106: Asset Protection for Rookies: 7 Wealth-Saving Answers from an Expert

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 21 August 2021

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Last episode, we had Brian T Bradley, Esq on to talk about all things related to wealth and asset protection. Now, he’s back to answer questions from the BiggerPockets Real Estate Rookie community. We’ll go over a handful of questions from different rookies in the community, questions like: Can I create an LLC and sell my property to it? Will converting a property from my personal name to an LLC trigger a taxable event? Can I put two properties in two different states in the same LLC? Will renting out a side of my duplex as an LLC protect me? How do I stop the commingling of funds when using many LLCs? Should short-term rentals be put under an LLC? How will financing change if my properties are in LLCs? And more in the episode… If you’re finding yourself at the $1M net worth mark and you’d like to protect your assets, check out Bradley Legal Corp or shoot Brian an email at [email protected]! In This Episode We Cover Which LLC structure makes the most sense for landlords How to protect your assets during your different stages of wealth How to set up limited partnerships when you have too many LLCs Protecting yourself when you are house hacking a property How your financing options may change when you buy properties in an LLC Where to hold short-term rentals so they stay protected And So Much More! Links from the Show Real Estate Rookie Youtube Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group Rookie Podcast 73: Partnerships: What to Do Before You Jump in With Another Investor BiggerPockets Calculator BiggerPockets Conference Click here to check the full show notes: https://www.biggerpockets.com/rookie106 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie, episode 106.
0:04.0	My name is Ashley Care, and I'm here with my co-host, Tony Robinson, and we are getting
0:11.1	super excited for the bigger pockets conference.
0:15.0	Make sure you guys get your ticket at biggerpockets.com for a slash conference, and we will see
0:20.6	you guys there because you listen to one-says episode, you guys found out that we are the
0:25.9	actual MCs of the conference, and we are so excited.
0:29.9	Yeah, super excited.
0:30.9	I mean, and we've got some really good keynote speakers lined up.
0:34.3	You got Hal Elrod, Brandon Turner, of course, Ken Crassini, David Green, Mindy, Scott,
0:40.0	myself, Ashley.
0:41.0	So, lots of really good people coming up on stage.
0:43.1	So, if you guys want to spend a couple days in New Orleans with all your favorite real
0:46.6	estate investors, then make sure you guys head over to biggerpockets.com for a slash conference
0:51.1	to pick up your tickets.
0:52.6	There is also going to be a panel on short-term rentals, and Sarah Robinson.
0:57.6	The one and only our hype girl is going to be on that panel, I'm so excited for that.
1:03.0	Yeah, so if you guys want to meet my lovely, crazy, energetic wife, then make sure you guys
1:07.3	come to that short-term rental panel as well.
1:09.7	So, today is going to be a part two of Wednesday's show, so if you didn't listen to that show,
1:15.6	go back and listen to it.
1:16.6	We brought on an attorney who specializes in asset protection, and today he is going
1:22.1	to be answering questions from rookie investors.
	...

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