LLC’s?
Yes but I prefer to use a separate LLC
@@ClintCoons could u quickly elaborate or make a video explaining why? Thanks in advance
I need an answer to this question as well why would I need a seperate LLC?
Hi Clint👋🏿,
Question:
My godmother died 3 years ago a short time after my godsister died. She gave me keys to the house and some papers when I was a 12 years old and told me not to lose them.
I took possession of the house and have been there over three years. What should I do…
You need to bring a quiet title action. This will require a local attorney. You will probably need to live there 10 years for it to take effect.
As a real estate landlord we all know that evicted tenants might exploring the option to conjure a lawsuit just to get a settlement using the stinking Services of a ambulance hunting lawyer,
What kind of people work based on a result percentage.
I'm here is (finally) my point, I want to use a trustee that is in a different state then my property,
so it is very hard to 'legal serve' him.
However if you use a entity that by default has a registered agent it makes the legal serving very easy isn't that so?
Correct.
If the state doesn't recognize it how can it be used to protect your assets?
The land trust does not offer asset protection that is why an LLC is needed as the trust beneficiary.
Oh. Okay. Thanks.@@ClintCoons
Can I use my Wyoming LLC, as trustee on a Florida land trust to purchase my own personal residence and still be able to get homestead exemption on my property taxes?
@@Adventurexoutdoors I would be careful with that strategy. Your trust will need to have certain provisions to ensure compliance with FL homestead laws.
If new deed is recorded after Nominee Trustee resigns, and now I'm listed on the Trustee deed, doesn't that blow away anonymity? Trustee deed is a recorded public document isn't it? Thank you
Very good Video, BUT in 2024 if I like avoid the Fincen, the first is I Use the LAND TRUST in Florida for example and Next I Open the LLC and Put this Land Trust How Member the LLC and this LLC is Trustee by Member Manage and then I Name the LLC how Truste the my Land Trust. This is Can Works?
Yes but the LLCs must be disclosed to FINCEN