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Updated almost 9 years ago,
How does Dodd Frank affect a Land Trust that owner finances?
I have been reading bigger pockets for years. Joined the site a couple of years ago and then never really posted. I own 10 single family rentals now since joining and a lot of my knowledge has come from those of you that post and respond regularly so THANK YOU.
Well I've been approached by several investors who are ignorant of Dodd Frank or are choosing to fly under the radar. I'm not really wanting to do anything other than be legal and ethical, and certainly not ignorant. Owner financing seems to be a great strategy to turn over a couple of properties I don't want to hold indefinitely or a property that is a longer commute than I want to go for a leaky toilet. Obviously if the property is being "purchased" not rented there is some management headache that could be avoided in theory.
That being said it seems that one strategy to avoid a lot of the more stringent requirements of Dodd Frank according to this article is to use a trust and only do one a year per trust. Does anyone have any experience or better understanding of this?
http://www.natlawreview.com/article/seller-financi...
Thanks for your time to reply with your expertise.