All Forum Posts by: Silvio Brigliadoro

I like that gift card idea smitnlit! I make sure to thank my tenants every chance I get for keeping the houses looking nice, I also make it a point to raise rents once a year, even if its only $5; I also send them a list of comparable rents in the area so they see they are getting a great deal.

I'm not an expert but have done several trusts and I view them as an invaluable tool for anonymity and privacy of ownership. George is correct, this combination will probably hold the real estate beyond the reach of most attempts of litigation. Adding a certain type of co-beneficiary (not family or business partner) to a trust will bring all of the protections that the law allows towards personal property, a judge may not be able to order the sale of the real estate to satisfy a judgement due to the limited partition rights by outside parties. Why will that co-beneficiary have to suffer a loss due to the acts of someone else? I would make sure the trustee (person or LLC) owns no real estate. May not be practical to find the perfect way of setting this up as someone will always find a way to pierce thru it. I think a mix of some of these ideas will make it convoluted like Mitch said and deter attempts of litigation. Adding a good liability policy will probably give you the extra piece of mind should any of this fail to protect you. I do the best I can to take care of my properties and tenants, hopefully that will also help in not getting into trouble.

An LLC will protect YOU; the land trust will protect your property...Why not use them together?
Deed the property to your land trust, make your LLC the trustee of the trust, yourself as the beni, a second unrelated person also as a beneficiary of the trust. The benies now have only a personal property interest in the trust, and no further ownership of the property. Personal property cant be partitioned, so you added an additional layer. You could also make your LLC the benificiary additing another layer, but I would just get a good insurance policy to protect you instead.

Steve, what will you be focusing one, trustee's sales? You also should develop a relationship with a Title company where they would be able to help you understand some of these documents and their lien position very quickly. Understanding and doing the title research yourself still the best option.

Jasmine,
I would start by looking for some private money from family or friends, BP has a list of Hard money lenders that could fund your first deal; you should not have any problems finding short term money if your buying it @ a good discount. Good luck!