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Equity Stripping & Real Estate Asset Protection - YouTube
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[Music]
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hello everyone and welcome to another
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episode of coffee with carl i am your
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host carl zellner one of the attorneys
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with anderson business advisors
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and today we're going to talk about
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equity stripping
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okay equity when we talk about equity
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most cases is going to refer to your
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real estate uh in this scenario whether
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it be your personal residence investment
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properties
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equity is the amount for those you don't
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know is the portion that if you sold the
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property at the estimated value what
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portion would come back to you as cash
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so whatever portion you own less
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whatever debt is on the property
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equity is one of the things that a
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plaintiff's attorney will look at if
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they're trying to sue you to see what
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they can get out of your property
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whether it's personal residence or
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investment properties differentiator
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between personal residents and
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investment properties is that personal
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residences are generally have some level
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of equity protection from the homestead
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laws in your state
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ranging from next to nothing
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to say a state like texas where it's
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unlimited homestead exemption
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but what's nice about equity stripping
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is that you can make your property
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whether it's individual residents or
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your investment property
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look less attractive to potential
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creditors
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by making that equity disappear which we
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term as equity stripping
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for those of you who are already clients
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of anderson advisors
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and say platinum and that are platinum
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clients there is actually an equity
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stripping kit
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in our platinum portal for you to use
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which takes you through the whole
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scenario has all the documentation
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you'll need uh really the only thing you
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have left to do is then file it at your
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county office
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and it'll show up and on the property so
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what is equity stripping when it comes
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to real estate ultimately we look at it
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as almost the same thing as a mortgage
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or a deed of trust mortgages and deeds
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of trust are simply liens on the
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property which makes the property look
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encumbered
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now
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when it comes to equity stripping
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there's a couple different routes you
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can go number one is if you do have
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equity in the property and you do
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actually want to access the cash in that
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property you can always go the heloc
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route or cash out refi route and
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actually have the bank strip the equity
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by paying
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you money to secure the equity in the
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property
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the other route is if you don't want to
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necessarily work through a bank or don't
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necessarily want to access those funds
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or the equity in your property you can
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always file what's called a friendly
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lien against your property meaning say
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for my uh say if i have rental property
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and i have a hundred thousand dollars in
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equity
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i can actually go down to the county
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recorder's office and file a lien
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against my own property that would
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remove that equity meaning
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there would be loan documents and it
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would say
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say it's an 80 000 loan i would file a
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lien against the property for 80 000 so
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it works just like your mortgage
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except within your own entity structure
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you can actually act as your own lender
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and you can actually strip that equity
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from the property so if somebody just
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pulls a title report to see what you own
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or see what kind of equities in the
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property it looks like
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it's already being claimed or leaned by
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another creditor and they would have to
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if say we're talking about getting sued
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they would actually step behind
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that current creditor so when you take
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the equity out of a property it looks
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like a much less valuable asset to a
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potential plaintiff's attorney
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one caveat here is is if you're going to
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put a friendly lien on your property
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and
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you're not planning for money to change
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hands when that tr in that transaction
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that
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lien can be is most likely going to be
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set aside if somebody still sues you and
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tries to get to that property
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so this is more of a smoke screen sort
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of strategy in that if it's just a
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cursory overview or somebody's taking a
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look from the outside the property looks
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encumbered and not attractive
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so it doesn't it's kind of like saying
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there's an attorney that's going to be
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going after a pot of gold at the end of
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a rainbow they can't see
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in most cases that's enough to be termed
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as what we call sort of attorney be gone
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and then if there's nothing to gain then
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there's not a whole lot of reason for
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the attorney to come after you since
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there's a huge difference
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in the legal realm between getting a
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judgment and collecting on that judgment
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so this is what we refer to as equity
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stripping
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there's lots of different ways you can
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do it for the most part though like i
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said for our current clients there is a
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whole packet for you within the platinum
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portal for those who are not clients and
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maybe want some more information on it
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please feel free to contact us you're
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always encouraged to have your free
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consultation we'd also encourage you to
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come to any of our in-person classes
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as well as please keep taking advantage
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of our free content we love educating
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the public we want everybody to have the
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information so that you don't
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unintentionally walk yourself into a
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situation out there because there are
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lots of situations to walk into
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and and
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quite frankly we like giving back so we
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like to educate
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uh so for this episode signing off this
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is this is carl zoner with anderson
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advisors thanks for joining me with this
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episode of coffee with carl
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[Music]
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