All Forum Posts by: Angie Zhang

 What type of trust, living revocable trust, irrevocable trust, land trust??? There are many different types of trusts. If you are thinking land trust for anonymity to me I believe its a waste of money as no one cares who you are. Sorry that is not meant to offend anyone but unless you are a famous celebrity and do not want paparozzi at your house, there is no need. Those who say oh people will know and sue you - there are 2M people on BP on not one has ever noted or shared a story where this occurred.

@Angie Zhang I am not a tax accountant/CPA, but just file your taxes on a 1040 schedule E or a business tax return.  Whenever you refinance a property you will need to take it out of whatever entity you have, complete your REFI and then put it back in.  Not difficult to do.  When you sell your home, if in a trust, you just instruct the closing company to send your proceeds wherever you instruct them to.

I always recommend a trust for privacy reasons and an LLC for liability protection. Why make it easy for an attorney to sue you?

Good Investing...

@Angie Zhang

It is the same as purchasing in your name. I have done several. It has made ZERO difference in the paper work. In fact, I transfered over several into a trust after purchase as well.

Not 100% sure about this, but you just need to be the Trustor, Trustee, or both. Essentially, you are still the guarantor because you need to qualify for it unless you are buying all cash.

May be others may have a different experience.

@Angie Zhang if revocable, then there are no implications. I often write the offer under my name and or assignee, and let seller agent know that I will be assigning the contract to the trust upon close.

How many trustees do you have? They all need to sign closing docs, which can be cumbersome.