Tax Lien vs. Tax Deed Investing: Wyoming LLC Strategies
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In this riveting video from Clint Coons Esq., the man himself delves into the thrilling world of tax lien versus tax deed investing entities. Tax liens, he explains, involve snagging certificates without immediate property ownership, while tax deeds grant you the exhilarating title to the property itself. To navigate these treacherous waters, Coons recommends the trusty Wyoming LLC, a stalwart companion offering ease, cost-effectiveness, and the cloak of anonymity across the vast expanse of all 50 states.
For the daring souls venturing into tax lien territory, Coons suggests corralling all your certificates under one Wyoming LLC roof, shielding you from the storm of potential lawsuits. But beware, for tax deeds demand a different strategy - separate Wyoming LLCs for each property to fend off the lurking dangers of property ownership risks. Once you've secured your tax liens, the decision looms: will you hold onto them for the long haul, or will you take the plunge into the thrilling world of property flipping?
To navigate these perilous waters, Coons advises setting up a holding LLC for the steadfast long-term holds or a daring C Corp LLC for the adrenaline-fueled flips, evading the dreaded dealer status that could spell disaster for your real estate dreams. Wyoming, with its simplicity and flexibility, emerges as the hero of this tale, offering a solid foundation for your tax lien and tax deed adventures. So buckle up, grab your popcorn, and join Coons on this wild ride through the twists and turns of real estate investing, where the stakes are high, the risks are real, and the rewards are oh so sweet.
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Image copyright Youtube
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Watch How To Invest In Tax Liens & Deeds With LLCs (Minimize TAXES) on Youtube
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Discussion on holding LLC and state Subsidiary LLC's for regular rentals
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