BiggerPockets

What about Land Trust's

Saturday, September 05

What's the deal with Land Trust's? A short time ago it was recommended that every property be purchased in a Land Trust. Now it seems we don't have any title insurance carriers willing to underwrite a deed in trust. Try to ask the "Guru's" who sold you the concept and it's another fee to get a response. What's everybody doing, are ytou using Land Trusts, LLC's or both?

Foreclosing on A Hard Money Loan

Friday, April 24

Back in January a very reputable and trusted RE agent referred another investor to me for a short term loan. Never done a loan before and I'm sure I made mistakes. I did my due diligence with title work, wrote up a promissory note and recorded a 1st position, only position mortgage. I was pretty happy at that point with 5 points and 15% all documented and recorded.

Then I found out about the nasty divorce taking place and the father-n-law who actually loaned all the money to buy and rehab the subject property. Now she's got her divorce attorney, he's got his divorce attorney and I've got my attorney. Poor father-n-law keeps calling me for advice because he put up his residence to fund this deal to begin with.

Looks like I'll be foreclosing and sitting pretty nice when all is done but I'm feeling for that father-n-law. I'd love to hear any advice or thoughts on this matter.