Should You Move Your Rental Properties Into An LLC?

When is it appropriate to place one rental property into an LLC? If your looking to make a name for yourself in the real estate world then there is a pretty good chance you're going to need a business entity to back your practices up.

You may be plagued with questions like…

“Should I move my rental property into a Limited Liability Company?” 0:07

What are my alternative choices to an LLC?

Why do I need an entity at all?

And so on and so forth.

Wouldn't it be grand to have an experienced lawyer with years of experience and knowledge to answer your questions right now? Well Clint Coons, Esq. is the very answer to when or when not to move property into an LLC.

Listen up, friends. It's important to have a business entity in place when renting out your property. While the LLC is the most common type of entity it isn't always best for everyone.

Watch the video above to learn more about the LLC and when it's best to use it.

Our channel is a cornucopia of information, so please consider subscribing to the channel for more great resources like this one. It would also really help our channel grow if you like our content.

Are there any questions you have about the LLC? Please leave them in the comment section below. We'll do our best to answer them as soon as possible.

We hope you enjoyed our video, and we look forward to helping you with any legal needs in the near future.

Show Notes
0:00 Intro
0:27 Should You Utilize An LLC
3:33 When Not To Use An LLC
5:37 Outro
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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.

#llc #rentalproperty #anonymity

[BTCnREI]

Very informative! Good stuff. Thank you Sir!

[shohamsaha]

Fantastically explained. Concise and to the point. No beating around the bush.

[zackdaniels]

I’m into my first rental property and this is exactly what I needed thank you so much!

[jeanettestandard]

I can wait to start investing in tax deeds and liens so I can have you guys help keep me protected and aware I just love the content your awesome

[romegq]

Happy New Year Clint. I enjoy your videos, please continue the content. Question, with regards to a rental in the states of PA and CT, is you're company available to place that also into a Wyoming LLC?

[nguye]

Great tip as always. Thanks Clint
What is the impact on title insurance if transferring the property into an LLC?

[RNatelli]

Awesome video, quick and easy to understand, thank you! Question; If I purchase a property in cash under my personal name, can I/should I refinance under an LLC? Just purchased my first property and I am trying to understand how to set myself up properly moving forward, thanks!

[mmdwyertravel]

Hi Clint- thanks for the great videos! These have been tremendously helpful. If I have a conventional mortgage on my rental investment, am I allowed to change the title / deed to my LLC (if I am the only member of the LLC)? Or, will that trigger cash due on sale (i.e. will I have to pay off the mortgage)? This is something we've had trouble finding clarification on.

[impacttheworld]

Thank you for the video! How do I switch property from personal name to LLC? and whats the cost? Thank you Clint!

[fanatichockey]

Good advice at the end. I need to refinance my FHA duplex. A year passed and have them both rented out now. This mortgage insurance is killing me. I'm also scared to refinance and then move it to an LLC because of the rumored due on sale clause. However unlikely it is, it may still happen.

[sbphil]

Clint where's the link for the 45 min strategy advisory? I've been trying to reach you for sometime. Love your videos. I just have questions and would like to talk over the phone with one of your advisors or you!

[aminsalehi]

Hi Clint, Thank you for putting out great contents. Do you have a recommendation on how to put rental properties into LLC and avoid transfer tax? you have talked about using land trusts in your other videos, but some states like Pennsylvania are not trust friendly and you still need to pay 2% transfer tax even using land trusts.

[SriRam-yqid]

Great Video and thanks for sharing your knowledge. Will the property taxes go up if I put my existing home into a LLC before converting it into a rental property?

[navidsoroush]

I bought a prjmary that now I rent. I have a large umbrella coverage. Do you recommend an LLC for the now rental unit and is there a wallet friendly way of doing so? Does it require transfer of ownership? That’s be at least a few percent of assessed value in my locality. Thanks!

[johnyoung]

Hey Clint - videos are awesome. I have 3 properties that I own in my personal name. I'm in the process of a cashout refi on one of the properties that will allow me to payoff the other two mortgages. I believe using the llc loan to pay off mortgages in my personal name will trigger a taxable event for me. Do you have any suggestions how to accomplish moving the property to the LLC and paying off the other mortgages?

[starmaster]

Great Video! are you able to use a Wyoming LLC and get it's benefits even if you and your property are not in Wyoming?

[deancoronado]

Is there any reason you prefer starting an LLC in Wyoming vs Delaware or Nevada?

I've done some research toward starting several LLC's, and Nevada seems to be the one best suited for my needs, both for taxes and asset protection.

[pablobarrerarowley]

That was kind of confusing. You stated the argument as owner and as a rental property. Even though they can be put both independently under your LLC there are deferent consequences and procedures. I think that's something that need to be clarified. Other than that, that's a good stuff.

[jorgegiraldo]

They can still qualify for a non qm cash out refi

[PursuingTheBest]

Great videos Client. Quick question, Can I stay in my own investment property when not renting it out? Are there any restrictions on this? Ie… if we rent out property for 6months of the year and want to stay in it for 6months are selves. Any depreciation or other tax impacts if allowed to stay in it ourselves?