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Best Legal Entities for Real Estate

In today's video, we will cover all about legal entities: limited liability company (LLC), S-Corporation, C-Corporation, Partnerships, you name it! This episode was created to provide you, the real estate investor, with real asset protection. Having insurance on your real estate investment is good, but definitely not enough to protect everything you have worked so hard for. Not to mention the tax benefits you get for setting any of these legal entities up! And once again, we have a great guest in today’s video: Jennifer Kirkland and she will fill you all in on legal entities for real estate investors. Jennifer Kirkland has been an accountant for over nine years and the first African American woman to receive a Masters of Studies in Taxation and Law from New York University School of Law (NYU Law). She’s is also a real estate investor and my accountant for many years. Jennifer is a Certified Public Accountant (CPA) and is licensed to practice in all 50 states. Happy watching and feel free to contact Jennifer for any tax or legal entity related questions! Contact Jennifer at 👉[email protected] ⏰ TIMESTAMPS 0:00 Best Legal Entities for Real Estate 0:46 Legal Entities: LLC 2:33 Benefits of having an LLC 4:58 What is the best way to create an LLC? 6:32 Can I sell a house under an LLC having a regular mortgage? 8:32 Legal Entities: LLC Partnerships 10:03 What is a bylaw? 11:59 What do you need to start an LLC? 14:13 Can you start an LLC in a state you don't live in? 14:58 How to maintain an LLC? 16:03 Legal Entities: S-Corporation 17:31 LLC vs S-Corporation 19:52 Benefits of having an S-Corporation 21:34 Legal Entities: C-Corporation 23:08 What is an IPO? 23:31 How does a C-Corporation work? 24:51 Is INC the same as a corporation? 25:50 What is the best state to open Legal Entities? 27:47 What is a Sole Proprietorship? 29:45 Sole Proprietorship: Advantages and Disadvantages 30:00 What is an EIN number? 30:30 Benefits of having an EIN number 31:00 Legal Entities for Real Estate investments *DISCLAIMER: THIS VIDEO IS FOR INFORMATIONAL AND ILLUSTRATIONAL PURPOSES BASED ON THE INDIVIDUAL EXPERIENCES OF THE PRESENTER. EVERY SITUATION IS DIFFERENT AND YOUR RESULTS MAY DIFFER. YOU SHOULD ANALYZE THE RISKS ACCORDINGLY BEFORE PROCEEDING TO TAKE ACTION*