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.
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.
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.
Payment of profits (even disproportionatly) does not change the owner equity.
Just a point of clarification, unequal distribution is allowed in an LLC but not in an S-corp.
Helps.. thanks. When I was saying basis, I meant basis in the LLC..
Maybe I should have taket a accounting class or 2!