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28 October 2019 | 21 replies
@Austin Montgomery Transferring the property into a trust, particularly an anonymous land trust within a Series LLC, would be a way to avoid the Due on Sale clause while also allowing you to utilize your LLC strictly for paying rents, contractors and doing business.
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30 October 2019 | 17 replies
Experience:As a landlord for my two unit investment property in Irvington, New Jersey From my very first article, anyone who interacts with my profile knows I’m an anonymous landlord.
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30 October 2019 | 4 replies
Now that you disclosed you have money, be careful of all the anonymous solicitations you will receive.
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30 June 2021 | 25 replies
Pro: in some state you won’t trigger a reassessment on your property taxes (in some however you will have to disclose the change of ownership)You may also not have any stamp tax as there will be no new deed recordingYou won’t have to pay for a new LLC.The LLC will be more seasoned and may look better for a lender.If you put a trust as member or another anonymous LLC, it will give you great anonymity on the ownership.Con: you inherit all the past liability of the LLC.You inherit also the initial depreciation of the property from the initial buying cost and also the recapture...For all these reasons, I rarely buy an LLC but prefer to deed the property into a new LLC instead.
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3 November 2019 | 3 replies
An LLC will usually be tax neutral.One of the usual setup for buy and hold real estate investors (but may be seen as too much for some as they swear by liability and umbrella insurance ONLY):Each property is titled into a land trust (for anonymity, and in case of mortgage to avoid the due on sale clause).Each Land Trust has a single member LLC as beneficiary, in the same state than the property.Each Single member LLC is owned by a holding LLC (usually Wyoming, but some other state have also good charging order protection).
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8 November 2019 | 12 replies
I believe, if you have a certain legal structure where you are renting it from a company and the unit is no longer in your name but transferred to say, an anonymous trust, then it can be turned into a commercial non-owner occupied property.
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11 January 2021 | 20 replies
[A trust usually doesn't offer liability protection, just a layer of anonymity.]
10 November 2019 | 6 replies
But whether or not your need a different LLC for each property and trusts for added anonymity is entirely subjective.
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13 November 2019 | 87 replies
Anonymous.
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11 November 2019 | 13 replies
Tell the other tenants that you feel their pain, and that they should report, anonymously, to the police every single time they see any illegal activity going on.