Without asset protection, your wealth is as good as gone. One slip and fall from a tenant, one angry ex-spouse, one jealous onlooker, and you could have your real estate relinquished and your bank accounts drained. And as the economy continues to get even more rocky, lawsuits that threaten your hard-earned nest egg are becoming more and more common. So, how do you build a legal fortress around your fortune?
Brian T. Bradley, Esq., our go-to asset protection expert, is back on the show with news that could affect all real estate investors. A recent case surrounding LLCs (limited liability companies) has completely changed the landscape for investors, businesses, and anyone who operates within an LLC. Now, the LLC you so carefully set up could mean nothing if you eventually get sued. But there is something you can do about it.
In this episode, Brian goes over the changes in this new LLC law, how you can start protecting your assets (even if you only have a couple of properties), how to NOT commit “accidental fraud,” and the rise of “Robin Hood” lawsuits you MUST protect yourself against.
In This Episode We Cover:
The asset protection “layers” anyone can use to protect themselves from lawsuits
A new court case on LLCs that could change the way business is done
“Piercing the veil” and mistakes you’re probably making that could cost you everything
The “accidental fraud” actions MANY investors make when protecting their assets
Why you NEVER want to put your rental properties into an S-Corp
The rise in “Robin Hood” lawsuits that target wealthy, successful investors
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Youtube Channel
BiggerPockets Forums
BiggerPockets Pro Membership
BiggerPockets Bookstore
BiggerPockets Bootcamps
BiggerPockets Podcast
BiggerPockets Merch
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Davids's BiggerPockets Profile
David's Instagram
Subscribe to David’s YouTube Channel
Rob's BiggerPockets Profile
Rob's Instagram
Rob's TikTok
Rob's Twitter
Rob's YouTube
How to “Layer” Legal Protection So Lawsuits Won’t Touch Your Wealth
Don’t Lose Your Portfolio to Lawsuits! Here’s How to Protect Yourself
Asset Protection for Rookies: 7 Wealth-Saving Answers from an Expert
10 Landlord-Tenant Laws Every Landlord Should Know
Books Mentioned in the Show:
Pillars of Wealth by David Greene
Connect with Brian:
Brian's BiggerPockets Profile
Brian's Website
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-838
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
BiggerPockets Real Estate Podcast