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 CoverWhy everyone needs a “base layer” of protection when owning real estateWhat asset protection is and how it benefits investorsWhen and how to set up your LLCs for different propertiesHow many properties should be housed under one LLCDisregarded entities, charging orders, and anonymityDesigning a blueprint for your real estate portfolio How to find the best CPAs, attorneys, and legal professionals for your real estate businessAnd So Much More!Links from the ShowReal Estate Rookie YoutubeAshley's InstagramTony's InstagramReal Estate Rookie Facebook GroupLLC or Umbrella Insurance: Which Is Better for Investors?BiggerPockets CalculatorBiggerPockets ConferenceCheck the full show notes here: https://www.biggerpockets.com/rookie105

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