We had some great questions pour in this week from students around the country. Check them out below with Ron’s very candid answers. Perhaps there’s a question there that’s been keeping you up at night.
- How do you ensure your seller does not steal your buyer?
- My seller will never meet the buyer. The goal is to buy the house and then install the tenant buyer. I never show a house with the sellers still in it.
- How do you handle showings when property is a rental and not owner occupied by seller?
- As above I would not show an occupied house. I don’t start marketing it until after it’s vacant.
- How do you prevent a HELOC from being called due?
- I can’t prevent it but I can work with the bank to stop it if they ever attempted to foreclose.
- If at your death your beneficial interest may decide to sell the property they inherit from the trust. I know that if it were willed to them, they would be able to get an appraisal and use that as their cost basis for tax purposes. I assume the cost basis will be the original price paid if it is transferred by the trust. Is this correct?
- Their basis is the same as the deceased. No one even knows the deceased had the property if it was in a land trust.
- If I were to get your website for deals, what format will the name have? I am thinking your domain will be part of the name, if so it may affect search engine optimization.
- I’ve never put my name in the URL and frankly it doesn’t matter much because most of your traffic will be people punching on links anyway.
- How do you ensure your seller does not know the details of your sale to a renter/owner?
- Because I wouldn’t share it with them and never put the two together but really don’t care because I have a contract and the seller just can’t break it because they want to.
- What changes has Trump made in regards to Dodd/Frank?
- I don’t know but Dodd Frank is not something you should be concerned about.
