Land Trusts

[Craig Curelop]

Hi,

I recently went to a real estate meetup where a gentleman came in and gave a 90-minute presentation on why we should protect our properties with a land trust. Essentially he advised that each property should have its own land trust and the beneficiary should be the LLC that I (or the investor) own 100% of.

Does anyone have any experience utilizing land trusts when purchasing properties? If so, I'd like to hear some of the drawbacks as the gentleman presenting only responded with its additional paperwork when I asked him about the drawbacks. 

Also, it seems like each trust must have a trustee assigned. By my understanding a trustee acts as the legal owner of the trust's assets and handles all of the assets held in the trust which seems like a lot of work. Is there any scenario where I could ask someone (maybe a friend or family member) to be my trustee and not have to pay them? 

Thanks!

Craig