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EFCCEO
CEO
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Personal Credit Reports...and LLCs/Landtrusts!!
Monday, April 28 2008 01:48 PM
Well i have a property...i also have an LLC...not a long lived LLC as of yet...but i would like to get my property i have now under my name and the mortgage is on my credit...how do i get it out of my name?! Is paying it off the only way?! or just leave it alone and deal with it and then on my next purchase make it a Land Trust at closing so i dont have to deal with the issue again?! Thanks again love the site and your info!!
www.theefc.com
Neal Lawson
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Randy Hughes
SFH Master Advisor
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Re:Personal Credit Reports...and LLCs/Landtrusts!!
Friday, May 30 2008 07:20 PM
Neil,
SORRY FOR THE DELAY IN ANSWERING YOUR QUESTION. WE HAD A TEMPORARY PROBLEM WITH THE DISCUSSION FORUM. ANYWAY, SEE MY COMMENTS BELOW IN BOLD.
Well i have a property...i also have an LLC...not a long lived LLC as of yet...but i would like to get my property i have now under my name and the mortgage is on my credit...how do i get it out of my name?! Is paying it off the only way?! or just leave it alone and deal with it and then on my next purchase make it a Land Trust at closing so i dont have to deal with the issue again?! Thanks again love the site and your info!!NO, I WOULD NOT "LEAVE IT ALONE." YOU CAN GO AHEAD AND PUT THE PROPERTY INTO A LAND TRUST NOW AND GET IT OUT OF YOUR NAME. IT IS STILL BETTER THAN LEAVING IT IN YOUR NAME. THEN, ALL FUTURE ACQUISITIONS SHOULD BE PUT INTO THE LT INITIALLY UPON PURCHASE AND NEVER GO INTO YOUR NAME.
Randy Hughes
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