All Forum Posts by: Account Closed

I live out of state from where I invest.  Also, I have a great GC that I trust implicitly.  

Any savings I might be able to make would be offset by the travel cost for me plus to be honest he's more likely to get things done right. 

So here's something that sets Tristam apart... She's on holidays but still answers emails and she put an offer on a home for me on Christmas day. I felt bad that she responded because I really respect her time and done like to interfere with her time off - but WOW! 

I don't know anyone that cares more about her clients and gets the extra 1000 miles to help them. 

She is awesome!!! 

Thank you Ed and Wayne. Much appreciated.  

Ed - so this basically means that the trust structure is more or less irrelevant in Ohio from an anonymity point of view. What you are really relying on is common names of out of state trustees.  

Or alternatively, have an llc take ownership.  Is that correct? 

With the LLC how do you keep anonymity as the members of the LLC are public record?

The way I intended to structure things is having a trust take title, a LLC is 100% beneficiary owner of that trust. Then a family limited partnership is the 100% owner of the LLC.

Hopefully that helps clarify the structure.  

Thanks very much 

Rudi 

thanks Robert that's awesome. I can always pay to have the title done by another company after the fact if need be. As it's in a land trust it's relatively straight forward. 

Important piece is for the person to know how to list it correctly with the county. 

Look forward to getting the details. 

Many thanks 

Rudi 

Hi there

I'm hoping to tap into the collective wisdom here to help me solve a title issue. 

I've purchased 4 Homes all in Columbus. One has closed and title hasn't been taken properly.. The others seems like they will be problematic also. 

I'm buying / taking title in a land trust and for whatever reason the title companies seem to really struggle with the concept. 

On the one I closed on, the title company eventually did it the way I request and then when we checked the Franklin County auditors site the name there is simply the trustee's name. 

Instead of listing the trust name, it just has his name. This completely defeats the point as my trustee will be listed as an owner rather than tj trust name. As he is in a number of properties this makes the asset protection strategy of obscuring ownership pointless. 

The trust name on title is 'the 123 main street Columbus Ohio Franklin County Trust, ABC xyz as trustee' 

I used a long naming convention in the hope the trustee name being at the end would be truncated or cut off. Thereby making it even harder to search for the title. 

Anyway, I'm a bit stuck. Im new to this stuff but am confident of the structure and why it's wise to buy this way. I do need some help please on how to ensure the county at least lists some more info / trust name. 

Any help would be much appreciated especially from those that buy in Columbus, OH. 

Many thanks! 

Rudi 

The question isn't about investing in real estate. 

The question is about wholesaling and flipping etc. 

That's considered earned income rather than passive income. 

He can invest and get rentals. He can't buy, rehab and sell for profit consistently.  That's considered running a business. 

He can do 1 or 2 and argue he got it as an investor and changes his mind or something like that but not if he does it consistently.  

Hey Mike 

I've settled on Columbus.  

I was looking in Cleveland but their point of sale inspections spooked me and I didn't want to have to deal with that. 

The bank I use is Legacy Bank in Pueblo - Mark Magnone.  

He's awesome ! 

So for those skeptics reading this, yea my post was a shameless plug because let's face it - I belive in Tristam.  

The fact you have other people and especially agents echoing the praise is pretty good confirmation of what's been written.  

Tristam is a star! 

Thank you sir!

I'm going to keep the trust as the listed insured and then llc and me as additional.  

Appreciate the clarification 

thanks Jeremy! What is a loss payee? I would have thought the llc was the beneficiary?

The reason I ask about being named personally on the policy is that I read somewhere that it could make you liable in some way. It may be wrong and I don't have the post to review. Just something that triggered my thinking. 

There's not that much info online regarding this surprisingly.