Hi,
I am a newbie to this site, aldo I am reading the postings about investing for quiet a while, and have learned more about Real Estate investing then from my courses I have purchased.
I have my first subj2, have the deed signed and notarized - so far so good - now my question:
Do I record the land trust, and do I have to create a LLC first ???
Your answer is greatly appreciated! ! !
Happy Hunting! 
Flip
The deed if you are using a land trust usually goes into the trustees name at the time of purchase. If you are using a LLC or other entity it is usually best to have created it first and then to transfer the title.
Sounds to me like you are putting the cart before the horse.
Did any of your courses that you did buy tell you anything about the order in which to do things?
Not that holding the property in your name is a bad thing per say at least on the first one, but it does open you up to a lot of liability.
There are many reasons to use a Land Trust, not all of them good. Be sure you understand the way a land trust works before you try to set one up. You would probably want to check with a lawyer from your state to find out the correct way to set one up.
Thank you very much for your advise!
After I’ll thought things over, I came to the same conclusion; its best to involve an attorney, and yes your right I rushed, but there is nothing really broken (I think), I still can set-up a LLC, and find tenant-buyer for this proberty - right?
Thanks! !
Yes consult with and attorney but most do not know how to structure Illinios title holding trusts unless they obviously had worked with them so do your homework.
If possible you would want to have your LLC formed but if time does not allow setup the trust then you can do a substitution of beneficiary and add the LLC later on.
The deed is in your name and you now have legal title so would vest title to your designated trustee and they would then upon accepting the title vesting now own the properyt but you will now direct them if you are using beneficiary directed trusts which is highly recommended.
You are not wthe settlor or grantor beneficiary and can assign beneficial interest to another investor or partner should they wish to invest with you etc…
You can of course bring in your tenant buyer and we use a triple net lease for the tenant if not you may have to use a separate lease for the tenant.