Thanks for joining me today -- Learn about real estate asset protection at our FREE Livestream Tax & Asset Protection Workshops where we'll answer ALL your questions. Get in: ---------------------------------------------------------------------------------------------- SUBSCRIBE ~~~~ FREE REAL ESTATE INVESTMENT STRATEGY SESSION Claim Your FREE 45-minute Investment Strategy Session to receive business planning tips and asset protection. 👉 FREE TAX & ASSET PROTECTION WORKSHOP Learn about Real Estate & Asset Protection from Clint Coons, Esq, and Toby Mathis, Esq. at our next all-day free Livestream 9 am to 4 pm PT. on Saturdays. Our attorneys and specialists will answer ALL questions: 👉 Save Your Seat: ~~~~ FINANCIAL PLANNING & RESOURCES Download your free copy of Un-Tax Yourself eBook and discover the secret to real estate wealth is in the tax deductions. For financial strategies, podcasts, articles and details on upcoming workshops visit Here’s a little about me and my book Asset Protection for Real Estate Investors ~~~~ FOLLOW US: Instagram: Facebook: Twitter: LinkedIn: ~~~~ CONTACT US Phone: 800.706.4741 Email: info@andersonadvisors.com Fax: 702.664.0545 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. --------------------------------------------------------------------------------------------------------- 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. #LLCs #RealEstateInvesting #Rentals...(read more)
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Are you interested in starting a rental real estate business but don't know where to start? One of the first steps you need to take is to set up a Limited Liability Company (LLC). In this article, we will walk you through the process of setting up an LLC for rental real estate. We sat down with Clint Coons, a licensed attorney and real estate investor with over 20 years of experience in the industry, to answer some frequently asked questions about LLCs. What is an LLC? An LLC is a type of business entity that provides both personal liability protection and tax flexibility. It is a hybrid structure that combines the benefits of a partnership or sole proprietorship with the liability protection of a corporation. Why is an LLC important for rental real estate? An LLC is important for rental real estate because it protects your personal assets from lawsuits or claims resulting from incidents that occur on your property. It provides a barrier between your personal and business assets and can help you avoid losing everything if a tenant sues you. How do I set up an LLC for rental real estate? To set up an LLC for rental real estate, follow these steps: 1. Choose a name: Your LLC name needs to be unique and not confused with an existing entity. Conduct a name search to ensure that your desired name is available. 2. File Articles of Organization: This legal document establishes the existence of your LLC with the state. It outlines the LLC's name, location, registered agent, and member information. 3. Obtain an EIN: An EIN (Employer Identification Number) is a unique identifier for your LLC that you'll need to do business. You can apply for an EIN through the IRS. 4. Draft an Operating Agreement: This document outlines the LLC's internal operations, including how profits and expenses will be allocated, member duties, and voting rights. 5. Set up a Bank Account: Open a separate bank account for your LLC to keep business finances separate from personal finances. What mistakes should I avoid when setting up an LLC? Some mistakes to avoid when setting up an LLC include: 1. Not doing enough research on the state's legal requirements for forming an LLC. 2. Not choosing the right name for your LLC. The name must not already be taken, and it cannot imply it's part of a governmental agency. 3. Not having an Operating Agreement. Although some states do not require this, it's an essential document that outlines the LLC's internal operations and reduces disputes between members. 4. Not filing necessary paperwork with the state in a timely manner. 5. Not keeping accurate records of the LLC's tax filings and financial transactions. Conclusion Setting up an LLC for rental real estate is a critical step in protecting your personal assets and establishing a professional business structure. By following these steps and avoiding common mistakes, you can create a successful LLC that helps you achieve your business goals. As Clint Coons advises, "Don't let the fear of the unknown deter you from setting up an LLC. It's a simple process that can save you tons of headaches down the road." https://inflationprotection.org/qa-with-clint-coons-step-by-step-guide-to-establishing-an-llc-for-rental-properties/?feed_id=98547&_unique_id=646520d5a6e8a #Inflation #Retirement #GoldIRA #Wealth #Investing #assetprotection #ClintCoons #llcforrealestateflipping #llcforrealestateinvesting #LLCForRentalProperty #llcrealestate #realestate #realestateattorney #realestateinvesting #RealEstateInvestments #realestatelawyer #realestatellc #realestatellcforrentalproperty #rentalproperty #rentalpropertyinvesting #theprosandconsofusinganllcforrentalproperty #usinganllcforrentalproperty #usingllcforrentalproperty #SpousalIRA #assetprotection #ClintCoons #llcforrealestateflipping #llcforrealestateinvesting #LLCForRentalProperty #llcrealestate #realestate #realestateattorney #realestateinvesting #RealEstateInvestments #realestatelawyer #realestatellc #realestatellcforrentalproperty #rentalproperty #rentalpropertyinvesting #theprosandconsofusinganllcforrentalproperty #usinganllcforrentalproperty #usingllcforrentalproperty
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