Posted by Darrin (GA) on March 08, 1999 at 01:13:58:
I have a client who manages a trust worth $780 million. He is also searching for a way to buy houses in the name of the trust without having an individual personally responsible. He is even willing to set aside an amount equal to the balance due in an account sort of like a secured credit card except for mortgages.
When I ask lenders they just say, “Huh??” Is there some way to do this? Come on guys… Put those law degrees to work. 
Darrin
CAN I BUY A PROPERTY IN THE NAME OF A TRUST/CORP/LLC?? - Posted by KEN
Posted by KEN on March 06, 1999 at 17:05:44:
I REALLY WOULD LIKE–ONCE AND FOR ALL THE ANSWER TO THIS QUESTION.
SIMPLY PUT–PERSONAL CREDIT WAY BEYOND REPAIR RIGHT NOW AND EVEN IF IT WAS PERFECT I WOULD NOT PURCHASE PROPERTY IN MY NAME FOR ASSET PROTECTION REASONS (THANK YOU BRONCHICK GROUP). SO THEN THE QUESTION BECOMES–HOW CAN I PURCHASE AND HOLD TITLE AND CONTROL REAL ESTATE IF IT IS NOT IN MY NAME. CAN I BUY IT IN THE NAME OF A CORP./LLC/OR A TRUST–OR THE KEY QUESTION IS–DO I NEED ONE INDIVIDUAL TO QUALIFY FOR A HOME LOAN AND THEN HAVE THAT INDIVIDUAL TRANSFER IT TO MY CORP/LLC/TRUST. PLEASE–PLEASE–HELP!!!
Is it too much to ask to turn off the CAP LOCK? - Posted by HankM
Posted by HankM on March 06, 1999 at 17:24:31:
Yes you can take title however you wish, but you’re only asking half the question. If you are getting conventional financing and your corp is nothing but a shell, the bank will look for personal liability and they will look at your credit.
Having the corp is a good thing for flips and other quick stuff because of the tax advantages and the asset protection and liability limitation. But the whole point is that none of those things overcome the way an institutional lender views the world.
Form the corp, use the corp, but do creative real estate and avoid the banks … I say that cause I help run one (a bank that is) [don’t tell the President he hates it when I say banks aren’t the best for everyone… me included, OK?]
Hank