Today I want to talk to you about making sure you work with the right attorneys and get the right information when it comes to land trusts. Many of my land trust students have gone to attorneys and been told that the strategy is illegal. This is simply not true. Most attorneys are not familiar with land trusts and have very little experience with trusts in general.
Land trusts are legal in every state. They aren’t a special document or exception to the law, they’re a completely legal strategy to protect yourself and your assets.
We use land trusts for many reasons, but one of the biggest ones is for privacy and estate planning. When you pass away, you can help your family avoid the hassle of probate by putting your properties in land trusts. It also keeps you out of the public eye and away from those looking to file nuisance lawsuits for a quick payday.
I once bought 10 houses in 1 week. I paid a paralegal $600 for each land trust, but when I reviewed the paperwork, I realized they were exactly the same contract. The only thing that changed was the name of the property. So why did I pay someone $6,000 when I was able to easily make the new trusts myself on my own computer?
At my land trust boot camps, I give you all the documentation you need to create your trust. All you need to do is fill in the information about your own property and you’re good to go. You don’t need to pay what I did for an attorney or paralegal to create trusts for you.
A land trust is simply a contract. Contracts are legal under our country’s commonwealth law. This is the law that came over with the Pilgrims from England.
Make sure you visit my website, LarryHarbolt.com, for all your real estate investing educational needs.
Also, please rate and review my podcast on your favorite podcast player. This tells me that I’m giving you the most valuable information possible.
It is important that every investor knows that value has nothing to do with money. Value isn’t just about the price you pay for any property. Value is what each person in any transaction feels they got what they wanted or the transaction will never take place. Today’s podcast will give you ideas how you can use things other than cash a seller believes has more value to them than getting cash at closing. Value is what each party is happy with getting in a transaction where cash doesn’t necessarily have to be part of the deal.
Value doesn’t equal dollars, dollars do not equal benefits, value is subjective to each party of any transaction.
It’s time to understand how value of things other than cash is monumental to your success. When you know how to use other items in exchange for equity to buy real estate can really make a huge difference in how much money you eventually make on every deal you do.
Over the years I have learned that to get quality real estate coaching has nothing to do with the cost, it has everything to do with the coach’s experience level and knowledge of the real estate business.
My own business didn’t grow exponentially until I found a mentor who would help me learn what I needed to know how to structure deals that would allow me to make the most profit.
In this podcast you will learn some of the tips and ideas I learned that gave me the ability to buy property other investors had no idea how to buy.
I do believe having a mentor is one of the biggest factors you need to be successful. I was taught, you don’t need banks, you don’t need good credit, all you need is knowledge how to structure deals that seller will accept.
Today I don’t believe most investors think about how much time and money they waste running from pillar to post thinking they are being time efficient when in reality much of the energy they spend is not as productive as they think it is.
If you are not being productive every day, you are losing a boatload of money and you don’t even realize it. is basic common sense few people ever think about, Yet, it is so important to know how much money you will make from every property you buy.
Today’s episode is about all of the time wasters as well as the money wasters almost everyone who is a real estate investor does on a daily basis and don’t realize it.
If you will follow the steps I lay out for you will always allow you to do more profitable deals simply because you are doing things on purpose, and in a timely fashion, which means you should always make more money from every deal you do.