Is trust necessary if only holding for short time? - Posted by Ken_GA
Posted by Ken_GA on October 11, 2003 at 16:51:55:
Hello to all,
Just looking for some opinions (pros and cons) on this situation.
I will be buying a SFH sub2 at a fairly deep discount. The first is an old VA and there is no DOS in effect. There is a second to CitiFinancial.
The property only needs minor rehab ($8-12K) and I should be able to resell quickly. I anticipate 3-4 months since I’ll be selling below market (even with the repairs).
Is the value of putting the property into a trust negated by my short holding time? In other words, would it not be easier to just take title personally so as to avoid any hassle w/ my potential buyer and/or their lender that may arise if I were to have taken title to the property in a trust?
I look forward to your responses.