Creating Wealth Real Estate Investing with Jason Hartman 1306 FBF: Asset Protection, LLCs, Corps, Etc. with Rich Dad Advisor Garrett Sutton, Part 1
Today's Flash Back Friday comes from Episode 947, originally published in January 2018.
Jason Hartman wanted to make sure that the practice of asset protection is understood by every investor, because it can make or break your portfolio if done wrong.
As such, he invited Rich Dad Advisor Garrett Sutton back on the show for a long, in-depth interview. We'll finish it up tomorrow with the second half, but today the two discuss the inside/outside attack on LLCs, discuss which states have weak and strong LLC protections, and how to protect your properties properly.
Key Takeaways:
[4:26] The impact of controlling the money
[7:58] How music has impacted societies around the world
[10:43] Want to go to the Icehotel in Sweden with Jason?
[13:11] The inside attack versus the outside attack
[16:54] California has the weakest asset protection laws in the union
[19:00] Why Wyoming LLCs can protect your other LLCs better than any other state
[23:34] If you have your state LLC inside a Wyoming LLC domesticated in your state, which state rules apply?
[25:44] Why is it called an "Armor 8" strategy and when is it a good choice?
[30:37] How the Wyoming LLC provided a win for a car wreck causer
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