Hi, it’s Lou Brown. Welcome back to another of my 101 cash flow generators, cash flow accelerators. I want to help you be successful in this great game of buy, hold and sell. By the way, that’s the name of my upcoming book.
And one of the things that I’ve discovered in being in this business is that you have to put yourself in a position to win. And the way that you do that is that you take yourself again out of the position of receiving anything at your home. One of the things over time I’m going to teach you is that it’s very important that you create some privacy for yourself. Your residents should not know where you live. Your contractors should not know where you live. Any body. I mean, we all know people are getting crazy now and it’s just a better idea to put yourself in a position that you don’t, you all, your business is not in the street so to speak.
It’s a much better idea to get an office. Now this office is about this long and about this big and what I’m talking about is a mailing address at your local ups store or other pack mail, whatever may be common in your area. And that becomes the address that all bills are sent to that your property tax reports are sent to. That your residents send their rent to. I recommend that you get your mail, your address, also public record. Now one of the things I referred to in another video is to take your name off public record and transfer your property. Your all resident into trust. Trusts have about 30 different benefits. And one of them is probate avoidance when you’ve already got the property in trust. Another is privacy so that you are not on public record as the current owner of the property.
The trust is the owner of the property. You may be a beneficiary of that trust, but that is not published out in the public. And so that’s something that I want you to learn about. It’s very critical and important that you set up a good solid estate plan. And part of the process is to notify your residents that you no longer own the property because it’s now in trust. And that you are now the manager of the property and the new owners want the rent mail to this new address. And so setting up that address also again, helps you to transfer that burden of ownership to the trust and take it off of your shoulders.
Well, I hope that’s been helpful to you. It’s been a very valuable thing for me in my business and I’ve helped people all across the country. We have licensees of our system in all 50 States. We have many many owners of my whole enchilada system, the whole enchilada, real estate investing. You can learn more about that StreetSmartInvestor.com and know that I’ve got a lot of different information to share with you about building an amazing multi-million dollar real estate business. I look forward to seeing you soon. Like this. Love this. Share this. And do Subscribe.. Take care. Yeah, baby!
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