All Forum Posts by: Carlo C.

One common and recommended strategy is using a land trust to hold the title and the beneficiary is a LLC. E.g. Some pros use Virginia land trusts with Virginian trustees to hold titles and the beneficiaries are either Nevada or Wyoming LLCs or corporations. Your name will never show up in the public records. Creditors first need to "find" your trustee who is physically located in Virginia AND to find out who the beneficiary is THEN get to Nevada to sue the corporation. There're a lot clauses that you can use in the trust agreement to prevent your trustee to give you away. One technique is called "poison pill". There's a clause that can say if the trustee feels there's a chance of litigation against the beneficiary then the trustee needs to resign and pass the trust agreement to the successor trustee without saying a word. Also, you can find a local friend to serve as a trustee at the closing table then fire him or her right after and use a different person to serve as a trustee to hold title. The whole world including your lender will not know anything about. It's only between you and your trustee.

If your goal is mainly for asset protection, a single LLC that holds title is likely a bad idea particularly a single member LLC. Some states don't have charging order protection, liabilities can go straight to your personal assets.

Hi @Oren K.,

Thanks for the comments. When I asked for "good" agents / brokers, I meant someone has actually used them and had good experience with them. Then I will personally interview them. I think that would be more efficient than just beating up the bush and interview every one of them I could find from yellow pages of some sort.

Please feel free to share any good resources that you have used before. I'd appreciate it. I need every role that will be played in the game so not just agents or brokers.

Thanks,

Carlo

@Tom Ott: I'm looking to purchase and from there I also need to find some good property management companies.

Can anyone recommend any good apartment brokers in the Columbus area? That person needs to know every in-and-out of investing apartment or mixed used properties in the area.

Thanks,

Carlo

Can anyone recommend any good apartment brokers in the Cleveland area? That person needs to know every in-and-out of investing apartment or mixed used properties in the area.

Thanks,

Carlo

I found one that can do 80/20 but they don't allow seller carry back and 20% needs to be in your own skin. Also the loan needs to be recourse. Is it common to get recourse or non-recourse?

How do you guys hold titles? I know many people use LLCs or Corps to hold titles but they are not very safe, especially a single-member type. I'm just curious if there are any lenders that can close in, at least, living trusts with a different person as the trustee.

@Jered Sturm Thanks for the great advice!

@Account Closed I need to find a lender that can close a SFH in a land trust at the closing table with a Deed to Trustee from an individual seller to the trust.

Are there any lenders that can close SFH in land trusts? I know some of them can do living trusts but I have not found any lender that can do actual land trusts. I'm located in CA.

Thanks,

Carlo