Oct '24 • General discussion
Subject to Buying
🚀 Alright, Quad Collective, buckle up! We're diving into the wild world of real estate with a twist of genius called Subject-To. Here's the master plan that nobody else talks about, the trust method.
1️⃣ **Land Trust** - We're not just buying houses; we're setting up a cloak of invisibility with a Land Trust. Name it after the property. Smart, right? Name of the Trust should be (123 Main Street) for example.
2️⃣ **Trustee** - Get a lawyer. Not just any lawyer, one that eats property law for breakfast. They should be the Trustee.
3️⃣ **Beneficiary** - Your LLC sits here. See our link for Prime Corporate Services to set your LLC up.
4️⃣ **Closing Docs** - Seller signs over everything. It's like they're handing you the keys to the kingdom, but on paper. This is where you can use one of our transaction coordinators to make it easy.
5️⃣ **Privacy** - We avoid the Due On Sale Clause. The bank thinks it's estate planning. We're playing 4D chess here.
6️⃣ **Seller Coordination** - Put a Power of attorney in place to talk to the bank and one for you to communicate with the insurance company. You're now the captain of this ship.
7️⃣ **Insurance** - Landlord policy, trustee insured, bank's first, LLC's riding shotgun. No shortcuts.
8️⃣ **Bank Maneuver** - If you can't can’t get complete online access you can still call the bank as the manger of the trust if you need something.
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Subject to Buying
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