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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Ward, an LLC/THT Follow up... Kosher? Posted by KenFleming.com on September 03, 2003 at 12:49 AM In Reply to: Trust vs corporation?? Trust works best. posted by Ward-CA- on September 02, 2003 at 1:37 PM Hi Ward, new business in formation again... I've been skilled/fortunate enough to secure OPM (Other People's Money) for the purpose of 50/50 foreclosure investing (at the TS) by beating the streets and cranking out reports that speak for themselves. I provide the find-em/fix-em/sell-em (and all associated costs) and they provide the "flash-cash" as you call it for purchases (we split holding costs and payoff all flash and repairs and then split profit 50/50). We plan on structuring the ownership as follows... My LLC and their LLC own a third LLC with rules governing eachothers rights and responsibilities. That 3rd LLC would "own" the THT, and properties would be taken in the name of the THT not the 3rd LLC. The Cert. of Trust would show payoff checks to be made out to the 3rd LLC. Does this look Kosher? Any special thoughts, or ammendments to specific lines of the Cert. of Trust to make sure the payoff check goes to our 3rd LLC, but doesn't alert the lender (THT holds title)? ps, Saw you the month before last. If I EVER win that ticket I WONT raffle it off! -KF Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Hi Ward, new business in formation again... : I've been skilled/fortunate enough to secure OPM (Other People's Money) for the purpose of 50/50 foreclosure investing (at the TS) by beating the streets and cranking out reports that speak for themselves. I provide the find-em/fix-em/sell-em (and all associated costs) and they provide the "flash-cash" as you call it for purchases (we split holding costs and payoff all flash and repairs and then split profit 50/50). We plan on structuring the ownership as follows... : My LLC and their LLC own a third LLC with rules governing eachothers rights and responsibilities. : That 3rd LLC would "own" the THT, and properties would be taken in the name of the THT not the 3rd LLC. : The Cert. of Trust would show payoff checks to be made out to the 3rd LLC. : Does this look Kosher? : Any special thoughts, or ammendments to specific lines of the : Cert. of Trust to make sure the payoff check goes to our 3rd LLC, : but doesn't alert the lender (THT holds title)? : : ps, Saw you the month before last. If I EVER win that ticket I WONT raffle it off! : -KF Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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