Subject to example - Posted by Mike-GA

Posted by JB on August 20, 2001 at 15:45:02:

In Georgia, a corporation cannot be a trustee. I have the seller deed the house into a land trust with my corporation as the beneficiary and a “financial friend” as my trustee. Look up Louis Brown’s materials at Georgia REIA.

Subject to example - Posted by Mike-GA

Posted by Mike-GA on August 18, 2001 at 16:58:57:

Will anyone out there give me an example of a buying “subject to” deal. I have heard about buying real estate like this but am not sure on how it works.

Thanks.

Re: Subject to example - Posted by alex

Posted by alex on August 18, 2001 at 21:41:48:

"Subject to " is when you get a motivated seller to deed their property over to you subject to you taking over their mortgage payments. Then you putting it into a trust with you being the trustee. You need a real motivated seller, deviorce, little equity, need to move quick or have late payment in the rear, etc. If I was you I would sreach the archives for feather information. Go to www.getthedeed.com, its a website that deals with getting the deed “Subject To”

Alex

Re: Subject to example - Posted by Tom – IN

Posted by Tom – IN on August 18, 2001 at 23:26:34:

No, do not list yourself as trustee, reather someone you trust, but with a different last name.

Re: Subject to example - Posted by alex

Posted by alex on August 19, 2001 at 09:53:28:

Yes your right, I meant you should put into a trust with you being a corp. or another person as trustee. It would be best with someone you can trust. LOL

Alex

Re: Subject to example - Posted by Mike-GA

Posted by Mike-GA on August 18, 2001 at 23:46:04:

what if I list my comapany as trustee?