How does Land Trust fits in all these? (Texas)
Please bear with my questions.... as I searched all I could find about structuring multiple entities for asset protection and anonymity on this forum, there are some of my concerns still unanswered.
My REI strategy is to buy and hold rentals in North Texas. It's important for me to structure these entities correctly because I am planning on having a Real Estate license to complement my REI business. Having a RE license can be a huge liability but I feel my pros outweigh my cons in this aspect. My RE license as an agent has E+O insurance on my transactions. (That's just the small part ). I'd like to structure my businesses correctly right from the start.
1. LP to hold properties 99% and GP 1% as my C-corp.
2. C-corp is my property management company to pay fringe benefits to employees (me + spouse). Also, as I go collect rents, maintain properties, I will present myself to my tenants as an employee. "Any other concerns you may have, I'll have to talk to my boss (spouse)". C-corp or LLC better as property management co?
3. Land Trust (for Anonymity + Privacy) .......
Hold title to property in Trust, with LP as beneficiary. Is this correct?
What I still dont understand is how all these (LandTrust, LP and C-Corp) tie into each other?
When I go out to purchase a property, I will use my own name (hard to get loans via corporations) , then transfer property into Land Trust? with LP as beneficiary? Then my C-corp collects rentals? Please clarify.
If I need to purchase more properties, can I show the banks that "these income generated by my entities are owned by me" so that my income qualifies for the mortgage?
YES I CAN HELP FOR FREE ON THIS SUBJECT, I KNOW IT QUITE WELL,
THEY DO TIE IN TOGATHER
FORMR PARALGL
How could I get in touch with you?