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n7kon
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Landlords
Sunday, February 17 2008 06:34 PM
I have several landlords that are having problems keeping there places rented out, and I was wondering if there was a way to use a land trust and put myself in the deal some how?
As I understand it if the renter is paying all PITI and maintenance they are considered the owner and can use the payment of interest and improvements as a tax deduction as if they were the legal owners. My assumption is if the renters have a buyers type mentality they will stay longer and take better care of the place
Does your course teach anything like this or can this be done at all?
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Randy Hughes
Master Advisor-39 years of experience
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Re:Landlords
Monday, February 18 2008 08:07 AM
SEE MY RESPONSE BELOW IN BOLD.
RANDY
I have several landlords that are having problems keeping there places rented out, and I was wondering if there was a way to use a land trust and put myself in the deal some how? YES, HAVE THE OWNER OF THE PROPERTY PUT THE TITLE INTO A LAND TRUST (WE TEACH YOU HOW TO DO THIS IN OUR COURSES). THEN, YOU CAN BUY (FOR CASH OR ON A CONTRACT WITH NOTHING DOWN) THE BENEFICIAL INTEREST IN THE LAND TRUST.
As I understand it if the renter is paying all PITI and maintenance they are considered the owner and can use the payment of interest and improvements as a tax deduction as if they were the legal owners. THIS IS TRUE TO SOME DEGREE. I BELIEVE THE TENANT-BUYER WOULD ALSO NEED A CONTRACT TO PURCHASE OR AT LEAST A VERY LONG TERM LEASE TO SUBSTANTIATE THEIR INTEREST FOR THE IRS.
My assumption is if the renters have a buyers type mentality they will stay longer and take better care of the placeTHIS IS TRUE AND CAN BE OBTAINED VIA A LEASE-OPTION TOO. WE TEACH THIS METHOD IN OUR HUGE PROFITS/LOW RISKS WITH LEASE OPTIONS COURSE.
Does your course teach anything like this or can this be done at all?
YES, PLEASE GO TO THE "SHOP ONLINE" LINK ON THE LEFT SIDE BAR TO FIND ALL OF THESE PRODUCTS.
Randy Hughes
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