Anyone buying houses in the name of a trust vs an LLC?
Walter
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Just a guess, lets keep it simple... lets assume you find an investor here in the group to hold a note against the property which will be owned inside the trust, I would say it is up to the investor/mortgage holder
Mike, if I may ask a follow up question: Can you purchase house with Trust, if you don't pay full cash (meaning having a mortgage)?
many thanks,
Y.
I am seriously looking into creating an "Irrevocable Trust" to purchase my future note deals (works for houses as well). So far the advantages to a trust vs. LLC are in my favor!
No creation fee for a trust- LLC Yes
No annual fee- LLC Yes
No record of principals- LLC Yes
No registered agent- LLC Yes
If trust is within my self directed IRA I will have complete checkbook control using a trustee to sign my checks just like an LLC
Thank you Jack Shea for showing me how to get this done. If anyone is interested in learning this, tell Nick Tang you are interested in Jack Shea's course on trusts.
Mike R