LLCs for Rental Properties & "Layering" Legal Protection

LLCs for rental properties and asset protection are two of the most common legal topics brought up over on the BiggerPockets forums. So we figured we’d bring on an expert to separate the legal wheat from the chaff!

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 from that to minimize your risk when getting into this profitable industry of real estate investing!

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Join the Real Estate Rookie Facebook Group:
  / realestaterookie  
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Learn More about Asset Protection:
https://btblegal.com/
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Get Tickets to BPCon 2021:
https://www.bpcon2021.com/
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6 Ways to Protect Yourself from Negligence & Liability Suits When Starting Out:
https://www.biggerpockets.com/blog/pr...
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Follow Ashley and Tony on Instagram:
@wealthfromrentals or   / wealthfromrentals  
@tonyjrobinson or   / tonyjrobinson  

Episode 105

Show notes at: https://www.biggerpockets.com/rookie105

0:00 Intro
3:44 Welcome, Brian!
5:27 Brian's Investment Portfolio
8:16 Asset Protection
9:41 LLCs and Umbrella Insurance
13:31 Disregarded Entities, Charging Orders, and Anonymity
19:05 Advice for Tony
25:02 Advice for Ashley
26:11 Where to Set Up an LLC?
33:55 Taxes and Asset Protection
35:46 Planning for Asset Management
41:54 Finding an Asset Protection Attorney
45:45 Rookie Reply
52:19 Rookie Rockstar