All Forum Posts by: Rich Johnson

Hey Steven,

Nice to meet you and thanks. You mentioned you did a few settlements with them, have you specifically closed Sub2 deals with them. I really appreciate your response.

Thanks!

Richard

Hi everyone.  I posted this in another forum (wasn't sure of the right place to put it)

I and my brother are looking into investing in Ocean City, MD using Sub2 and L/O deals. We are in PA.

Can anyone direct me to a Title Co or Attorney that has experience closing Sub2 transactions in Ocean City, MD.

Thanks for the direction really appreciate it.

Richard

Hello there. 

I and my brother are looking into investing in Ocean City, MD using Sub2 and L/O deals. We are in PA.

Can anyone direct me to a Title Co or Attorney that has experience closing Sub2 transactions in Ocean City, MD.

Thanks for the direction really appreciate it.

Richard

Thank you everyone.  Yes I too came across that article during my research.  That's why I want to find out on here how others are set up in Pennsylvania.

How about yourself Patrick (sorry if I asked that already)

Thanks all of you for the response. I guess I'm going to have to see an attorney then at some point.  Wish me luck :-)

Hello Patrick,

I live in Bethlehem PA and am just starting out.  I want to make sure I have my Privacy & Protection set up first.

Because of the way our state works, how do I set this up since they only do Business Trusts that incure Capital Gains Tax instead of a Land Trust?

How do you do this for your investments? If you don't mind me asking.

Thanks Sean,

I appreciate the info.  Still trying to figure this out.  Pennsylvania is a tricky state compared to others.

I know this is an old post, but if a property is purchased with an LLC...

• besides homeowners insurance is there any other insurance to get.
• If i purchased umbrella insurance and the home is in the LLC would it still protect my personal assets?

I guess I'm confused if its an LLC and someone gets hurt on the property... what kind of insurance would be needed to cover that and would it be under the LLC, me or an umbrella policy?

Thanks for any assistance

Hello. If I'm purchasing a home from a seller into a land trust and the land trust has an LLC as the trustee. Exactly how would the contract be signed

For example:

I buy a property that should go into mypropertytrust which has the Trustee listed as ABC LLC. and ABC LLC. is managed by John Smith.

How should the buyer be listed and their signature line?

I appreciate any feedback.  Thanks!

What if the property was deeded into a Land Trust with an LLC as beneficiary and trustee. The seller would be listed as the LLC owner. When the sell was complete the LLC would be updated to have the buyer as the new owner of the LLC.

Would that stop the transfer tax?