Property Manager · New York, NY · Member since 2016 · 388 posts · 90 votes
I read regarding Randy Hughes, Mr. Land Trust a lot in here, altho I am not sure i anyone actually work with him.
anyway I decided today to go ahead and buy his course online. Thinking i will be able to watch some simple video and how to create the trust on my own.
but I got whole bunch of PDF file and a lot form, feeling like I spend $420 on a book where I don't know where to started.
so I called randy and he told me to read whole thing and after couple days if I still have question call him back.
Not what I expected. can someone recomend to me a good land trust attorney who can guide me through the whole thing and help me to create a trust? instead ask me to read a book. and I just Pay $420 for a book. But I don't think I have time to read entire book, to create a land trust.
is my expection too high or is something goes wrong here?
Investor · Mableton, GA · Member since 2013 · 78 posts · 43 votes
8y
A land trust can be very helpful. When you learn this you won't need an attorney. You may need an attorney to look over your paperwork for your state to make sure it is compliant..but you can put a property in a trust without an attorney. There are many twists and turns in regards to understanding a trust and it's function. It is important to get this aspect under your belt. It helps with anonymity of who owns the property, and asset protection. I use trusts also for properties I take subject to.
It is important to get detailed information and follow up with it. The first one is the scariest to do. One ( I have taken a few..it is that important and that detailed) of the land trust classes I attended the pages were already filled out on the samples and then I had the document in word doc file which is what I used to replicate each one. Get a good land trust class under your belt. It is too much information to do it on your own. You really need a class and then you need the documents that you fill out when you are ready to take over a property and put in a trust.
You don't get penalized by IRS on how you hold title..You get tax credits based on income in and out of a property. A savvy bookkeeper and CPA are worth their weight in gold.
Property Manager · New York, NY · Member since 2016 · 388 posts · 90 votes
9y
After reading for a day, I completely give up.
For $420 I do not undestand at all.
So wrote a email to him ask for refund or give me some guide. Hopefully he can reply to me.
Anyone has experience with Randy H. Selling his land trust?
My experience is left on the dark after I paid $420
Accountant · Fort Lauderdale, FL · Member since 2013 · 1k+ posts · 753 votes
9y
You need an attorney who practices in trust/estate planning and real estate. Ultimately your attorney will draft a Trust agreement with certain provisions in the trust regarding holding real property. In addition, you need a CPA who understands tax planning when it comes to trusts and of course your CPA should also invest in real estate
Property Manager · New York, NY · Member since 2016 · 388 posts · 90 votes
9y
I did ask Randy again for refund of my $420 , because his package is very hard for me to undestand myself. He refund to refund any money. And he asked me to buy his DVD packages.
At this point I decide not to buy more of his DVD package , of course not!
Lesson learn, time to move on. You all can think twice before you buy his package , might be get a land trust book from library for free will get you same place.
Rental Property Investor · Chicago, IL · Member since 2008 · 53 posts · 25 votes
8y
Liz C.
I am sorry that you could not spend the time necessary to read my course guide. If you had, you would have learned how to create your own land trusts at no cost to you for the rest of your life. It is true that you cannot take a short cut to this process and it does require a few hours of study. My home study course comes with a "14 Steps to Creating Your First Land Trust" instruction sheet that would have held your hand through the process, but I guess you were too busy to read that as well.
I would have been glad to refer you to two attorneys that i know who can create a land trust for you. One attorney is in San Diego, CA and she charges $1,650 per trust. The second attorney is in San Francisco, CA and he charges $5,000 per trust. My home study course that you purchased was $420 for a life time of creating trusts. It is my understanding that not everyone wants to learn how to create a trust and therefore they will have to pay (dearly) for someone to do it for them. Please let me know if you want the referrals mentioned above, i would be glad to supply you their contact information.
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
8y
In my experience, some people are resorting to land trusts and put each property into a different land trust. Also, you might want to check IRS regs regarding taxable income. I could be wrong but believe you don't get as many write offs for holding properties in a land trust or possibly the taxable amounts are different. Check with a CPA.
Property Manager · New York, NY · Member since 2016 · 388 posts · 90 votes
8y
Randy H. Yes but are just documents which is very hard to undestand when I ask if you have video explanations you ask me to pay for more to buy version with video.
I decide not to buy the video version and spend more money , if I already can't undestand the basic and cant get refund of basic version , when I reach out to you for help I wish you would give me some pointers instead of ask me to spend more money to buy yo upgrade.
I just don't think that's how people do business.
I am sorry to be straight FWD and honest so other people who want to buy knows my experience.
I would greatly appreciate if you can provide and video guide if how to use to almost $500 dollar document that I Boguth and left on the dark.
I just find the price and service doesn't match.
Investor · Mableton, GA · Member since 2013 · 78 posts · 43 votes
8y
A land trust can be very helpful. When you learn this you won't need an attorney. You may need an attorney to look over your paperwork for your state to make sure it is compliant..but you can put a property in a trust without an attorney. There are many twists and turns in regards to understanding a trust and it's function. It is important to get this aspect under your belt. It helps with anonymity of who owns the property, and asset protection. I use trusts also for properties I take subject to.
It is important to get detailed information and follow up with it. The first one is the scariest to do. One ( I have taken a few..it is that important and that detailed) of the land trust classes I attended the pages were already filled out on the samples and then I had the document in word doc file which is what I used to replicate each one. Get a good land trust class under your belt. It is too much information to do it on your own. You really need a class and then you need the documents that you fill out when you are ready to take over a property and put in a trust.
You don't get penalized by IRS on how you hold title..You get tax credits based on income in and out of a property. A savvy bookkeeper and CPA are worth their weight in gold.
Property Manager · New York, NY · Member since 2016 · 388 posts · 90 votes
8y
I know is extremely hard to follow paper that he is selling yet after spending 500 to buy just couple piece of PDF paper he wants me to spend more money to buy his videos .
It just sounds ridiculous .
Investor · Beacon, NY · Member since 2017 · 4 posts · 4 votes
8y
I recently attended Randy's course in Norwalk, CT and found it very valuable. His program and suggestions are consistent with the Fortune Builder model as well. My partner and I purchased the Audio/DVD Land Trust and I was able to draft the document. Like anything, you need to put time into it. Even if you don't actually prepare the trust yourself, listening to Randy's stories and experience is probably worth whatever money you spend on this program. I suggest the DVD rather than the audio however. It's easier to stay engaged. I highly recommend his program and think that drafting your own trusts is totally doable.
Property Manager · New York, NY · Member since 2016 · 388 posts · 90 votes
8y
Sorry, I disagree . For $500 I Boguth some empty documents without any guideline .
Those empty trust paper I can buy a lan trust book for less than $20 they will have same form attached.
But for $500 I spend give me some documents without any course and when I ask he ask me to spend few hundred more to buy his video.
And Lauren your first post here in biggerpockets is defending him make me wonder .
Property Manager · New York, NY · Member since 2016 · 388 posts · 90 votes
8y
What I think is whole thing is a rip off, ask for 500 email me fee forms , ask for help ask me to spend more hundred dollar to buy DVD ( and really are we in 1990? DVD ?)
I am sorry I just feel rip off and cero customer service when I reach out for help and he want to me to spend another few hundreds. On top of $500 I spend already. And will not refund my money when I tell him I am not happy and lost. He sway go ahead spend few hundred dollar more to buy this DVD thing.
I just want to warn anyone becaureful with your money!
Property Manager · New York, NY · Member since 2016 · 388 posts · 90 votes
8y
Why don't you go ahead help or refund money to a unhappy buyer instead ask a unhappy buyer spend few hundreds more to buy . I don't find this is good way to do business, if I have a business I would run the right way. Take care of the problem first before ask for more money to buy more product.
Schenectady, NY · Member since 2016 · 2 posts · 3 votes
8y
Hi Everyone, this is my first post. I wanted to be encouraging to Liz and some others that may be considering buying Randy Hughes program. First I realize like anything new, especially when it involves money, there is some fear that we all have in thought that we can not learn a new subject. I think Randy is a Good business man, and he put's himself into answering most questions first handed. That is rare to find, because most people at some point in their business choose to delegate their customer service responsibilities to others. Randy is all hands-on in my experience thus far found. Also from what little I know about his insights, he can explain the subject matter he has expertise in rather clearly.
Let me stay on point with being encouraging, their was an excellent TED talk by Josh Kaufman on learning new subjects. He called it: The first 20 hours, and made a startling discovery about researching how long it takes to learn something new from scratch. Basically he demonstrates how to learn a new material in 20 hours, and everyone should know this truth; it applies universally to all people and all of average intelligence. I believe Liz that you are amazingly smart, though you may not believe this and with just a bit more insight into how to master Randy's coursework, that you will succeed and master making Land Trusts in 20 hours of focused study. Take a look at Josh Kaufman's video at TED it is under 20 minutes long and you will certainly become energized to figure this stuff out.
Regarding Randy Hughes, I believe he will work with you and the benefit is, that if you can manage to work through the awkwardness of learning the Trust writing skill set, and put it to use. I promise you will feel empowered and save much money actively working real estate investing. I also recommend that you watch Tai Lopez speech on 67 steps, if you find his information useful and want to go through his life coaching training, it's only 10 dollar a month to have access to his inspiring video library. This guy sought out mentors and changed his life by becoming an entrepreneur. There is something to learn from everyone and you can succeed! You have Randy's course, why not now force yourself to learn it? I believe in you and that your able to succeed and can reach your potential, just don't allow your self to make any more excuses to not work through the awkward feelings you have learning something new. Anyhow, I hope no one deletes this post; I was just trying to be a encourager by saying you can do it!
Property Manager · New York, NY · Member since 2016 · 388 posts · 90 votes
8y
Fernando Diaz I paid $500 to get fee complicated from from him where I can just buy a land trust book with form in it. And when I called him he ask me to pay more for the videos instead of give me refund or try to help.
Will you pay $500 to buy few pages of lease form?
Property Manager · New York, NY · Member since 2016 · 388 posts · 90 votes
8y
Eric Kutny I rather him just refund me the money. Sorry eric but a new ID for just this post and sounds like you know him personally and his business so well. Doesn’t take away the factor that I paid $500 and get just few forms. Without any video instruction or any service from him.
Sounds like Rip off to me. And he refunded to refund my money . Just ask Me to pay fee more hundre to by his video instruction.
I am just posting my experience here so no one make same mistake as I do . And pay another $500 for few page of Fron where you can just buy a book for less then $20 with all the forms.
Wholesaler · Holiday, FL · Member since 2013 · 571 posts · 221 votes
8y
I am sorry that you perceive your experience as less than pleasant. In contrast; I found the same experience very helpful to me and Mr. Hughs to be a gentleman in all my dealings with him.
Rental Property Investor · Chicago, IL · Member since 2008 · 53 posts · 25 votes
8y
Liz, Sorry you were disappointed to learn that it requires reading and studying to create a land trust. You received much more than just a "book" from me....including all the forms you will ever need to form land trusts forever at NO cost. Active real estate investors will be involved in many properties over their investing career and since it is smart to put each property into its own land trust (separation of assets theory), it gets very expensive to pay someone to create a land trust for you for each property. Therefore, you save a TON of money learning how to do this yourself. But, again if you would rather pay someone i refer all those requests to my attorney friend who charges $1,650.00 per trust. How many can you afford at that price?