Re: And every time someone challenges - Posted by John Little
Posted by John Little on April 05, 2011 at 10:08:24:
We are talking apples and oranges. Asset protection refers to title and
anonymity. A slip and fall is covered under homeowners insurance. You
must be all ears – so was Dumbo!
Re: The problem with any trust is that… - Posted by John Hyre
Posted by John Hyre on April 07, 2011 at 14:22:13:
I wasn’t really looking for a pi$$ing match…but I think you missed the part about me not agreeing with BG on an awful lot, including much of what you have penned above. And your description does not impress people - it confuses the hell out of most of them, which brings me back to benefits vs costs - the comparative benefit of what you describe above had better be very bloody large to justify reading and comprehending what you just wrote and all that underlies it…not to mention the risk of a court not understanding it either and doing what confused minds normally do. Costs vs benefits…I could go on (and have, years ago here), but I lack the desire to revisit the brain damage. Talk to your leader before writing more. I intended to comment on trust schemes in general, included but not limited to, certain land trust schemes, and not with any real desire to reference BG et al. I did not intend to get into a PAC/NARS trust discussion - and I do not think BG would be looking for the same with me. Let it be.
Next time I say I like certain things about someone but disagree with him, I would take as an invitation to not engage. Drop it.
John Hyre
Sounds more like my group; Moonies - Posted by Sun Myung Moon
Posted by Sun Myung Moon on April 06, 2011 at 11:55:14:
The Moonies, following me blindly and touting my beliefs. Hey, what is all this talk about EHT’s; could I be missing out on an angle here. Maybe I can convert the other cult member of this EHT group into my following. You know what they say; if you have been had ONCE, you can be HAD again, and they look like easy marks to me.
Peace Brothers and Sisters.
SMM
For that that might be too young to catch the above description:
Re: The problem with any trust is that… - Posted by John Dockter
Posted by John Dockter on April 06, 2011 at 11:37:59:
I’ll give you a personal example. I purchased a home using his EHT,
where the owner placed it in trust and I became the RB. I bought him
out according to the terms of the Beneficiary Agreement and lived in
the property. Then I brought in my own co-beneficiary who became
my RB after I relocated. After one year, he bought out my share. My
profit was $210,000. All paperwork was letter perfect as reviewed by
my RB’s attorney. The documentation was provided in a timely fashion
and included accounting and legal review. This scenario has been
repeated many times, not always with such a profit as times have
changed, but the professionalism displayed by BG and his company are
what impressed me and I’m sure many of the other users of his system.
I am amused at the level of animosity displayed on this forum by many
who really appear to have a negative agenda and don’t seem to be
educated as to the specifics. Have a nice day.
Re: And every time someone challenges - Posted by AmotoXracer
Posted by AmotoXracer on April 06, 2011 at 13:47:48:
I am glad you posted
“Asset protection refers to title and anonymity”
For all to see…
Re: The problem with any trust is that… - Posted by John Dockter
Posted by John Dockter on April 07, 2011 at 16:28:21:
It may be that it just confuses the hell out of you, John. I have no leader. That’s a snippy little comment, and very juvenile. Let’s take it one step at a time. You frequently comment disparagingly about land trusts. Your ilk speaks further badly about the EHT.
Use a little common sense. A land trust has been around for hundreds of years. My friend just combined it with a Triple Net Lease (I hope you know what that is), plus a few other documents that cover virtually any eventuality and make the EHT as close to foolproof as possible.
Although you may have trouble understanding it, rest assured that courts don’t and for that reason nobody I know of has ever lost a court case using the EHT. In fact, they rarely get that far. Now I’ll drop it.
Re: Sounds more like my group; Moonies - Posted by John Dockter
Posted by John Dockter on April 06, 2011 at 13:36:11:
You sir, are a rude and arrogant ass whose attitude is exactly why BG’s
followers get so irate. You are clueless obviously, and your comments are
childish and immature. Go moon someone else.
Re: The problem with any trust is that… - Posted by AmotoXracer
Posted by AmotoXracer on April 06, 2011 at 13:43:17:
Please explain how using a trust is more profitable than just buying the property and holding title in an LLC or even your own name; then reselling it to whoever.
But where’s the test - Posted by Kristine-Ca
Posted by Kristine-Ca on April 06, 2011 at 11:56:43:
Thank you for the example. I don’t think anyone here is concerned
about letter perfect paperwork. I generate that every day, if I do say so
myself. Or attorney review. Any one can pay for that. What everyone
is interested in is how the EHT serves in adverse situations. Does it
protect? How does it hold up in liability cases? Can the trust be
penetrated? What happens when the co bene doesn’t’/won’t perform?
Or changes their mind? You know, the real stuff that problem RE is
made out of?
All paperwork is only as good as its test. That’s what I mean by a
brilliant example or case law. And this is where I think the loyal need
to step up and make sense.
Re: And every time someone challenges - Posted by Kristine-CA
Posted by Kristine-CA on April 06, 2011 at 15:33:53:
You called it. Title and anonymity? Important issues, but not exactly
“asset protection”.
Ah, yes, the court cases… - Posted by Kristine-Ca
Posted by Kristine-Ca on April 07, 2011 at 19:44:32:
You say nobody you know of ever lost a court case … is it because
you don’t know of any actual cases?
Did you not say previously in this thread, in answer to me, that you
and your investor friend/members have never had any of the issues I
mentioned? And that was the reason you couldn’t provide a court case
or example for your particular trust scheme?
I’m not saying this for you to research court cases for an answer, but
rather to think before making broad statements that can’t be
supported. If there are court cases where the EHT prevails and does
the magic that you all say it does, I want to read about them. And so a
few other people here.
No one is saying the EHT or other title holding trusts can be the right
thing at the right time. We are just saying stop insisting on its
protective properties if you don’t know that they actually work…in
court.
It always boils down to this with people who make broad, sweeping
statements on these message boards. Case law, or research even, is
never their strong suit. Nor should it be. We’re investors after all. But
then tone down the facts about court cases until you quote some.
Re: The problem with any trust is that… - Posted by Kristine-CA
Posted by Kristine-CA on April 06, 2011 at 15:30:58:
It might be hard to sell a course and form a membership club if all you
are selling is “old school” buy and sell. There has to be some
motivational and support aspect to BG and club.
Creative REI is a funny world. In the 90s I was an assistant to two multi
multi millionaires who made even more money on a few REI deals and
are now retired, in their 50s. They never bought and held, they were
never landlords. They were creative though and could solve problems
that others couldn’t. There were lots of LLCs, lots of liability policies,
lots of lawyers, and lots of lenders and investors. And LOTS of CPAs.
There were no land trusts or title holding trusts. What was creative
was seeing yes where others saw no. They didn’t need any special
entity in which to buy and sell. Pretty old school.
Re: But where’s the test - Posted by John Dockter
Posted by John Dockter on April 06, 2011 at 12:47:16:
I agree completely. However, I have been a member for 12 years and know at least two dozen other members either personally or via the Internet. Not one of us has experienced the negative problems you portray. I did have a co-beneficiary that didn’t perform. The Beneficiary Agreement covered that eventuality to a tee, and I was able to replace him with another with very little trouble. The “real stuff” I am fully familiar with having advocated lease options for the decade prior. Now THAT was a source of problems. In my experience they don’t seem to exist with the EHT. Just my experience…
I wish you would tell people that - Posted by David Krulac
Posted by David Krulac on April 06, 2011 at 19:09:03:
I’m a multimillionaire AND that I’m retired!
Re: But where’s the test - Posted by Kristine-CA
Posted by Kristine-CA on April 06, 2011 at 14:44:52:
The EHT might be a perfect, but it’s only as good as it’s test. It’s great
that you and the members have never had any problems. But the point
of using an EHT or other such land trust can only be good for privacy
and title holding issues…if you all have never been sued and proven
it’s other amazing protective powers.
I’ve done 30 deals in my own name, never had a problem, 10 in various
my corp names. Write my own contracts, etc. That doesn’t make it a
good system…I’ve just never yet had a problem. I say show me how,
and show me where, you have proof that the EHT does what you all say
it does when there’s a problem.