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Post by landtrustme on Sept 2, 2008 12:19:59 GMT -5
Do I set up both a LLC and a land trust for my personal property and vacation property?
Also what if i buy a rental property?
Thank you for this board ;D
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Post by skepticfinances on Sept 2, 2008 13:02:42 GMT -5
thanks for asking this, i had a similar question.
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Post by r2d2investments on Sept 3, 2008 16:03:54 GMT -5
Hello, You definitely want to set up a Land trust for each property you own. A land trust is a privacy tool so it will remove all your personal information from Public records. Regarding the LLC you definitely want it to own the Investment property or vacation home but not the personal resident. If an LLC or corporation owns your personal residence you will loose your tax benefits deductions. if you want the equity in your personal resident to be protected its better to have the LLC put a friendly lean against your home. You can also set up a separate LLC just for that. This way if someone wants to go after the equity public records will show that the home has a lien against it and there is nothing to take. I have a couple of investment properties my self and thats what i did. Its great to know that people cant jump on line or title company web sites and see your peronsal info and property info. Its so easy for people to do an asset search on you now. i got my stuff done with www.companiesinc.com or 1800company.com Give them a call or email them, they will explain everything and they do most of the work for you.. its great. |
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Post by landtrustme on Sept 5, 2008 13:02:29 GMT -5
thank you so much for answering my questions. I will be calling 800 company on Monday to go over my options here
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Post by badeconomy on Sept 17, 2008 13:19:45 GMT -5
r2d2, i was just looking for this information and found your post here, thank you so much.
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Post by landtrustme on Sept 17, 2008 14:18:39 GMT -5
they helped me with everything - great job on the phone and thanks again.
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Post by rockstarinvestor on Sept 18, 2008 9:53:41 GMT -5
got another one i need your help with. will be calling you shortly.
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Post by pennypincher on Sept 24, 2008 18:49:57 GMT -5
I just forwarded this info to someone that needs it. Good resource here.
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Post by numbercruncher on Oct 3, 2008 18:52:28 GMT -5
my friend wanted to thank you for this information. i am the gatekeeper of the land trusts. ;D
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Post by badeconomy on Oct 8, 2008 18:38:48 GMT -5
i had to forward this to someone that needed it, so i'm bringing it back to the top
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