Re: Jim Piper – I Got it…Thanks! - Posted by Bill Gatten
Posted by Bill Gatten on May 04, 2000 at 13:36:56:
Thanks so much.
The reason I called you out on this one is because you and I got into this issue about a year ago, and I must confess: I really didn’t get the picture as clearly then as now (a little Cognitive Rigidity there). Nevertheless, I do now see exactly what you mean, and it makes all the sense in the world. Dealing in mostly $100K to upper end properties, I don’t run into this much from here (though we’ve done a few lower-end properties in the Midwest and in Florida, Virginia and Texas lately).
I think in these cases (low-end properties), the marketing of the benefits of owning must be tied solely to Appreciation, Equity Build-Up (from principal reduction), Pride of Ownership, merchantability, etc… Although “control” of the tax benefits is certainly a powerful selling point as well (“Mr. client, you have the full tax benefits at your disposal, their use being dependent, of course, upon your tax bracket and how you handle your deductions”).
However, Jim, from our standpoint (that of Investors) the functionality the a 3rd party trustee, co-bene title-holding land trust (can’t say “PACTrust”) STILL–none-the-less–provides the best protections and freedom from risk and ordinary investing concerns (distance from the DOS, ease of dispossession; freedom from the untoward or unforeseen negative actions of the respective parties; asset protection and shielding, etc.)…wouldn’t you agree?