My First Trust!

[Daniel Ahern]

I just finished writing up the rough draft of my first trust (LHT - Land Holding Trust).  It's being reviewed and edited by my teacher so not executed yet but feels really great!  I'm so proud of myself LOL

It's really cool seeing the potential of it.  Using for Equity Buy Outs, group funded deals, etc.  Also great for asset protection and privacy.  Well, there ya go!  Wanted to share a hard fought short victory with ya's.

[Daniel Ahern]

@Tony SanFilippo The current trust - I'm mostly creating for privacy & asset protection.  Also for practice as I'm planning on making several purchases this year and would like all the properties to be placed into trusts.  The Equity Buyout option is more down the road for when I'm a RE ninja... it's all in place and ready to go.  So basically, I'm building the foundation to be more protected and to be able to make more moves in the future. 

I'll be creating a 2nd trust shortly for a home I will be selling.  One of the bigger reasons for that is related to California's 3.3% withholding tax.  I might possibly transfer title to a partnership that is exempt from this 3.3% tax.  Could actually save as much as $40K!!  Here's some details on that:

http://www.foreclosureforum.com/articles/0301withholding.html