Sep 10, 2020
Our guest for today, Clint Coons is an attorney and real asset protection expert. He is the founder and managing partner at Anderson Law Group.
Connect with Founders Club Host Oliver Graf on Instagram: @OliverGraf360
In this episode, Clint joins Oliver to reveal the right legal structure for your real estate investments so that your assets are properly protected from litigation and creditors.
Today, Oliver walks you through the nitty-gritty of creating an LLC to house your real estate investments. If done the right way, you can create a separate legal entity that can safely house your prized real estate assets.
Other topics discussed on this show include how to set up a land trust, C Corp’s vs. S Corp’s, benefits of forming an out-of-state LLC, and the different costs for setting up an LLC.
We hope you enjoy this show! Tune in now!
Key Takeaways:
Quotes:
“I've been in the process in the last two years of cutting all that stuff out of my portfolio, and sticking with the concentrations of where I have the majority of the investments.”
“You're going to have to close in your own name because it's a personal residence, but then I would transfer it to a land trust and I would set my land trust up with a nominee trustee.”
“When you run your business as an S corp because it's a flow-through all that activity shows up on your 1040 and lenders know you're in business for yourself.”
“And if you do not understand the risk, you then will not be able to appreciate the risk and by failing to appreciate the risk, you're going to take action that will possibly result in you going through bankruptcy, losing all of your assets.”
Resources:
Clint’s Real Estate Protection Book
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