Hi, this is Mr. Land Trust®, and I wanted to talk to you today about the possibility of you learning how to create trusts yourself.
You see, there’s a phone number at the top of my homepage. You notice, uh, that a lot of people call before they decide to get my course, and they ask me questions.
Uh, so I have in my hot little hands, seven of the most frequently asked questions of people who call in from that number at the top of my homepage. And I’d like to cover those with you now, because you may not have thought of, of some of these, and I think it would be to your benefit. If you’re wanting to learn how to create a Land Trust, it’d be to your benefit to hear the answers to these questions.
Question: Can I Create a Land Trust?
Answer:
So the first question is, can I create a Land Trust myself?
Yes, you certainly can.
Uh, that’s what my home study course does, is it it teaches you how to do it. It provides all the forms you’ll ever need the rest of your life, and you will put those on your computer and you’ll be able to create Land Trusts forever, uh, at no cost in the future.
Because, you know, once you learn how to do this and you got the forms, then there’s no cost of setting up a Land Trust like there is to setting up an LLC or a corporation.
So you can certainly do it yourself.
Question: How Long Does It Take?
Answer:
Uh, another big question I get is how long does it take to set up a Land Trust?
Well, my, my home study course, my Land Trusts Made Simple® Basic Home Study course. I wrote it myself. It’s about 95, 96 pages long. It’s not a bunch of legalese. It’s, it’s just, uh, one investor talking to another, and it teaches you how to create this trust.
Now, you’ll probably have 9 outta 10, 10 of your questions answered, uh, by my course material. But if you have additional questions, that’s where I come in. I give you terrific support. Uh, you can call me from 8:00 AM to 8:00 PM seven days a week Central time if you have any additional questions. So feel free to contact me after you’ve read the course and studied the materials.
Now, um, once you get this on your computer, your Trust Agreement, that is, you’ll be able to create a trust in five minutes. Literally five minutes.
Uh, so it’s that initial learning process. It’s gonna take you two or three, four hours, uh, but then you’re good to go, uh, forever. And if you’re a very active real estate investor, you’re gonna be creating a lot of these trusts in the future. So if it’s good to know, you can create them quickly.
Question: Will You Do It For Me?
Answer:
Next question is, why do, why will I do it for you?
And no, uh, I can’t do it for you, but I could certainly teach you how to do it. Um, it’s not hard, it’s not brain surgery. I can assess, attest to that.
Question: Do I Record It With the County?
Answer:
Um, another big question I always get, and it seems to be confusion over this issue, is, do I record the Trust Agreement?
Now, I know in some, uh, fields of study with trusts, not Land Trust, but other types of trusts, uh, some attorneys will record the Trust Agreement.
But you don’t do that with a, with a Land Trust. You do not record the Trust Agreement that is yours only stays in your file and your Trustee’s file for privacy and anonymity of ownership.
Um, so you we’re not gonna file that, but we, what we are gonna file is the Deed to the Trustee. Uh, the smartest way to buy real estate is to take title directly from the seller to your trust. So you’re never in the trust in the, um, in the chain of title.
Uh, but if you own real estate right now, you need to get off the deed as quick as possible so you’d file a deed from you to your trust.
Question: What Is the Cost?
Answer:
Next question. Um, what is the cost of setting up a Land Trust?
The cost is zero.
Yes, you’d have the cost of buying my course if you decide to do that, but after that zero. There’s no registration fee. It’s not like a, a corporation or an LLC where you pay a franchise tax every year. Um, uh, there’s no, uh, Registered Agent required no tax return.
Uh, it, it’s a very simple process that, uh, is easy to apply and, and replicate over and over again as you’re buying and selling and rehabbing and doing all the things that you do in this business when you’re in and out of title.
Question: Who Should Be the Trustee?
Answer:
Who should be my Trustee? Another big, big question.
People are confused. You know, who should it be? Does have to be my attorney, my accountant?
Uh, the, the short answer is it can be anybody.
Um, I have a whole chapter actually in the home study course on who can be and who should be your Trustee. So I give you a lot of good ideas there. But bottom line is, uh, it can be anybody, uh, of adult age. Uh, they don’t have to be licensed, insured or bonded.
Uh, and I do prefer individuals as Trustees as opposed to entities.
Question: Do I Need An LLC?
Answer:
Another good question I get a lot is, do I need an LLC?
Well, what, what’s important to understand about these trusts, yes, they give you anonymity of ownership, and that’s the first line of defense as a real estate investor, is to not own this stuff in your name. However, that doesn’t mean there’s no more liability. The liability on the property that you put in the trust flows through to the Beneficiary.
That’s why most real estate investors will make the Beneficiary of their Land Trust an LLC, because it does have more asset protection.
So I hope these points have, uh, helped you understand, uh, all about Land Trusts and whether or not you wanna get involved with them, I encourage you to learn more. Uh, they are wonderful tools, uh, in this investment real estate world that we, we all live in.
And I encourage you to learn how to do this. It will be to your benefit and your family’s benefit for generations to come.
Thank you for listening, this is [garbled] Mr. Land Trust®, signing off.
Do you have more questions? Mr. Land Trust® has more answers! Review his FAQ page on this site.
Remember to like me on Facebook, follow me on YouTube, and join me on LinkedIn.
Recent Comments