Posted by Jim Pasquini on June 19, 2001 at 23:09:27:
A $13.95 book is not the answer to your needs nor what is stopping you from doing a PACTrust on this house or any other. What you ought to do is call (it is free after all) and say you have a house you want to sell on a PACTrust. You wouldn’t be the first person that got that kind of help. We’ve gone so far for some as to take the incoming ad calls on our toll free line to get their property sold.
If you really think lacking the book is what ails you word from the publisher is it will be here on Monday.
I have a property that is worth almost $500,000 that I no longer want to be a landlord of. Would you lease/option this the same way as a $100,000 property?
I would like to finance to someone , but I would also like to be cashed out in 2 years. How would you set something like this up?
Thanks, Matt
Posted by Jim Pasquini on June 16, 2001 at 24:19:37:
When are folks going to quit fighting the PACTrust, especially on high dollar properties?
Can you imagine someone purchasing a $500,000 house and not getting the tax write off? For these folks you are asking them to pay nearly twice as much as they have to for a place to live.
Set it up on a two year PACTrust agreement. Get cashed out when the trust matures. Your monthly payment from your resident will always be in place in advance. If you are really smooth you’ll share the appreciation and equity buildup with them over those two years. No worries of foreclosure. You evict if they don’t pay. They can’t claim equitable interest. (OK, they can claim anything you want but they can’t get anywhere with it) Understand that someone that thinks they live in that tax bracket is far more likely to litigate if things go south. Protect yourself up front.
Work with me here, people. Don’t make me go find a whole 'nother crop of dancers!
I ordered the book on Pac trusts recently and was told I had to wait for it to come in from the printer. I read that someone else on this board said they ordered it 3 months ago and still don’t have it. I would love to “work with you” but don’t know how.
