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If you’re in real estate, you better be dealing with somebody who actually owns real estate and understands the nuances, otherwise, they’re gonna read out of a book or they’re gonna readout of a case and they’re gonna try to tell you to do something that may not be practical at that time, ’cause it is fluid, it moves around.
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20 years ago you could close a commercial property in your individual name. You can’t do that anymore after the big fiasco in 2008, they don’t want to be exposed to your personal stuff, and so almost always if you’re dealing with a commercial property you’re gonna be closing an LLC.
This is absolutely the case ’cause if you have the financing they will not even do financing any more for the individual. You’ll be a guarantor, but they’ll almost always make it be an entity. So this is really important because little distinctions like that can have a major impact on your planning.
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00:00:52 – Knowing who you’re dealing with when it comes to real estate investing
00:01:18 – closing with commercial property
00:02:22 – intermediary entity to mitigate the risk of having that note called due.
00:03:11 – the land trust is number one, people misuse them, they don’t understand exactly what they are.
00:06:01 – Buying and holding using an LLC which stands for limited
liability company.
00:06:14 – An LLC exists for state law
00:10:41 – 00:10:46 – Land trust plus an LLC for rental real estate
00:16:25 – 00:16:31 The corporation a tax designation, so
I could be a corporation [00:16:34.02] or I could be an LLC
taxed as a corporation.
00:16:49 – Active real estate
00:16:55 – wholesale
00:16:59 – flips
00:17:03 – real estate agent
00:18:38 – LLC and 1031 exchange
00:18:52 – LLC taxed as a corp
00:18:57 – flipping properties
00:19:06 – buying and holding property
00:20:46 – LLCs for the holds
00:20:51 – S corp for your flips or possibly a C corp
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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.