Asset Protection for Real Estate Investors with Garrett Sutton

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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

  1. The first line off defense against a lawsuit is to have good business practices to begin with.
  2. 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.
  3. 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.
  4. 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.

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