Posted by Allan on July 14, 2008 at 16:11:32:
Thanks for the info, I appreciate it…
Trusts & Land Trusts - Posted by Allan
Posted by Allan on May 28, 2008 at 17:59:39:
As a novice investor and wholesale flipper in CA, I was wondering how and which would be the best way to hold my investment properties and protect my assets? What’s the pros and cons? I also want to start using a Land Trusts ( is this a sub-trusts??)for assignment purposes, I’m currently in research for a lawyer or a do-it yourself kit(bronchick’s) that could possibly help me set this up, I welcome any advice.
Trust me here re T & LT resources - Posted by John Merchant
Posted by John Merchant on July 14, 2008 at 16:01:05:
Yes, Bill Bronchik does have material on trust formation and use and having read a fair portion of it, I’m confident it’s all quite good.
Bill B isn’t known for doing things half-way. He’s a good lawyer and student and isn’t just trying to sell whatever looks good.
Also if you’ll search archives here you’ll find a great deal on LTs and their use in achieving a level of anonymity and legally avoiding DOS problems by your lenders.*
Some other names to look for here and on other RE forums re trusts and LTs are Bill Gatten and Thomas Standen and posts and answers they’ve given.
All 3, Bill B, Bill G and Tom S have been involved with and studying and writing and talking about T and LT use for many years and they’re all quite knowledgeable.
For good CA lawyers on T & LT use I’d ask these guys for CA referrals as they likely do know the territory.
A statement you’ll find frequently is that few lawyers know or seem interested in T or LT use by clients and one I agree with.
Few lawyers have enough T or LT practice to really study their use and they can’t justify the time it would take them to do an in-depth study.
*And for TX REIs wanting to buy then sell SFRS in TX, the LT is one of the best ways to go as w the LT, the REI isn’t taking a deed today and giving a new deed tomorrow so he’s not even close to violating that egregious, poorly written and over-killing state law.