Kristi C.
LLC or trust?
4 March 2021 | 50 replies
The trust may hide the true owner, YOU, a little, but any good lawyer with a solid case against you will have no problem getting at you personally.The only trust I know of that does offer solid asset protection is an irrevocable trust, where you basically give away your property to somebody else.
Vladimir Gonzalez
Is illegal to pay referral fees to non realtors?
13 October 2020 | 105 replies
All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.
Stephen S.
How can I un-own a property ?
6 July 2019 | 118 replies
and maintain some level of control of designation of trustee as bene of your irrevocable trust : )
Edita D.
Protection of your personal assets: LLC or increase insurance?
27 November 2012 | 26 replies
Both ...We have a $2M Umbrella, and hold our prop's in a single LLCAs for non-revocable (irrevocable) Trust's -- I don't think I'd use one for Rentals.
Jeff S.
Old timer investors. Are you going to be one?
15 January 2013 | 47 replies
When it comes to trusts, I believe a successful investor should have revocable trusts, IRREVOCABLE trusts, and at least a GST.
Kurt Charles
RE wholesaling in Florida is highly illegal?
1 July 2018 | 150 replies
All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.And BTW, "most" wholesalers do Not buy the property if they can't find a buyer because they simply don't have the funds to do so.
Jermaine HILL
DRAFTING WHOLESAILING CONTRACT!!!??
24 November 2014 | 59 replies
This is typically done with an irrevocable letter of direction from the new Buyer to the Buyer's attorney or Escrow agent.This is all 100% legal, unless there is a provision in the agreement of purchase and sale that prohibits assignment.
Stephen Moore
HOW MANY UNITS DO U OWN
12 January 2010 | 26 replies
All my properties are owned in entities that "eventually" funnel into an Irrevocable Trust.
Lucas K.
Insurance for LLC in Grantor/Land Trust
22 May 2016 | 5 replies
WY has a statutory Trust and allows series trusts like series LLC's and our properties are owned by separate trusts irrevocable grantor trusts, All managed by the same trustee LLC and co-trustee Statutory Trust co and the insurance is made out to the trust whish has a blanket name and a letter for the series.
Patrick Philip
The basics of co-wholesaling
14 February 2017 | 24 replies
All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.