Land Trusts

Has anyone been to a Bill Gatten seminar on aquiring real estate. Just looking to see if anyone has any good experiences with his techniques.

Comments(4)

  • joecrane3rd May, 2005

    I have never heard of Bill Gatten; but, your title said land trusts.

    Land trusts are good only for hiding your true identity. They give no protection from lawsuits and provide no tax benefits. The only benefit is that if someone is looking to sue you for something in your REI career, they will have a more difficult time finding out who you are and thus what you are worth. The idea is that after a cursory search, they will simply give up and assume that the trust has no money. It is a common REI technique.

  • joecrane1st May, 2005

    Payment of profits (even disproportionatly) does not change the owner equity.

  • joecrane2nd May, 2005

    Just a point of clarification, unequal distribution is allowed in an LLC but not in an S-corp.

  • cjmazur3rd May, 2005

    Helps.. thanks. When I was saying basis, I meant basis in the LLC..

    Maybe I should have taket a accounting class or 2!

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