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ASSET PROTECTION STRATEGIES FOR REAL ESTATE INVESTING, SO SECURE YOU CAN SCREAM, "SO SUE ME."
Asset protection strategies,the bulldogs for safeguarding your real estate investments can quickly be unleashed, it's as easy as placing a call to your real estate attorney.
Utilize multi-layered asset protection strategy for your real estate investments and limit your personal liability.
All the money in the world can't buy peace of mind only asset protection strategies can and just think how peaceful you will sleep with beautiful dreams of real estate knowing that your assets are safe.
"Own nothing and control everything"- Dale Carnegie
Do not own anything in your own name.Real estate is the most fought after asset in recovery lawsuits. Many investors work hard to
amass a real estate investment portfolio,
only to have it ripped away from them due totheir inability to shield it from predators, lawsuits,and the prying eye of the public.
Get all legal on it. A corporation is viewed as another entity under the law,separate from you--even though you still control its activities.
SECURE ASSET PROTECTION STRATEGIES CONTAIN
Corporations; C or S, Limited Liability corporations (LLC),and Land trusts combined, create a multi-layered insulationthat safeguards your real estate investment by offering the highest level of security and privacy.
Corporations, both C and S types offer tax benefits and business maneuver ability while giving personal liability protection. They
increase the opportunity for raising capital
and
operate as a professional business entity.
For real estate investing it's the LLC, created in 1977, that's the most popular. LLCs go the extra mile and give the real estate investor the greatest flexibility, hassle-free maintenance, and are recognized as a pass through entity which eliminates double taxation.
LLC's create the opportunity to partner with someoneon a project without giving them access to all of your real estate business. This is especially good for
short term real estate investing.
These asset protection strategies also make you
look professional
and can smoothly be transitioned to a purchaser or bequeathed to your heirs--often without taxation.
Avoid Single Member LLCs for asset protection strategies. They can easily be pierced- exposing your personal assets, they do not offer charging order protection, and they create a higher IRS audit risk. If you need a second member use a spouse or another enity like a C corporation which will automatically give you more privacy and limited liability. It is crucial to continue and add another layer of insulation; the land trust. "Illinois-type" land trusts have been used for over 100 years.
By using a trust as the manager of your LLC or officer of your corporation, you can keep your name off the public records. Members of LLCs and stockholders of corporations never need to be listed.
Land trusts automatically allow
•Privacy from the public eye
•Ensure purchase & sales price remains concealed
•Anonymous ownership discourages litigation
•As an easy & quick means of execution
•Allows Gift Tax Exclusions
Land trusts let you
•Avoid Partition
•Avoid
Probate
•Avoid Inheritance taxes
•Avoid Liens
•Avoid Litigation
•Avoid Seasoning or Chain of Title issues
Land trusts make a
non-assumable loan assumable
&
a non-assignable contract assignable, through beneficiary rights.
Land trusts are also advised if you are
wholesaling
or
lease-optioning houses.
Land trusts allow you to secure collateral when lending money for real estate, by giving you control of the property until the note is paid. And you still get the tax advantages, even though it's not in your name.
Land trusts have quick set-up.
A trustee is named (use your favorite attorney) and you are assigned as the beneficiary. But only the trustee's (attorney's) name appears in public records, not yours.
You have liability protection because it is a separate entity and best of all, you have anonymity while retaining total control.
Due to the beneficial rights of the land trust,a sale of the land trust or the property in it are never revealed which usually results in lower property taxes and no state sales tax. Also, land trusts save on Title Insurance since the title remains the same and gives total privacy.
Sit back, rest assured knowing that the bulldogs, your asset protection strategies are in place, unleashed, and doing their job safeguarding your real estate investments and the future.
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