Rational is it promotes additional housing.  

The good about having this in one thread: all the deadbeats could be readily found.The not so good about it being in one thread: the thread could get really large and unusable (recall the thread for "promote your buyer's list" that used to be, but ended up getting locked); depends on how many deadbeats BP has, and how many people actually want to do something to cause the bad behavior to stop.

I had just gotten a big promotion and the promise of another, so we bought it with the idea of renovating (it's a little bit of a fixer-upper, not much) to either "flip" or rent out once we did the work and refinanced and paid down some principle to gain equity and lower the payments.

An ambitious IRS agent can go find money by reading forums like this one.Yes, he will be in line for a BIG promotion for finding a guy who mowed his lawn.

I find it hard to believe anyone would invest funds like this in a start up, with no track record and allow the promoter to take a $6K per month draw out of their capital.

I agree with the others.I had tenants for various reasons had to terminate their lease early, among them: loss of job and have to move home to mom, a bad cop caught in a corruption sting, a big promotion with a big increase, and one who got an unexpected promotion three months after she moved in.

The interest portion you pay each month is simply the outstanding balance at that moment times 1/12th of the annual interest rate....exactly the same way a heloc is calculated.The savings boil down to paying extra on the mortgage balance, which decreases the interest owed each month, thus increasing the portion of the fixed payment that goes goes toward principal (“moving ahead in the amortization schedule”).....it doesn’t really matter if you pay the loan down directly or use a heloc to do it and then pay that heloc back.....it’s still the same “extra” money out of your pocket.One of the staunchest promoters of this, pitched mostly by the Renautus guys, finally admitted the result is the same, it’s just that you have a heloc available for emergencies/unexpected expenses.  

I am to small to use it, tho for my brethren and sistren with mondo big properties, I think this is wicked slick.and before the modddds flag this for self promotion. . .I WISH I came up with something this slick, no affiliation with the innovators.Hope this helps, and if you have used this, please chime in.Im not big enough to use this, more just passing innovative on to benefit my BP peeps!

Most do not say that in most areas a land trust is not asset protection in the sense that is is a separate entity from you.Bill Gatten is probably the worst promoter of land trusts.

They are paying $650/month in rent, and have been paying and paying on time since their lease began in July of this year.I was skeptical about buying a home with tenants already placed, however, the immediate cashflow and the condition of the home was enticing.