Hi everyone, as a newbie, I want to begin my investment career but I need to know if using land trust in NJ is legal. This would be a releave to me if it’s a yes. And if it is, do I need to use quit claim with it as I need to own the properties to be able to sell them. Thanks in advance for your help.
PS. Also do I record both or only one and which one that is?
Just do your deals and forget about land trusts. They are estate planning tools, not business tools.
Thanks but can you give me something to chew on like what’s an
alternative as a beginner who have read a ton of investment books
and trying to get a feel of where to start.
I am considering a couple of stratagies like:
Lease or purchase options
Short sales and so on.
But as a beginner, what’s the best to start with?
I would repost this query in the general RE forum. You will get better answers.
How much time and money do you have? How is your credit and asset position? If you no cash, you need to focus on things that require no cash (lease options, sub2, birddoging). You could also find deals and then sell your interest. If you have access to cash, then short sales and other purchase techniques become an option. It really depends on your situation and your market.