This may not be the case all over the world but am sure will be very similar.. The whole world hates the US in Public, but in Private, they do learn and follow plenty of it's Systems..
Would placing my current property into an LLC trigger an acceleration clause to close out the loan as it is technically changing ownership? This would force me and many owners in the same scenario to refinance, possibly at a higher rate? What would be the best approach in this case?
LLC will pay more property taxes. LLC by definition is a company, not asset protection mechanism - not a good idea. Where are you making money for your company-a LLC? are you ready to pay very high income taxes.
Thank you very much
thank you Garrett!
Fascinating area for an attorney to practice in corporate asset protection strategies. Awesome.
Great insight Garrett.....
Thanks so much.
God Bless.
Wow you are an amazing teacher. Such a great tip.
Great book - lots of great info to learn. Thanks for sharing your wealth of knowledge!
I wish we had someone like you in the Netherlands!
Wow perfect solution for some property acquisition I need to do
Thanks Garrett
Thanks Garrett! Very valuable content!
Is this the case all over the world, regardless of country or does it only apply to the USA?
This may not be the case all over the world but am sure will be very similar.. The whole world hates the US in Public, but in Private, they do learn and follow plenty of it's Systems..
There are plenty of "havens" out there. The Bahamas, Sweden, Hong Kong just to name a few.. depends on what outcome you are looking for.
Do I lose title insurance by transfer properties into LLC in CA?
Great info. Thanks a lot!
This strategy can be used only for real estate?
Hello,
Can I buy house under my LLC and rent it to my self?
If the first dibs is for the HELOC for $300K , would the Equity Stripping LLC be able to pull that equity out after it was sued?
Your name should be prefixed with "The Great" :)
Would placing my current property into an LLC trigger an acceleration clause to close out the loan as it is technically changing ownership? This would force me and many owners in the same scenario to refinance, possibly at a higher rate? What would be the best approach in this case?
It shouldn't because you're technically deeding the property to the LLC, not selling it to the LLC.
Someone else can correct me if I'm wrong, though.
So if you have 6K properties you make 6K LLCs?
LLC will pay more property taxes. LLC by definition is a company, not asset protection mechanism - not a good idea. Where are you making money for your company-a LLC? are you ready to pay very high income taxes.