All Forum Posts by: Jack Shea

Rita, The trust class is all day April 14. It is taught by Atty. Mark Warda and me.

You get Mark Warda's Florida land trust book and forms CD. People will fill out a deed and a trust in class and be capable of forming their own trusts in the future. We talked about many asset protection and investment strategies that are not in the book.

I will do document review of your deeds and trusts in the future and answer any questions. We also discuss personal property trusts and an IRA checkbook control trust.

The second day is a lease options class, with book and forms.

Details and sign-ups are available on my website: www.Jack Shea real estate.com

Attorney and author Mark Warda and longtime investor Jack Shea conduct this all day

class covering Land trusts, Personal property trusts, and IRA checkbook trusts.

The class has eight hours of continuing Ed credit for realtors and CPAs.

The attendees get Mark Warda's 235 page LandTrust book and forms CD. They will be able to complete trusts for themselves after the class.

On the second day Jack Shea teaches an Options and Advanced Strategies class.

Students receive the 180+ page options book and forms CD. This is the only seminar in the US that shows you how to control real and personal property, using proven documents that produce more profit and no risk. They are taught how to find and finance properties without banks, paying less tax, receiving more profit from option and 1031 exchange strategies. Other topics include: 1) be a lender without the need to foreclose. 2) Option loans, avoid usury, change your tax year, defer capital gains and 3) how to supercharge your IRA with options. 4) How to get tax benefits without ownership.

You may do with 1031 exchange if you have owned the property for one year.

The replacement properties must have the same amount of debt as was paid off at the closing or you will pay tax on any shortfall. When a buyer pays off your mortgage it is considered debt relief and is taxable unless it is on the new property. It can be subject to debt, seller financed debt, or new institutional debt.

The property manager signs the lease, three-day notices, evictions etc.

The trustee never signs any business related documents. The beneficiary could be the manager, an LLC, sole proprietorship or whatever you choose. That person collects the rents, pays the bills and disperses the excess as directed.

We use a few lenders for the same loan. There is one first mortgage or deed of trust and several "Equal Dignity Notes". Everybody is in first position.

Good plan. Small, secured loans can make good returns for your IRA. A checkbook trust would be a good tool to use since there are no LLC fees. You would be able to make loans immediately and have all the proceeds go to your corner bank, ready to be reinvested without the cost or delay of going through the custodian. I have been doing it that way for over 13 years and so have many hundreds of other investors.

A Checkbook Control Trust would solve the problem. You set that up with your custodian and your trustee, an independent and unrelated person who signs your checks. Your IRA is the beneficiary of the trust. The trustee sets up a bank account in your corner bank. The custodian transfers all of your funds to that bank account. You can buy at auctions, nights and weekends with no cost or delay of going through the custodian. All rents, note payments, flip proceeds etc. go to your corner bank, not the custodian. I have been using this process for over 13 years and thousands of other investors also use it. There is no LLC, annual fees, annual reports, costly operating agreement, registered agent or public record of the Trust. It costs less than $300.

A Checkbook control account is essential for an active investor. You only pay one annual fee, about $300 from most custodians. You do not have the cost for checks and the delay of going through the custodian. Better yet, all rents, note payments, flip proceeds, etc. go to your corner bank and not back to the custodian. You can reinvest the funds rapidly. A Checkbook Trust is much less expensive, does not have annual reports, annual fees, not on public records, no registered agent. It costs about $300. The checkbook LLC's cost $1000 or more, plus continuing fees.

Loans are a great way to turbocharge an IRA. Small hard money loans can be secured by cars, boats, etc. The best method is a checkbook IRA that can make loans on weekends, nights or any time without the cost or delay of going through the custodian.

Better yet, all note payments, rents, flip proceeds go to your corner bank, not the custodian. They can be reinvested rapidly.

The best solution is an IRA checkbook trust. Thousands of people use it. I've been using it for over 13 years. Most custodians coast to coast approve it. You pay one annual fee, about $300. The custodian buys the beneficial interest of the trust, which is in your corner bank. No LLC, expensive set up, annual fees, annual reports or registered agent.

All rent and note payments go to your corner bank and are ready to be reinvested rapidly, without the cost or delay of going through the custodian. Google "IRA checkbook trust" for details