All Forum Posts by: Ryan Dula

thanks guys!

Hey guys,

Just wondering if anyone knows how to verify income for a tenant applicant that is older and says their only source of income is social security and VA benefits. Do you just take their workd for it or request proof of some sort? Thanks,

Ryan.

Hey guys!  I know its been a little while but I'm jumping back in to this land trust thing again and had another question.  Hopefully someone will see this and be able to answer.  I've been thinking about it and I am managing these properties myself so the tenants will know my name anyway.  I would like to present myself as the "property manager" and have them not know I am the actual owner.  Why can't I do a land trust with myself as the trustee and wife as the beneficiary just so if anyone looks it up I can tell them I am just managing the property on the side for a "friend" (the beneficiary) and they listed me as the trustee?  In other words it would be just like having the property management company be the trustee but I would be the property management company.  Then have a PO box listed for the LandTrust so they don't have my actual address.  Would this work?  I know a lawyer could figure it out anyway if they really wanted to either way but if I'm in the mix anyway managing the properties I don't see the difference.  Thanks in advance guys, any help would be greatly appreciated.

Ryan

Perfect, thanks Noe! How about if you own the property already and are about to pay it off? Can you transfer the deed at that point directly to a land trust? Thanks again for the response. Regards, Ryan

Hey guys! I have one property I manage myself and am getting ready to buy another. I heard or read some really good advice on here which was to tell your tenants you are a property manager and don't actually own the property. I've researched and found that it seems like Land Trusts are a good way to do this so the tenant can't find out you actually own the property. I've also heard you can close the property to a Land trust with Trustee of your choice and then after closing have them resign and you be the successor trustee but they stay on public record. Any idea if that is true? I'm trying not to involve the trustee as much as possible. Any help would be appreciated! Regards, Ryan.

Hey guys! I have one property I manage myself and am getting ready to buy another. I heard or read some really good advice on here which was to tell your tenants you are a property manager and don't actually own the property. My question is how to go about that. Do I start an LLC for property management to manage my own properties or just tell them I work for the owner? Can I sign the lease under my name but as a "property manager"? In other words can a property manager sign a lease for the owner? On a side note, if I did start an LLC property management company and signed the lease under that LLC, would it offer any protection to me as the owner? Sorry for the long question and I know most answers will probably be "ask a lawyer" but just wondering if anybody has experience. I'm in Florida by the way. Thanks! Ryan.

wow, thanks for all the great info guys, I had not heard of that strategy

Thanks Jill, really appreciate the warm welcome!

Thanks guys, great info!  I love the idea of being able to help someone out of a bad situation and get a good deal at the same time.  I wasn't quite sure exactly how that worked.

Hi all, newbie to the forums.  You all seem very knowledgeable and I'm happy to be here.  I would be happy to help anyone with the little knowledge I have.  I have been renting one unit for 6 years and I'm looking to expand.  

Can someone please help me out?  I'm interested in reaching out to pre-forclosure properties and helping the current owners out of their ordeal.  What is the advantage to the owner to sell at cheaper than market value?  How do people get these properties so cheap?  If the owner owes 50k and the property is worth 100k and they are behind on their payments, why can't they just put it at the market for 100k and sell it?  Even if they only got 90k for it they could still pay the loan off and have 40k left over.  Am I missing something?  I don't understand how people get stuck unless they owe way more than the property is worth.  In other words, how do you acquire properties under market value?  I just don't see why anyone (bank included) would let it go for under what you can get for it on the open market.  Sorry for the long question.  Thanks!

Ryan.