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?
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.
Kevin, i am sorry you feel that way. I think what you are putting your finger on is the fact that we can't teach people the entire process of creating a land trust in a post or blog. You must be proactive and study the actual material and forms before taking action. Just like anything else of value when it comes to education and training.
Matt Y. Wow, i am sorry you had such a problem with my website. I know from time to time we have links break but 99% of the time it operates smoothly. I have spent a fortune making this THE best Land Trust website in the world. I wish you would have emailed me about this when it happened. Furthermore, I give GREAT customer service by answering my phone 7 days a week and returning emails (who else does that in ANY business? NO ONE gives better service than me. Try calling me now.....Bigger Pockets will not allow me to post my phone number but you can find it by googling me and getting off my website. It is Sunday...call me...see what happens.
Thanks for the reply on here Randy! I have emailed you 6 times and none received a response. I thought you were a ghost...haha. I did text your number to get text-updates but it didn't work either. I figured the number was broke--but I will call you as requested now that I know it works. However, I won't bother you on a Sunday night. It can wait until the weekdays. :)
I can tell you probably spent a fortune by using infusionsoft. Hopefully others are not having link problems and playback problems I had.
I am a student of Randy's and have created my first land trust. As Randy says, all you need is the Trust Agreement and the deed. I am selling the property on January 21, 2022 via my Trustee.