We Need A New Forum
With all this talk about Land Trust and the famous DOS clause, there needs to be a forum, together or seperate, just for that.
Also, hire some vedio game programmers and set it up where memebers can go at it like on Mike Tyson's Punch Out, where they fight with the facts...and keep points on who wins. You All Star Investors can't play, you can just moderate 
I think the All Stars should play. I always enjoy their comments!
BAMZ
they can be referee's
This is a great idea...
2 or 3 well written articles would take care of it. There is a ton of information on both land trusts and DOS clause throughout the forum. It's not too involved or complicated.
The jist of it is this:
have seller create a land trust at the close.
-If the seller is "bob smith" call it the "bob smith land trust" or something like that.
-You designate the trustee
-Seller is the beneficiary
-Seller is the grantor
(This document is recorded)
Immediatly after doing that, have the seller assign the beneficial interest of the trust to you (or your selected entity).
Do the rest of the paperwork as you normally would. (REPC, title work, title insurance, etc).
When you operate, operate under the name of the land trust. I'd recommend having an LLC be the trustee of the trust, and you be an authorized manager.
Do it once and you'll have it figured out and never have another question about it.
I agree this is a great idea, how would you go about doing something like this?
Thanks, but I was speaking for the new people that continue to post the same questions over and over again about trust and the dos.
I know it is simple but there are many post out there that have a great deal of information in them and I was just suggesting that it be centeralized.
We have a suggestion for a new forum: Stage II and Beyond - The Career Investor
The forum may have the following ADVANCED topics:
Incorporation Guidance, Lawsuit Protection, Real Estate Financial Planning, Real Estate Automation Strategies, Pooling Investor Resources, After Hours Investing, Corporate/Event Sponsorship, Negotiation Tactics, Real Estate Club Speakers, and Find the Buyer
Just brainstorming...
Eric & Rosa
[addsig]
Hibby76's post is a basic summary of how land trusts works. The trust document, the trustee's duties, the associated documents necessary to transact and the distribution of proceeds takes some learning- but not an entire forum's worth. I even propose that a few forums be combined. For example, short sale and preforeclosure/4closure.
The newbies should be encouraged to search for articles relating to topics they're interested in rather than posing the same questions again, again, and AGAIN. What's wrong with a FAQ site for each forum?
Robert Kiyosaki has cash flow game(s).
Better yet,the real game and the real points are scored out in the field doing deals. Aint that what its all about? I suspect that there are many posters/lurkers who never get out in the field ,who never do deals , and who would be money ahead if they disconneted their computers and started making some offers..
ok, just jokes. just trying to cut some of the tension. and trying to suggest something to help out a few people, I see this land trust thing is big thing now a days and just was trying to help. [ Edited by nebulousd on Date 11/05/2003 ]
I see the website as a career investors website. As I am not a beginner, RE Investor, but a career.
I plan on using this website as a tool for me. So, some of the tools, we will be building on this site, is really just so I can use it.
A couple of the things that are coming for this site is:
* Property Management features.
* Partner Collaboration feature (this is so husband and wife can have separate accounts and work on the same properties.)
* Debt Elimination features (Getting out of debt is a big concern for me and living debt free.)
I think that one way we could strengthen the "Land Trust" confusion is to get some of the documentation that you would use to create a land trust into the "downloads" section.
If you read through how it is done WHILE you're reading the documentation, I think you'll see that it's quite simple.
So doc's plus a couple of good articles, could clear it up pretty well.
I apologize if I came across in a derogetory or demeaning manner. That was not my intention.
I think that one way we could strengthen the "Land Trust" confusion is to get some of the documentation that you would use to create a land trust into the "downloads" section.
If you read through how it is done WHILE you're reading the documentation, I think you'll see that it's quite simple.
So doc's plus a couple of good articles, could clear it up pretty well.
I apologize if I came across in a derogetory or demeaning manner. That was not my intention.
Perhaps I'll take the challenge one of these days if things slow down for me a bit.