Setting Up Land Trust Or Not
This question regards buying properties subject to for the short term. Is it necessary to set up a Land Trust in order to put my name on the insurance policywithout the bank knowing if i only intend to hold the house for a few months? For example, if I want to purchase a home in need of updating subject to. i intend to spend no more than a few weeks updating the property and when complete to immediately put it on the market for resale. This process, ideally, should take no more than 4 months. Is there any other ways, besides a land trust or getting a second insurance policy with myself as the beneficiary, to make sure that I am financially covered incase of some dissaster that befalls the property?
Thanks for any advice you may have?
You do not have to set up a land trust to purchase property sub2. With regards to the insurance issue read this article. http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=472
Thank you for your reply. The article was a big help. This sounds like an excellent way to insure the property without the bank getting bent out of shape. Thanks again