02-26-18 Real life Marty Byrdes?

Who is Marty Byrde?  He's the lead character in Netflix's Ozark played by Jason Bateman.  The drama is excellent and in typical Netflix style well worthy of gobbling down ten episodes on a rainy weekend binge.

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For those who haven't seen it Marty is a financial advisor who has turned his practice into a specialty where he actually does put real money in the dryer to add that same weathered look to paper that you might see someone trying to attempt to a dining room table on HGTV.

Well, this morning I'm looking through my alerts in preparation of today's email and I find several articles in my alerts about the problems Canada and the UK are experiencing as a hot-beds for the Marty Byrde types and they are using real estate to do it!

Actually, two methods that we use here in the US as investors with entirely different objectives.

The first method involves the use of land trusts where, per the news stories, one quarter of the luxury homes in Vancouver in 2016 were owned by housewives and students.  These straw-buyers and known as "nominees" who show up in the public records while the real beneficiary remains hidden in the trust documents.  Oh wait...Canada doesn't have public records in the same way the US does which further aids to the shadowing the real owner.

Here in the US we tend to utilize land trusts with a similar goal of not making the real owners identity exceptionally obvious but our goals generally center more around asset protection, passing property to heirs, etc.

The second method involves buying a modest sized, though older home, that sits on a nice sized lot and then replacing it with a McMansion sized structure.  While we do similar upsizing here in the metropolitan areas of the US it occurs with the full intention of reselling the house for a profit.  In Vancouver they are just letting the building idle unoccupied and as a store of cash in construction costs.

Finally, in the UK they are starting to see a trend where shadowy funds from the cryptocurrency world are being utilized to purchase luxury properties.  Similar to Vancouver, London doesn't have a mechanism to record who owns the properties within its borders.

Interesting times we live in for sure.  Can you imagine living in an area where land records weren't maintained and publicly available?  Any concerns that US legislators will make changes to our systems based on the what is happening elsewhere?  Drop me a line and let me know what comes to mind.


As part of most lenders documentation you'll sign something along the lines of a Zero Tolerance/Fraud Policy document.  I think the above highlights reasons why lenders maintain such cautions.

Did you get anything under contract this weekend that you are ready to get funded going on?  If so, drop me an email at letstalk@fundingresolved.com and let's get that process started for you ASAP!

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