Land Trusts
Is there anyone who can give me info about land trusts? How to set them up and the benefits from having them? 
Is there anyone who can give me info about land trusts? How to set them up and the benefits from having them?
I am currently working and getting knowledge about land trust. It is a very good idea. The way this one pays if you have 75% or better in equity, they will pay 5% to your mortgage company. 50 to 75% 4% to your mortgage company, and so on. The idea is to pay off your mortgage in 3 years. If you have 75% equity in an 100,000 dollar home it will take only 5 or 6 months to pay it off. After that they will send the checks to you each month. It takes 3 months for it to kick in. 2 months ago I was with some guys in sent in $2,000,000 worth of mortgages, it should start paying off around the first of the year. Once that happens we will see were it will go. Contact me back in about 3 weeks and I will be able to give you more info and sign you up. I hope this helps. Owen
Thanks for the info. Though the info you gave is not what I thought, I will check back in 3 weeks to seee how things are going.
Oroper:
What in the World are you talking About??? A Land trust or Ponzi Scheme???
I am T Totally confused by your post reply could you clarify for us details and complete overview of what you intended to present.
Thanks,
Yasmine:
Nice to meet you!
I'd suggest using the ADVANCE SEARCH feature here on TCI (above on the navigation bar)
Another excellent site I have found is the No. American Realty Services: www.LandTrust.net website.
Hope this helps!
Derrick Ali :-D
I am waiting back to see what happens at the first of the month. I am sorry for any misunderstanding or misleading info that I might have presented, but that is why I said contact me in 3 weeks and I should have a better knowledge of the situation.
Nice to meet you too Derrick Ali! Maybe we can find some info on Land Trusts here. I will try the website you gave. I am new and I am in the process of buying two homes right now. Are you a seasoned investor?
I am confused by oroper's reply as well.
Mark Warda, William Bronchick and Lou Brown have articles and books out there that will help you in your land trust knowledge quest. They are certainly nice for anonymity, just understand they do not provide true asset protection.
[addsig]
Yasimne:
Seasoned but not too Salty! (smile)
Did you find anything here on TCI yet???
There is a wealth of information here and I love it. I have been a member of TCI for about 2 years under a different name. So I do know the value of the info and the members here. Thank you much!