But we borrow $ using trusts and LLC's all the time.The reality is, even if you have it in your name, just long enough for the financing to stick and then move it into a trust, you have created the entire trail anyone would need to connect the dots and subpoena disclosure of the trust beneficiaries.I encourage anyone using the strategy Kris describes to make sure you have competent legal counsel who is very familiar with your investing strategy.

If there is a must do checklist/guideline to follow for having a succesful purchase I would love to hear about it or like I said what do you do personaly to prepare.

Hi All.

I'm a newbie that is in the stages of buying his first property.

What sort of operations work needs to be done?

* I assume registering an LLC. I'll meet up with a layer for this. Is LLC gen...

You can negotiate and get them down much further than that.When I did residential years ago I used to help people with credit issues.No legal advice.

Is this approach legal/possible?

Now you have a legally enforceable interest in the sale and everyone gets paid.

Bill Gulley Regarding "I've never heard of it costing more per person" in NC that is true with the legal complaint filing at small claims via the clerk of court, but the sheriff service cost is $30 per person in Wake county.

Keep in mind, this is NOT a law, it is an UNDERWRITING GUIDELINE!!!

I haven't used it to create an LLC, but would use their service for this if I was doing a basic, small company setup.Anytime I'm creating legal docs for an entity that has a substantial amount of money involved or potential liability issues (i.e. pretty much any real estate venture I'm involved in), I use a lawyer.Lynn

•The actual process of purchasing a house, what goes into it, what legal concerns the buyer should have.