The Best Legal Entity for Real Estate Investing | Morris Invest Live

The Best Legal Entity for Real Estate Investing | Morris Invest Join us for a special live stream where Clayton and Natali Morris answer your questions about business legal entities for buying real estate. We'll answer questions like: Do we need a lawyer? Just one in our state, or one in each state where we own properties? How hard is it to create corporate formalities for each LLC? When do you transition from just a landlord to an official LLC? Can you get a conventional mortgage in an LLC? Can you refinance a property owned by an LLC? Could you help to understand how do you go about due-on-sale clause? When an investment property is purchased with conventional mortgage lenders do not lend to LLCs. I would need to transfer the title from personal name to an LLC after closing which may trigger due-on-sale clause. If you purchase a property with an FHA loan, it’s intended to be owner-occupied. Will the bank refuse to lend to you if they see that you’re buying it under an LLC ? Do you need liability insurance on each rental property, getting this insurance on the LLC entity itself, or both? How should you title your LLC? Are there tax benefits to purchasing rental properties within an LLC? And much more! Resources Mentioned: Rich Dad Poor Dad by Robert T. Kiyosaki: https://goo.gl/mMi8Lk Freedom Cheat Sheet: https://goo.gl/mjiQYX Exponentially Grow Real Estate Portfolio: https://goo.gl/QIbl2r ProVision Wealth Strategists: https://goo.gl/u3MLRk York, Howell, and Guymon Tax Planning: https://goo.gl/Xp5T9v Getting the Money by Susan Lassiter-Lyons: https://goo.gl/CPQjHy MorrisInvest.com/funding: https://goo.gl/hKufnq Private Money Series: https://goo.gl/0xTVrv Investing in Real Estate Podcast: https://goo.gl/ATKfwX Morris Invest blog: https://goo.gl/asNe8n You Can and You Will by Joel Osteen: https://goo.gl/MwJH4G Seat of the Soul by Gary Zukav: https://goo.gl/5YSTI5 BOOK A FREE CALL WITH OUR TEAM TODAY AT MORRIS INVEST: https://goo.gl/DNIIh0 CHECK OUT OUR OTHER GREAT VIDEO PLAYLISTS LIKE: VIDEOS ABOUT TURNKEY REAL ESTATE INVESTING: https://goo.gl/1bGEhB OR VIDEOS ABOUT GETTING STARTED IN REAL ESTATE https://goo.gl/dPfWeY OR VIDEOS ABOUT REAL ESTATE NEWS https://goo.gl/m1b3U8 SUBSCRIBE AND JOIN OUR AWESOME COMMUNITY: https://goo.gl/Polf6I LISTEN TO THE PODCAST: iTunes: https://goo.gl/vM969n FOLLOW ME ON SOCIAL MEDIA: Twitter: http://www.twitter.com/claytonmorris Facebook: https://www.facebook.com/MorrisInvest Instagram: https://www.instagram.com/claytonmorris

Comments

1. We live in CA and are going to invest in our first property in IN. We plan to open an LLC to purchase the property. However, we are not clear on whether the LLC we open has to be a CA LLC or a IN LLC. The CA LLC fee is high ($800 per year). Please advise.
2. Wow! Lots of jabs from the wife!
3. Glad to have found your channel. Thanks for all the great info. Instant subscribe!
4. you both are awesome! just bought my first rental property under my own name as an investment property...looks like I am moving to an LLC. Thank you for your help here! I'm a nervous reck!!!
5. I rent in California and looking to house hack my first house maybe with an fha. this video is making me want to start investing out of state asap instead of buying a house here in Cali. how much cash do I need to invest out of state?
6. I don't understand why do you use a holding company as a parent company of those LLCs, any specific purpose? Thanks!
7. Citibank used to have a business account that waived the monthly fee if you set up some automatic bill pays
8. love what you two do and the aspiring message you send out. Thank you This video helped affirm some legal things I read about and now i understand better!
9. where is most of your properties, what state you find most friendly for this kind of investing ?
10. How do you guys pay yourself?
11. I have all 5 in a trust that allows me to purchase real estate tax deferred
12. With your LLC, are you just taxed as a sole proprietor? Im new to rental property as of last year. I havent moved them into an LLC yet. I couldnt write off any deductions last year because our salary was over the 150k limit. Would an LLC taxed as an S-corp help with tax savings?
13. it sounds overwhelming
14. but if he is moving the title to an llc.can the bank call the loan :-D ¿¿¿
15. when u have a property under an llc can u transfer that property back to ur name
16. u can own as many properties as u want but u are limited to 10. mortgages
17. u mean 10 mortgages
18. under the llc.do pay taxes quarterly
19. llc,holding co,trust.
20. sounds really complicated