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Scalable Real Estate Investing

#13 Protect Your Assets Using Land Trusts with Randy Hughes

September 01, 2020 Mason Klement Season 1 Episode 13
Scalable Real Estate Investing
#13 Protect Your Assets Using Land Trusts with Randy Hughes
Info
Scalable Real Estate Investing
#13 Protect Your Assets Using Land Trusts with Randy Hughes
Sep 01, 2020 Season 1 Episode 13
Mason Klement

If you enjoyed this episode, or are enjoying the Scalable REI show overall, show your support by buying the Scalable REI team a cup of coffee: https://www.buymeacoffee.com/scalablerei

In this episode Randy Hughes and I go into detail about what a land trust is, and why every real estate investor should be using one on virtually every deal. Randy has purchased over 200 houses and is currently in his 50th year of his real estate career. Over this time he has become an expert in everything land trusts, hence his nickname "Mr. Land Trust." Randy's primary goal today is to help people break the cycle of poverty by educating them on some of the best real estate investment practices, including how to protect your assets using land trusts.



Episode Highlights:

  • Nothing in this episode should be relied upon as legal advice.

  • Land trusts are your first line of defense for asset protection in that they provide privacy. However, you still need to make your LLC the beneficiary interest for legal protection.

  • Attorneys often charge $300 to $1,500 to set up a trust, but you can actually set up trusts yourself for free if you know what you’re doing.

  • Never put your properties in your own name or your LLC’s name. Even if it’s in your LLC’s name the owners of the LLC can be looked up, unless it’s a WY or NM LLC.

  • Revocable land trusts are considered pass-through entities by the IRS so you still get all of the same tax benefits that you would when not using a trust.


Helpful Links:

https://www.landtrustsmadesimple.com/

https://www.facebook.com/landtrustsmadesimple



Best Way to Contact Randy:

https://www.facebook.com/landtrustsmadesimple


Best way to contact your host, Mason Klement:

mason@masonklement.com

https://www.masonklement.com/

Be sure not to miss any future episodes by subscribing to the Scalable Real Estate Investing Podcast using the links below.

YouTube channel: https://www.youtube.com/channel/UCgDaSaSQP0KLoVCgydDd9Hw

Buzzsprout: https://www.buzzsprout.com/1131344 






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Show Notes

If you enjoyed this episode, or are enjoying the Scalable REI show overall, show your support by buying the Scalable REI team a cup of coffee: https://www.buymeacoffee.com/scalablerei

In this episode Randy Hughes and I go into detail about what a land trust is, and why every real estate investor should be using one on virtually every deal. Randy has purchased over 200 houses and is currently in his 50th year of his real estate career. Over this time he has become an expert in everything land trusts, hence his nickname "Mr. Land Trust." Randy's primary goal today is to help people break the cycle of poverty by educating them on some of the best real estate investment practices, including how to protect your assets using land trusts.



Episode Highlights:

  • Nothing in this episode should be relied upon as legal advice.

  • Land trusts are your first line of defense for asset protection in that they provide privacy. However, you still need to make your LLC the beneficiary interest for legal protection.

  • Attorneys often charge $300 to $1,500 to set up a trust, but you can actually set up trusts yourself for free if you know what you’re doing.

  • Never put your properties in your own name or your LLC’s name. Even if it’s in your LLC’s name the owners of the LLC can be looked up, unless it’s a WY or NM LLC.

  • Revocable land trusts are considered pass-through entities by the IRS so you still get all of the same tax benefits that you would when not using a trust.


Helpful Links:

https://www.landtrustsmadesimple.com/

https://www.facebook.com/landtrustsmadesimple



Best Way to Contact Randy:

https://www.facebook.com/landtrustsmadesimple


Best way to contact your host, Mason Klement:

mason@masonklement.com

https://www.masonklement.com/

Be sure not to miss any future episodes by subscribing to the Scalable Real Estate Investing Podcast using the links below.

YouTube channel: https://www.youtube.com/channel/UCgDaSaSQP0KLoVCgydDd9Hw

Buzzsprout: https://www.buzzsprout.com/1131344