To all the veterans here. what is your opinion on structuring a sub2 as follow?
- Purchase contract signed
- Creat land trust (using sellers name and address for trust name)
- List seller as beneficiary
- Assign seller’s beneficiary interest to my LLC
- Get new non-owner occupied insurance under my LLC (Any recommended company in NJ?)
- Get an umbrella liability policy for $100,000 (any recommended company in NJ?)
- Transfer all utilities to my LLC
Does this seem complete? Anything I should consider adding? Anything I am missing?