Passive Real Estate Investing Asset Protection for Real Estate Investors | PREI 010
Aug 7, 2015
Clint Coons, a successful real estate investor and manager at Anderson Business Advisors, shares his wealth of knowledge on asset protection strategies for real estate investors. He discusses the critical need for integrating legal and tax strategies, emphasizing personalized business structures over generic ones. Clint debunks myths about simple solutions, highlighting the complexity of setting up LLCs for risk management. He also dives into the vital roles of insurance and land trusts in maintaining anonymity and safeguarding investments.
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Asset Protection Objective
- Asset protection involves controlling assets while appearing to own nothing.
- It requires understanding both legal and tax implications, which many professionals overlook.
Unpredictable Liability
- Understand potential liabilities like toxic mold, fire damage, and insufficient insurance.
- Implement entities to prevent one catastrophe from wiping you out financially.
Fire and Bankruptcy
- A client's tenant caused a fire that damaged a neighboring property.
- Insufficient insurance led to the client's bankruptcy.
