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Updated over 7 years ago on . Most recent reply
First deal in progress nervous!
Hello,
I'm new to the real estate investing business but very excited to finally get started.
I'm looking to buy a home in Houston Tx to use as a rental property. (I reside in CA)
I have a few questions;
1. If the deal finalizes when I'm about to close do I first have the property under my name?
I've been told that this is how the flow should go;
A. Buy under your name
B. At escrow/title company put property under a land trust.
C. Then transfer to a LLC in state you reside. ( my case CA)
D. Then put in a secondary LLC
E. Then to a Family Limited Partnership
F. Then finally put in a trust
This was also mentioned to me if I owned multiple properties but another question I have is that if I should follow this model from the beginning?
Thank you in advance for all your help!
Most Popular Reply
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No. Don't do this. Talk to an attorney. If the attorney tells you to do this, talk to a different attorney. Before you act, run the proposed structure by your CPA.