OfflineDoes anyone know how you fill out a POF for a land trust?
Carol says you would fill out the land trust with the name of the address, such as, 213 ELM Street trust. But when I just went to fill out the POF for my property I offered on, I wasn't sure if I should put my name and/or company name, or I somehow think it should be in the name of the trust, right? Anyone? Thanks, Tammy
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Make the offer in the name of the Trust and you sign as Trustee of the Land Trust.
Michael
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
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Not sure if I am supposed to do that. But he will probably buy my beneficial interest anyway. I could have several POf's.
I haven't really put out a bunch of offers yet. But planning to do so soon. If I remember I'll come back and let you know how it went.
-Chris and Kether Sprague
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Want off market sellers to call you? I think writing letters to vacant home owners is a great marketing avenue. I have vacant homes in every state! With the owners address! I want to partner with other wholesellers. If you are interested, please PM me! -- This is how I got my first deal, and I will give you leads and help you build your/our team! if you don't have them already.
The way I did it was I went to ABCFUNDINGUSA.com and they provide POF's and where it says to put your name I put the name I choose for my land trust and thats pretty much it. I send the new POF to my agent and she already started submitting offers with the land trust name. Carol also got back to me on a PM on IE and told me I could use my name on the POF because I'm listed as the trustee. Hope this helps you
Reynold Orozco
not sure if Michael understood the question. I understand how to offer in the trust, but the POF is different. Yes, Reynold's seems to do what I finally decided on and that is to put my name, since it asks for first and last name on the POF and I am signing as the trustee, so that makes sense. The POF also asks for the company name, but not sure if I should put that down since I am not offering under the company name, but rather under trust.
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
When offering in the name of a trust or LLC that entity needs to be listed as the buyer on the POF. After all that is the buying entity. Thought that was self explanatory. Then you can sign the POF (if Needed) as the trustee or managing member. My POF simply lists the buyer, no place for me to sign.
Good luck on the purchase,
Michael
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
Michael that makes perfect sense, but my POF says first and last name, so I would just put down the trust name? I am signing as the trustee, so thought that should go on there as well. Any ideas Michael? Tammy
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.