Hello,
We have just acquired several pre-foreclosure properties in Nevada. They were assigned to our LLC. The original owners are now our tenants thru a lease/buy back agreement that will become executable no later than 12-24 months (depending).
How do we best use a LLC AND Land Trust to protect both our personal assets and privacy during these transactions? Please explain the handling of the deed, mortgage, etc.
Also, we are considering pulling the equity (there is a significant amount) out prior to the buy back execution, since the previous owners have to acquire the home back at current market value at the time of executing the option. What is your opinion on this? If we did refi, what is the process using the LLC and Land Trust to protect our assets and privacy? I am a bit naive about this, but instead of refi, would it make sense for the Land Trust to purchase the home from the LLC?
Thanks for your help! ???