NARS/Bill Gatten & PAC/NEHTrust System of RE Conveyance?

Question

Is there anyone here who has used the system promoted by Bill?

I am interested in how it has worked for people who have actually used the system.

John Corey

N/A N/A · Answer

Bill,

Sounds like you got yourself a good system and that Gatten's system is well worth the money.  I will definitely be looking into it.

Thanks for the info!

Sooz

Bill McKee · Answer

As an update to my previous post... I am closing another NARS trust deal this month on a home on 5 acres just south of ORegon City.  This is a $425,000 "mutually agreed value" property going into trust, with the new Resident coming in to reside in the property over a 4 year Trust. Total cost to "move in" by the Resident Beneficiary is about $7,000. including all costs for the Trust Documents, contengency reserves, first month payment, and Trustee fees.

Settlor and RB are very happy with the way this works.  There is no due on sale violation.. no new loans needed.. 3rd party keeps all records of payments received/disbursed.. Title to property is protected from things like Tax liens, Judgments, divorces, death, and other "life problems" that people get themselves into.  And should the RB default, provision is made to handle it in a manner that is fair, reasonable, quick, and inexpensive.

Complicated?  Not so much after you become familiar with the components and why each is needed.  Compared the simplistic "Trusts" I've seen elsewhere.. I think you'll agree that Gatten's system is the "Gold Standard".

Bill in Oregon

N/A N/A · Answer

John,

Did you invest in his system and take a look at it?  I saw a post on our local board from someone who suggested it for finding creative ways for buyers with little to no equity....obviously a big share of our recent foreclosures.  Just wondering if you too invested in the system and had anything to add to Bill's recommendation.  I have heard that it is complicated, but that doesn't scare me!   :lol:

Account Closed · Answer

Bill,

Thanks for the reply.

As someone who has lived and invested in the metro Portland area it is good to hear you applied the system in a market I know a bit about.

I will send you an email so we can discuss further.

John Corey

Bill McKee · Answer

I have used NARS - and worked just like advertised for me.

Last deal involved a home in Vancouver, WA- owner was moving to CA and had a prepay penalty on his loan.. and just wanted to get out of the monthly obligation.

Placed his home into his own trust, then assigned a beneficial interest to me and I in turn brought in a resident beneficiary to "partner up" with.  Resident pays the loans, the trustee fee, and takes all responsibility for maintenance, etc.

In this deal, the res. beneficiary has right to buy the home from the Trust next year.. and if he doesn't, the property will be put up for sale.  Our agreement is that after loans are paid off and closing costs are paid.. and I'm paid back my initial equity, res. beneficiary can have 100% of balance remaing .. my initial equity is > $25k, by mutual agreement.

Gatten has designed a system that works- and overcomes the limitations and far higher risks inherent in land contracts, lease/options, straight options, 'subject to" deals, etc.

Does it take some time to learn? Sure.  Is it worth it?  Absolutely.

Bill McKee

NARS/Bill Gatten &amp; PAC/NEHTrust System of RE Conveyance?

NARS/Bill Gatten & PAC/NEHTrust System of RE Conveyance?