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So, if I’m hearing you correctly: 1. Set up your tax lien trusts from the git go? So, even if the county requires your bidder PERSONAL information up front before placing bids, you can still have them issue the lien in the name of the trust? 2. What if you’re just investing just for the interest income, and where almost 100% of the time the taxpayer redeems within the given grace period, should you hold the liens in a Wyoming LLC instead of land trust? 3. When you say “corporation” for the flips, do you mean C Corporation or S Corporation?
Great video! I learned so much about tax liens and tax deeds. I've been using an LLC for my real estate investments, but I can see how using a land trust can offer more flexibility and ease when it comes to the ultimate disposition of the asset. Thanks for sharing your knowledge and expertise. I also registered for your Free Tax and Asset Protection Live event to learn more about properly structuring my investments and protecting my assets.
Might have misunderstood this but you're saying the land trust makes the bid on the tax lien? Or it takes ownership once the redemp merely tion ends and it's time to take possession of the underlying property?
Thank you for all these vids...great content. Been following you for couple years. Really enjoy your work. Just created an LLC in Wyoming last week which I'll put to use at a later date. In 2006 when learning about the UCC and UCC1 and UCC 3 . I was mentored by a relator from Missouri...long story short, He set up a UCC with security agreement where my UCC 1 held a perfected lien against one of his houses with land. I did a UCC 3 partial assignment for the price of the house. It is all duly filed and recorded with the SOS in Missouri. I actually forgot about that transaction and found the contract and UCC financing statements just recently. I called Missouri SOS and gave my original file number and low and behold it is still on file. The original UCC1 that was done prior to the real estate transaction was filed as a transmitting utility which precludes and 5 year refiling. I requested a certified copy, paid the fee and received the cert copy. My question is can this Cert copy of the UCC transaction be monetized in any way, such as assigned to my LLC as an asset of the LLC with the dollar value used as collateral via a UCC 3 partial or full assignment? I really don't know what to do with it and don't know if can be used for anything. That was 16 years ago and i lost contact with the Relator over a decade ago. Any thoughts on this?
Love your videos!!! Should I form the 1st LLC in WY to acquire the tax liens or can I form that one from any state and later on open the WY LLC for the holding of LLC's?
I would set it up in WY because you have anonymity. If you end up acquiring a property, then you should set up an LLC in the state where the property is located.
For when my wife and I buy our own real estate property to live in. To get all of these benefits, could we qualify for the mortgage and get the property and put it in a land trust with my WY holding company as the trustee and set her and I as the successor trustees and the beneficiaries and follow this same process (the holding company resigns/amend the trust and have both of us be co trustees)? Could that work? Or would the bank not allow the holding company to be the trustee of the trust in that process?
How does it work from a tax stand point of the Tax Lien and deeds LLC? When u transfer the property to the other entity, the tax lien business just takes a massive loss and it’ll be a massive profit for the other business/entity?
I get that youre assigning different trust names when your acquiring tax lien certificates, but who is buying the certificates? A check from the LLC? A check from the trust?
Clint- Interesting video- good information! Do you have some suggestions regarding banks or investment platforms to have your account in to make the purchase of liens and deeds?
Also, when using a land trust, should u put the lien itself in the land trust’s name the second u buy it? or do u have an opportunity to switch it to a land trust in the event that they don’t pay u back and u take ownership?
@@ClintCoons My tax lien business is owned by my WY LLC. Therefore both r anonymous. Correct? The plan was to buy the lien/deed with the WY LLC as the trustee and have my Tax lien business as the beneficiary on the land trust. Does that sound right?
Hey Clint, thanks for the info. I wanted to ask if a Tax lien is purchased in my personal name, then I transfer to an LLC, would this be a taxable event if I plan to hold?
So the recommendation is to create these land trust out of Wyoming? Even though the certificates you were purchasing are out of state, let’s say Florida.?
Hi Clint, if I Buy the Tax Deed and after I go to Rental for Section8 program, The question is: do you know if is posible I make this under LLC and under the TRUST or the HUD do not permit this, I.E. only can make the Rental in S8 under my Personal Name or the LLC without anonimity the your proprietary?
Join us for our next Free Tax & Asset Protection Workshop Live stream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/dei
So, if I’m hearing you correctly:
1. Set up your tax lien trusts from the git go? So, even if the county requires your bidder PERSONAL information up front before placing bids, you can still have them issue the lien in the name of the trust?
2. What if you’re just investing just for the interest income, and where almost 100% of the time the taxpayer redeems within the given grace period, should you hold the liens in a Wyoming LLC instead of land trust?
3. When you say “corporation” for the flips, do you mean C Corporation or S Corporation?
If investing for the interest then use an LLC and with the flips it can be either a C or S for tax purposes.
Great video! I learned so much about tax liens and tax deeds. I've been using an LLC for my real estate investments, but I can see how using a land trust can offer more flexibility and ease when it comes to the ultimate disposition of the asset. Thanks for sharing your knowledge and expertise. I also registered for your Free Tax and Asset Protection Live event to learn more about properly structuring my investments and protecting my assets.
Glad it was helpful!
You're full of good knowledge, Clint. Thank You from Roanoke, Virginia.
You are welcome
Coach Clint!! Good afternoon
Might have misunderstood this but you're saying the land trust makes the bid on the tax lien? Or it takes ownership once the redemp merely tion ends and it's time to take possession of the underlying property?
You got it.
I ❤️ this guy! He knows everything💐
Thank you for all these vids...great content. Been following you for couple years. Really enjoy your work. Just created an LLC in Wyoming last week which I'll put to use at a later date.
In 2006 when learning about the UCC and UCC1 and UCC 3 . I was mentored by a relator from Missouri...long story short, He set up a UCC with security agreement where my UCC 1 held a perfected lien against one of his houses with land. I did a UCC 3 partial assignment for the price of the house. It is all duly filed and recorded with the SOS in Missouri. I actually forgot about that transaction and found the contract and UCC financing statements just recently. I called Missouri SOS and gave my original file number and low and behold it is still on file. The original UCC1 that was done prior to the real estate transaction was filed as a transmitting utility which precludes and 5 year refiling. I requested a certified copy, paid the fee and received the cert copy. My question is can this Cert copy of the UCC transaction be monetized in any way, such as assigned to my LLC as an asset of the LLC with the dollar value used as collateral via a UCC 3 partial or full assignment? I really don't know what to do with it and don't know if can be used for anything. That was 16 years ago and i lost contact with the Relator over a decade ago. Any thoughts on this?
Would the same principals apply for mortgage note investing?
yes
Learned a lot from these videos, thank you Clint
Thanks for watching.
Love your videos!!! Should I form the 1st LLC in WY to acquire the tax liens or can I form that one from any state and later on open the WY LLC for the holding of LLC's?
I would set it up in WY because you have anonymity. If you end up acquiring a property, then you should set up an LLC in the state where the property is located.
I'm learning a lot as well (other viewer's comments). Thanks!
Good to hear!
For when my wife and I buy our own real estate property to live in. To get all of these benefits, could we qualify for the mortgage and get the property and put it in a land trust with my WY holding company as the trustee and set her and I as the successor trustees and the beneficiaries and follow this same process (the holding company resigns/amend the trust and have both of us be co trustees)? Could that work? Or would the bank not allow the holding company to be the trustee of the trust in that process?
The bank might not like your holding company listed as the trustee.
Thank you
How does it work from a tax stand point of the Tax Lien and deeds LLC? When u transfer the property to the other entity, the tax lien business just takes a massive loss and it’ll be a massive profit for the other business/entity?
No it is non taxable until you sell.
This is gold!
I get that youre assigning different trust names when your acquiring tax lien certificates, but who is buying the certificates? A check from the LLC? A check from the trust?
Either one will work but I think the preferable entity to take possession is the land trust.
Can you be a private investor? Basically do you have to have an LLC?
Yes you can through an LLC
Clint-
Interesting video- good information!
Do you have some suggestions regarding banks or investment platforms to have your account in to make the purchase of liens and deeds?
Sorry I do not.
Everyday I learn and take imperfect action so I don't have stress of maybe being homeless
Everyday I learn and take imperfect actions so I don't have stress of maybe being homeless
Facts!
How do you transfer the property to an LLC? Do you do a quit claim? Thanks.
I prefer to use warrant deeds to keep my title policy in effect.
Where can I get a got land trust template for this?
Also, when using a land trust, should u put the lien itself in the land trust’s name the second u buy it? or do u have an opportunity to switch it to a land trust in the event that they don’t pay u back and u take ownership?
If you want anonymity you should buy the lien in a WY LLC then take title in a land trust.
@@ClintCoons My tax lien business is owned by my WY LLC. Therefore both r anonymous. Correct? The plan was to buy the lien/deed with the WY LLC as the trustee and have my Tax lien business as the beneficiary on the land trust. Does that sound right?
?
Hey Clint, thanks for the info. I wanted to ask if a Tax lien is purchased in my personal name, then I transfer to an LLC, would this be a taxable event if I plan to hold?
No it is not.
Best content on the Tube
Thanks
Where can we get a recent land trust copy that you recommend?😮
If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
So I'm changing the beneficiary from one LLC to another ? And keeping the trust intact?
Yes
How can this be done if the properties are purchased in a solo 401k trust?
Establish (with the help of a professional) a manager managed LLC that is wholly owned by the solo 401k.
So the recommendation is to create these land trust out of Wyoming? Even though the certificates you were purchasing are out of state, let’s say Florida.?
The trustee is a WY LLC.
@@ClintCoons so don't form an LLC in California if I'm buying tax deeds across the country?
@@theman-kq2uj Correct
Hey bro,
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This is the BEST Video about this type the Investment, I love Sales Tax and CLINT is Awesome Lawyer
Glad you enjoyed it!
Can you do a video of your opinion on a non grantor irrevocable, complex, discretionary, spendthrift trust. sec 643 appreciate it
I will add it to the list.
Hi Clint, if I Buy the Tax Deed and after I go to Rental for Section8 program, The question is: do you know if is posible I make this under LLC and under the TRUST or the HUD do not permit this, I.E. only can make the Rental in S8 under my Personal Name or the LLC without anonimity the your proprietary?
I am not aware of HUD denying trusts or LLCs. I have never run into this issue with my own properties.