Sub-2 Approach

General Real Estate Investing
1

To all the veterans here. what is your opinion on structuring a sub2 as follow?

  1. Purchase contract signed
  2. Creat land trust (using sellers name and address for trust name)
  3. List seller as beneficiary
  4. Assign seller’s beneficiary interest to my LLC
  5. Get new non-owner occupied insurance under my LLC (Any recommended company in NJ?)
  6. Get an umbrella liability policy for $100,000 (any recommended company in NJ?)
  7. Transfer all utilities to my LLC

Does this seem complete? Anything I should consider adding? Anything I am missing?

2
  1. Sign Purchase contract

  1. Open Purchase escrow

  2. Offer House for sale while under contract to purchase

  3. Sign resale contract with condition of “Subject to seller obtaining title”

  4. Open escrow to resale

  5. Close Purchase escrow

  6. Close resale escrow

  7. Put money in bank account
    .