6/6/2023: Main Monthly Meeting - Land Trusts

 

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Brooklyn Park, MN
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Webster, MN
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Le Sueur, MN
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Minnetonka, MN
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June 2023 Main Meeting:
Land Trusts with Mike Jacka!

Land Trusts are the ultimate in privacy, if you know how to use them and understand the simple legislation that regulates them, or should I say protects our right to use them.

Do you use Land Trusts, or do you put your investment properties in your own name for all the predators and creditors to find? I hope not!

Everyone has heard about Land Trusts and they know they should be using them.

A Land Trust keeps your name or your corporations name off public records. It gives you a certain level of privacy.

There are sooo many benefits to using Land Trusts, and I don't know of any negatives related to using them. There is very minimal paper work involved; that takes maybe 5 extra minutes to prepare. There are no separate tax reporting issues to deal with because the IRS considers a Land Trust to be a Flow-Through-Entity, which means that you report the property on your own (or your corporations) tax report.

Why use a Land Trust?

  1. Privacy.  A land trust keeps your name or your companies name off of public records and out of the chain of title.  Privacy is extremely important to most people who donā€™t want others knowing what they own. For example, if you own several properties within a city that has strict code enforcement, you could end up being hauled into court for too many violations, even minor ones. Having your real estate titled in land trusts makes it difficult for city code enforcement to find who the owner is, since the trust agreement is not public record for everyone to see.
     
  2. Discourages Frivolous Litigation.  Maybe you upset an annoying tenant because you charged them a lost key charge because they keep losing it or whatever other crazy reason some tenants find to sue you, just because that is how they roll.  If you have all your properties in separate land trusts, which each have a separate name, then it will become extremely difficult for a lawyer to run an asset search on you and/or very expensive for the tenant to pursue their frivolous law suit, so they usually just go away.
     
  3. Protect your Properties from Personal Liens.  If you are sued personally or file bankruptcy, it will not affect your properties that are in land trusts because they are not in your name and you are not the owner of record, or legal title holder.  You have a beneficial interest in the properties, but your name is not attached to the properties from a legal stand point.
     
  4. Land Trusts are Assignable/Wholesalable. The ownership of a land trust (called the ā€œbeneficial interestā€) is assignable, similar to the way stock in a corporation is assignable. Once property is title in trust, the beneficiary of the trust can be changed without changing title to the property. This can be very advantageous in the case of a real estate contract that is non-assignable, such as in the case of a bank-owned or HUD property. Instead of making your offer in your own name, make the offer in the name of a land trust, then assign your interest in the land trust to a third party at or after closing avoiding the whole seasoning issue.

What will be covered:

  • Naming Land Trusts
  • Naming a Successor Beneficiary
  • Changing Trustees
  • Selling a Trust Property
  • What gets Recorded 

Register Here

Upcoming Events

June 6
Main Monthly Meeting - Land Trusts

Tuesday 6:00 PM - 9:00 PM

Land Trusts are the ultimate in privacy, if you know how to use them and understand the simple legislation that regulates them, or should I say protects our right to use them.

Register for this Event
June 7
Wholesaling 101

Wednesday 6:00 PM - 9:00 PM

We'll cover the basics of wholesaling and a few advanced strategies.

Register for this Event
June 8
House Hacking with Chafic

Thursday 6:00 PM - 8:00 PM

House hacking is the proper application of owner occupying a property, where a person buys a duplex, triplex or fourplex, lives in one unit and rents out the rest.

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June 9
Buy-Sell-Trade Mastermind Group

Friday 10:00 AM - 11:00 AM

Bi-Weekly Mastermind group for creative deal structuring with real live opportunities.

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June 10
Land Trust Workshop

Saturday 9:00 AM - 3:00 PM

If you're not using Land Trusts, you should be.

Register for this Event
June 14
Cashflow 101 & 202 Game Night (South)

Wednesday 7:00 PM - 9:00 PM

Learn, network, and enjoy yourself with other investors at CashFlow 101 Night! Come Early and network. Networking starts at 6:30PM.

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June 14
Rehab Property Walk Through

Wednesday 7:00 PM - 8:00 PM

Rehab Property Walk Through

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June 15
Member Networking Luncheon!

Thursday 11:30 AM - 1:00 PM

Join us for an educational and fun Q & A session with Lynn Anderson, a seasoned real estate investor, coach and leader of Lifeonaire Connect Minneapolis subgroup.

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June 20
Landlord Tips and Tricks with (Katia) Yekaterina Harnois

Tuesday 6:00 PM - 8:00 PM

Landlord Tips and Trick with Katia-What to look out for to avoid costly Evictions

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June 22
W.I.R.E. Women In Real Estate IS BACK AND IN PERSON!

Thursday 7:00 PM - 8:30 PM

This group is open to women from all backgrounds! This is a focus group for women only. During the meetings we will talk about current deals that you fabulous women are working on and discuss the challenges and successes you are having.

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June 23
Buy-Sell-Trade Mastermind Group

Friday 10:00 AM - 11:00 AM

Bi-Weekly Mastermind group for creative deal structuring with real live opportunities.

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June 27
Lifeonaire Local Connect Group

Tuesday 6:30 PM - 8:00 PM

What are Local Connect Groups? They are groups that meet up monthly to discuss new, proven real estate investing strategies and Lifeonaire principles that work in the real world.

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June 28
Cashflow 101 & 202 Game Night (North)

Wednesday 6:00 PM - 10:00 PM

Learn, network, and enjoy yourself with other investors at CashFlow 101 Night! Come Early and network. Networking starts at 6:00PM. Games start at 6:30PM

Register for this Event
July 7
Buy-Sell-Trade Mastermind Group

Friday 10:00 AM - 11:00 AM

Bi-Weekly Mastermind group for creative deal structuring with real live opportunities.

Register for this Event
July 11
Main Monthly Meeting - Q & A with Mike Jacka and the Attorney

Tuesday 6:00 PM - 9:00 PM

Jaren Johnson and Mike Jacka: Multiple Topics and Q & A

Register for this Event
July 12
Wholesaling 101

Wednesday 6:00 PM - 9:00 PM

We'll cover the basics of wholesaling and a few advanced strategies.

Register for this Event
July 12
Cashflow 101 & 202 Game Night (South)

Wednesday 7:00 PM - 9:00 PM

Learn, network, and enjoy yourself with other investors at CashFlow 101 Night! Come Early and network. Networking starts at 6:30PM.

Register for this Event
July 13
House Hacking with Chafic

Thursday 6:00 PM - 8:00 PM

House hacking is the proper application of owner occupying a property, where a person buys a duplex, triplex or fourplex, lives in one unit and rents out the rest.

Register for this Event
July 18
Landlord Tips and Tricks with (Katia) Yekaterina Harnois

Tuesday 6:00 PM - 8:00 PM

Landlord Tips and Trick with Katia-What to look out for to avoid costly Evictions

Register for this Event
July 19
Rehab Property Walk Through

Wednesday 7:00 PM - 8:00 PM

Rehab Property Walk Through

Register for this Event
July 21
Buy-Sell-Trade Mastermind Group

Friday 10:00 AM - 11:00 AM

Bi-Weekly Mastermind group for creative deal structuring with real live opportunities.

Register for this Event
July 25
Lifeonaire Local Connect Group

Tuesday 6:30 PM - 8:00 PM

What are Local Connect Groups? They are groups that meet up monthly to discuss new, proven real estate investing strategies and Lifeonaire principles that work in the real world.

Register for this Event
July 26
Cashflow 101 & 202 Game Night (North)

Wednesday 6:00 PM - 10:00 PM

Learn, network, and enjoy yourself with other investors at CashFlow 101 Night! Come Early and network. Networking starts at 6:00PM. Games start at 6:30PM

Register for this Event
July 27
Networking Luncheon

Thursday 11:30 AM - 1:00 PM

All members will have a Q & A session with Dave Ehrenkrook, VP/Owner of Heritage Financial Group, LLC.

Register for this Event
July 27
W.I.R.E. Women In Real Estate IS BACK AND IN PERSON!

Thursday 7:00 PM - 8:30 PM

This group is open to women from all backgrounds! This is a focus group for women only. During the meetings we will talk about current deals that you fabulous women are working on and discuss the challenges and successes you are having.

Register for this Event

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This price is to good to pass up!!

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Long Term Rental or Flip and Fix in Brooklyn Park!

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