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Robert Kiyosaki's Rich Dad Advisor & attorney Garrett Sutton stops by the podcast show to share his extensive expertise on asset protection strategies for real estate investors. Learn to protect your investment portfolio whether you are a small investor with just one or two properties locally, or a real estate mogul with millions of dollars worth or property spread across multiple states. This is your chance to learn from a true expert who is highly regarded in the real estate investing community. You can even have your asset protection setup by the same attorney used by Robert Kiyosaki.
Key Takeaways
- The first line off defense against a lawsuit is to have good business practices to begin with.
- Real estate investors are always at risk of a lawsuit, whether it be from a tenant, a worker on a rehab project or even if you are in a car accident.
- Attorneys like to go after insurance policies first. If there are too many obstacles in the way of them collecting, they are less likely to pursue a case against you.
- You can have multiple layers of asset protection by forming an LLC in a state which has very strong corporate laws; and the cost can be minimal.
Resources & Books Mentioned
Sponsors
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Topics Covered
- Why asset protection is so important for real estate investors.
- Methods investors should avoid when it comes to holding title to their properties.
- The best ways to take title to your property.
- Land trusts vs. an LLC
- Deciding how many properties or how much equity to put into a single LLC.
- Financing properties you plan to own in a LLC.
- Making sure your property insurance is setup correctly.
- The advantages of setting up an out of state LLC in Wyoming
- Understanding “Charging Order” protection.
- How to follow proper corporate formalities.
- What to do if you haven't followed the proper corporate formalities.
- Equity stripping as an asset protection strategy.
- The advantages of forming your own separate property management LLC for your own properties.
- The minimal costs associated with having strong asset protection.
