LLCs for Real Estate

LLCs and Real Estate

If you are investing in single family homes, 4-plexes, apartment buildings, strip malls, trailer parks, land or any of a dozen more types of real estate, then this module will lead you through the intricacies of Buy and Hold, Flipping and Wholesaling. Take advantage of the tax strategies that an “S” LLC or an “S” Corporation can bring. Learn how to eliminate self-employment tax and drastically reduce employment taxes when flipping properties.

Use this document to review the benefits of using an entity and to get a sample document to record the transfer of deed. LLCs for Rental Properties.

This module is for everyone from beginners to experts and has valuable insights and examples for people interested in taking advantage of Series LLC structures as well and conventional entities. Click here to obtain copies of the presentation LLCs for Real Estate v1

A special section on CheckBook IRA LLCs introduces you to this untapped source of investment capital.

Learn more about the benefits now.

50 thoughts on “LLCs for Real Estate”

  1. Hello Dear. I’m Maria G. Ordaz and I have a new information regarding my business I have the software for my business already with Turbo Tax for my Income Tax. and I have The software of Quicken for Real Estate and Quick books of Intuit and when I pay for my software and the person who take my order asking me what kind of business do you have and I told her that my business is an Investment entity and I can Invest any kind of Investments and I have an Investment with Scott Trade he is my broker. and Real Estate and he asking me for my federal ID number and he approve Banking services for me, because he say that my business has relationship with banks. and Investments I have the software of Vantage, because when I Invest the money with Scott Trade and open my brokerage account and he told my that I’m with Vantage, and I have My Business plan already and I have the Merchant Account is already approve and now I can accept credit cards. and I’m Taking classes to get my Real Estate License, because if I don’t have license I can not open my business. and Thank you so much for all your information and is very important for me. Thank you again. Best Regards. Maria G. Ordaz.

  2. I got about 17-18 minutes into the LLCs For Real Estate webinar, and it froze. The progress bar jumped to the end. When I moved it back to a point before the freeze, it would freeze again, at the same point. When I moved the progress bar to a point after the freeze, or searched to a point after the freeze, the webinar would not play.

  3. Hello Ronald,

    The file appears to be intact and the hosting provider has indicated that they had a problem that has since been corrected. I have just played the video on Internet Explorer 10, Chrome 29 and FireFox 23 and skipped through all of the sections forward and backward without issue.

    Regards, Gary Bauer

  4. “Structuring” involves selecting the correct type of entity – Corporation, Limited Liability Company, Limited Partnership, etc. Obtaining the correct tax treatment for the entity – sole member, partnership, S or C elections. Once these fundamentals are determined, filing the correct state and federal forms complete the formation of the entity. We also provide the company minute book, operating agreement and certificates as well as online education and regular conference calls.

    Regards,
    Gary

  5. says we will get to learn about HOme office deductions, business expenses, hiring a book keeper and paying taxes.
    Where do we learn all this ? In upcoming mofules? or conferencce calls ? I am signed up member.
    Gayle

  6. Hello Gayle,

    Additional modules will be placed in your web page. We add about 1 per month to your account. We also have the Monday night calls that are open to all members and we provide access to our previously recorded calls that also cover almost all questions that new business owners may have.

    Regards, Gary

  7. After reading document: LLC for Rental Properties, we have a question on statement below:

    If the lender calls you, explain that you are doing the transfer into an LLC owned and managed by you for liability and asset protection. Explain that you are still responsible for payment of the mortgage. Generally the lender will not give you permission for the transfer, but will not proceed with the call on the loan.

    Question: Why would a lender not give us permission for this type of transfer?

    thanks,
    K. Browder

  8. Hello Keeja,

    I am not certain of the reasons. This has happened to us in the past. You should communicate with your lender to verify their requirements.

    Regards,
    Gary

  9. After viewing this video I am concerned that my entity isn’t the best one for me. I will try but may not make $35,000 this year after expenses… Also, I am flipping in other states, i.e. Michigan and possibly Florida.

    Also, after watching the 2nd video “Seven things not to do” or something like that… It stated to not commingle expenses… I have had lots of expenses in setting up my business that were purchased personally. I only recently established a company bank account. Is that an issue?

  10. I have finished listening to the first module and will listen to it again when Richard gets home to listen with me. Packed with information for sure! It was mentioned that powerpoint slides were available to be printed to facilitate note taking during the modules, but I haven’t been able to find that for the first module. Can you help me with that please?

    Connie Craft

  11. I am transferring my Rental property into my LLC., Series and wanted to use the deed/quick claim example, but could not open it. can you e-mail or send my a copy??

    Thanks
    Regina Beam

  12. As far as the IRS and tax breaks are concerned, there is no difference between an S LLC and an S Corporation.

    Corporations have a more complex administrative structure and have more strict formalities. The Chairman and board of directors set the business direction and elect officers (President, Secretary, Treasurer, etc.) while the shareholders elect the directors. Quarterly meetings of the directors and more frequent meetings of the officers are required.

    Limited Liability Companies have a more simple structure. The members elect the Managers (President, Secretary, Treasurer, etc.) to create and implement business direction. Only annual meetings are mandatory and it is suggested that resolutions be documented to demonstrate that you are running a business.

    Both LLCs and Corporations offer the same level of liability protection.

    Regards,
    Gary Bauer

  13. “black screens” frequently indicate issues wit the internet connection or speed. This is particularly noticeable when playing videos.

  14. Good Evening,

    I am looking for the information I will need to take my “next steps” with my LLC. I received the documents at the end of September. I am certain I need to file something with the IRS, and I’m sure I need to take action with the fancy book. I just don’t know what.
    Where should I look for this? I just viewed the “LLC for Real Estate v1” and “LLCs for Rental Properties”. I did not find my answers there.

    Please advise.

    Thank you,
    Laura

  15. How educated we must become in this subject. I thought the reason that we hire WCAP, is so we don’t have to do this ourselves. is this just for educational purposes, or this means that we have to handle l our own matters?

  16. We cannot speak for WCAP since we were hired to do the company setup and minute book eduction. These additional modules are offered as part of our web program and reflect our own experiences.

    Regards,
    Gary Bauer

  17. Hi there,

    I am clicking on the modules tab and attempted to watch The 10 Mistakes. It’s only providing me with clips and not full videos. How do I access the real module instead of the clips?

    Thanks,
    Lesley Dokes

  18. Hi Lesley,

    The short clips are the videos – each one deals with at separate issue.

    Regards, Gary

  19. Hi I have a question as far as the business license goes. Do we need to have one in order to buy a property under the LLC? If so would we then just purchase under our names and then transfer over to LLC when we have the license if we’re doing a fix and flip?

  20. My LLC is based in Queens, Ny. Would i need foreign registration, for example…. in Buffalo to purchase a property?

  21. Hi, if we have located properties we would like to do Wholesaling transactions with, how do we find investors & is the best way to contact the current owners making postcards to them? If so, we would like to verify what should go on the postcards.

    Thank you, Mark & Dianne Gibson

  22. LLC’s For Rental Properties…..”Failed Insufficient permission” I would realy like to watch this, can you help me?
    Thanks,
    Matt

  23. Good Morning,

    I am trying to find the video on transferring properties into LLc’s. I originally watched this a couple months ago, but as I am closer to purchasing a property (in my name and then transferring to LLC), I wanted to refresh my memory on it. I have searched through all of the modules and cannot find it. I believe it was a link in the “LLC’s for Real Estate” module, but most all of the links there are broken. The bring me to a page that says:

    BlobNotFound

    The specified blob does not exist. RequestId:f56d3b4f-0001-0046-04a3-f05f29000000 Time:2016-08-07T11:59:31.5198379Z

    Any assistance in locating this module/information would be greatly appreciated.

    Thank you,
    Matthew

  24. When I click on the links under “My Modules”, listed as “LLCs for Rental Properties” and “LLCs for Real Estate v1”, I get the following error messages:

    BlobNotFoundThe specified blob does not exist.
    RequestId:4d345c9a-0001-011e-3e4a-f61d07000000
    Time:2016-08-14T16:43:10.9576534Z

    Are these links broken?

  25. Hello Linda,

    Our Web host is changing ‘things’ – sorry for the links – they are working on it 🙁

    Gary

  26. Where can I purchase the workbook that goes along with the modules for setting up the Minute Book?

    Thanks,

    Ebony Kirby

  27. I was going through my LLC and noticed that it is set-up as a partnership for taxes and a form 1065 has to be filled. Can it be changed to a sole proprietorship and taxed on a schedule C? I have not been able to really find any deals, but one and I want to reduce my fees for filing and be able to write off my expenses on trying to get a business started. I don’t know if there is any benefit in it. Just want to reduce fees.

  28. I was going through my LLC and noticed that it is set-up as a partnership for taxes and a form 1065 has to be filled. Can it be changed to a sole proprietorship and taxed on a schedule C? I have not been able to really find any deals, but one and I want to reduce my fees for filing and be able to write off my expenses on trying to get a business started. I don’t know if there is any benefit in it. Just want to reduce fees.

  29. I was going through my LLC and noticed that it is set-up as a partnership for taxes and a form 1065 has to be filled. Can it be changed to a sole proprietorship and taxed on a schedule C? I have not been able to really find any deals, but one and I want to reduce my fees for filing and be able to write off my expenses on trying to get a business started. I don’t know if there is any benefit in it. Just want to reduce fees.

  30. I recently established two LLCs in October 2016. One LLC is just for myself as an air show consultant. The other LLC was established as a partnership with my son in law for flipping houses in New Hampshire and Maine. Both were established in the state of New Hampshire in late October. In January, I sent renewal fees to the Sec of State in New Hampshire with only my address change in New Hampshire. My big question now is what do I need to do with filing any tax forms with the Federal govt and/or with the state of New Hampshire for 2016? I have nothing to report for income or expenses for my single LLC for 2016, and we have no income to report for 2016 for our partnership LLC, but I would like to file for our prorated allowable annual expenses from the Success Path total fees of $43,000 that we paid for the two workshops in New Hampshire last year.

  31. Hello Ed,

    Great questions for your accountant.

    I believe that the single member LLC does not need any federal filings since everything is reported on your personal return. The Partnership will use a form 1065 K-1 to indicate how income / expenses are split among partners. Your accountant will be able to help categorize the expenses to maximize your benefits.

    Regards, Gary

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