All Forum Posts by: Account Closed

Because of using your real name and other info. to form an LLC and it being recorded in the system so the government will know you're doing some type of business and tax you accordingly, I feel that having a land trust will not matter on keeping your assets private. Example: if ever sued and your assets are in a land trust by an LLC, your real name and other info. can be easily searched in the system to see who owns the land trust by searching the info. created to form the LLC that the land trust is under. So is it possible to use a land trust to form an LLC so as to not use my real name and info. basically the LLC will be under the land trust and not the land trust under the LLC, simply switching it up. I'm not doing this to completely avoid taxes, it's just to keep as much of my personal info. off the grid or system as I can without breaking any laws. Hopefully this is not confusing, thanks for you're help.

sorry, forgot to mention about the money part, the seller will get their asking price during closing from escrow and the end buyer will provide it before i assign the trust over to him. all partied will get what there suppose to out of the deal, its just trying to avoid all the costs through a title company that comes with it ( eventhough the end buyer would mostly be responsible for that, but still it might require a little bit of funds from me and i wouldn't have that). Sorry again for not mentioning the money part, no shady buisness intended, just wanted to know if this would work on avoiding a lot of fees and taxes while providing privacy on my part untill i assign it over.

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

Thanks Jason but I've heard that bird-dogging in Texas is illegal and after finding out that putting a house under contract separates the difference between bird-dogging and wholesaling. I thought of just putting a option to purchase agreement on a property and then assign it to a end buyer for a assignment fee (but wait..........I need money down in order to do the option to purchase don't I ?).....dang it loool, I think bird dogging might be my only option then...unless you know some other way. I don't want to mess with loans or the bank for help, don't have any credit anyway if I tried. loool

I barely get $300 from my job bi-weekly and every-time I do get paid most of it goes to re-supply or paying bills. Thankfully I have 1yr. rent saved up but my 2 bills take up most of my check leaving me with waiting another two weeks. I live as low as I can below my means and it always seems like my expenses is right under my paycheck lool. I came across a couple of homes close by me for sale but there protected by a Realtor, also I have no car or bike to get around (it's the bus all the way). Ok lets stop sounding to poor here lool. I've come across a couple of people on here that I would like to learn from, my plan or Idea is to own a home based business that part of invest in real estate, such as renting out a place to generate cash flow and also having some stock in REIT and other business as DRIPS, there's more to it but I'll be brief for now. Seeing though that there are so many laws webbed around investing and wholesaling i'm wondering how can I even start lool. i'm information overloaded and wanted to know how can you wholesale a property with no money down (since I don't have any lool). Also do I need to be a licensed Realtor and or broker to do this, I want to be an investor..............oops! let me correct myself I'm a new Investor and read that wholesaling is like doing what a broker does and it's illegal in Texas if not licensed. So how can it work?