105: Don't Lose Your Portfolio to Lawsuits! Here's How to Protect Yourself

As a rookie, you’re in the best position possible to start protecting your growing empire of rental properties, but what’s the best way to legally shield yourself from liability and litigation? We talk to awarded asset protection attorney, Brian T Bradley, Esq, who answers questions ranging from when to buy umbrella insurance, how to set up LLCs, and whether or not S-Corps are worth forming. If you’ve ever worried about protecting your personal assets from business-related liability, this is THE episode to watch! The most important point discussed throughout this episode is how you need to start planning for protection early. All too often, investors start building their rental property portfolios without the correct legal setup behind them, only to have one bad lawsuit wipe out decades worth of work. Even Ashley and Tony had some questions on whether or not they needed to shift their portfolio structures! We’ll also have Brian back this Saturday to answer Q&As from listeners, so stick around for that show to minimize your risk when getting into this profitable industry of real estate investing! In This Episode We Cover Why everyone needs a “base layer” of protection when owning real estate What asset protection is and how it benefits investors When and how to set up your LLCs for different properties How many properties should be housed under one LLC Disregarded entities, charging orders, and anonymity Designing a blueprint for your real estate portfolio How to find the best CPAs, attorneys, and legal professionals for your real estate business And So Much More! Links from the Show Real Estate Rookie Youtube Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group LLC or Umbrella Insurance: Which Is Better for Investors? BiggerPockets Calculator BiggerPockets Conference Check the full show notes here: https://www.biggerpockets.com/rookie105 Learn more about your ad choices. Visit megaphone.fm/adchoices