i’ve been reading through the posts on the forums, and i came to this conclusion:
here is my plan:
I should not buy the house in my own name.
I should make an LLC and have it taxed as an S-Corp.
then every house I buy should go in a seperate land trust.
the LLC would be the beneficiary of these land trusts.
is this a good plan? any better ones?
why put the houses in seperate LLC-s if i can put them in seperate land trusts instead?
thanks.
Each home you buy would be put into their own Land Trust. 1 home to 1 land trust
Then 5 land trusts to one holding LLC. 5 holding LLCs to 1 Managing LLC. You are only an employee of the managing LLC.
There is another method that would cost about the same but not as complicated from what I’ve read on it. http://www.coveryourassets.biz/
Looks like this method is catching on since I’ve heard of other gurus talking about it in their assetprotection course. You would use the method that best suits your needs for protection, tax advantages and cost effectiveness.