Posted by Brent_IL on February 20, 2002 at 19:50:54:
Who knows. Maybe he doesn’t want a big tax hit this year and wants to spread things out. Why worry about it? If the properties check out, go for it.
land trust - Posted by brian
Posted by brian on February 20, 2002 at 18:04:33:
a gentleman i contacted today to buy some of his properties offered me a deal that seems too good to be true.
i was willing to pay all cash a little below what he was asking (205k) but he told me he would sell the properties in a landtrust and hold financing w/ a small amount down, maybe 10k. w/ the payments he qouted me i’m looking at about 1500 month positive cashflow before i pay my property manager, taxes and insurance.
why would he want to do this in a landtrust?
thanks
brian
Re: land trust - Posted by JamesL
Posted by JamesL on February 20, 2002 at 19:59:30:
It’s a possibility that he wants to keep writing off the interest paid on his mortgage, and his appliance depreciation, etc.