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Updated over 10 years ago, 09/07/2014

Account Closed
3
Votes |
6
Posts

How do you wholesale with a land trust?

Account Closed
Posted

My reasons: to have privacy and avoid as many costs, fees and taxes as possible; my idea was to get the seller to sign their property on a warranty deed to trustee (recorded) with me of course being the beneficial interest and the trustee being something else other than a LLc (since LLc's have to be seen as active in the system, be generating income, be taxed at the end of the year and me needing to use my real name and info. to set it up), then assign that property to an investor using the trust agreement (not recorded). Thing is the seller would have to agree to it and there be no money down required on the deal, since I don't have that upfront. As far as the title company, they'll be just for the escrow account and title search (no need for any closings) or can I just do that with a notary (can they provide escrow accounts or is it only title companies?). 

Another thing, who creates the warranty deed to trustee forms and how much will it cost me to get it done....or does someone have one I can use that's worked for them for deals in Dallas, TX

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