Today’s REI Classroom Lesson
Jack Shea teaches us about how trusts can provide you with privacy and protection.
REI Classroom Summary
Jack explains more about how it’s like a new operating system for real estate investing and how it can take the stress out of negotiating.
Listen to this REI Classroom Lesson
Real Estate Investing Classroom Show Transcripts:
Mike: Welcome back to the FlipNerd.com REI Classroom where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
Jack: Hi, my name is Jack Shea. I’m an investor and real estate and notes for over 25 years. I’ll talk a little bit about trusts, personal property trusts and land trusts. We use them both. We have an IRA checkbook trust.
Mike: This REI Classroom real estate lesson is sponsored by VirtualStaffNow.com.
Jack: But I like the trust business. I’ve never done any exchange, any business outside of that. I do hundreds of deals all in trusts. To me, you get a new way to run your real estate. You get a different system for managing the properties in private. You can partner in syndication with other people at the trust level, which is personal property, no witnesses and no notaries. And you get this privacy, where the tenants and the bureaucrats do not know who the real owner of the property is. It’s legal in all 50 states. It’s in an estate-planning tool where the heirs are set in the documents. You can gift shares in pieces of 10 or $14,000. It’s a system for buying and selling more anonymously as an agent for the trustee. And it takes a lot of the stress out of negotiations with sellers and buyers.
So it’s like getting a new operating system for your computer. You get all these modules in different ways to operate, but the main thing is it’s a firewall and a spam filter that you don’t get harassed. You don’t get nailed. You don’t get sales people. You just are able to operate in private and it’s been the law in Illinois since the 1890s. So I would suggest that investors look into it and it’s also for notes. You get the same benefits. Thanks.
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