878: Protect Your Assets Like Robert Kiyosaki - Interview with Garrett Sutton - Episode 878

Investing in Real Estate with Clayton Morris | Investing for Beginners

Clayton Morris

Business News, News, How To, Business, Education, Investing

4.1 • 1.1K Ratings

🗓️ 15 September 2022

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Asset protection is a critical aspect of any real estate investing business. And sadly, it's something that many investors overlook until it's too late. In the event of a lawsuit, it's important that your legal entities are set up to protect your personal assets. On today's show, I'm bringing in the most qualified expert I know to discuss asset protection for real estate investing.

On this episode of Investing in Real Estate, I'm sitting down with Garrett Sutton. Garrett is an attorney, bestselling author, Rich Dad Advisor, and the founder of Corporate Direct. In his new book, Veil Not Fail, Garrett shares important strategies for reducing your liability in the event of a lawsuit. Today you're going to hear some of his best tips on legal entity structure, corporate formalities, insurance for rental properties and so much more!

Transcript

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0:00.0	Welcome to the investing in real estate show. I'm Clayton Morris. So glad to have you here.
0:10.0	Today on the show we're joined by Rich Dad Advisor and Legal Expert Garrett Sutton.
0:14.4	He's an old friend of the show. He's a great legal mind. He is of course the legal mind.
0:18.3	I think the brain, the legal brain of Robert Kiosaki, of course.
0:23.3	He's the author of the number of excellent books that we've read,
0:26.5	like one of my favorites is the loopholes of real estate investing.
0:30.3	He's out with a brand new book, though,
0:32.2	which might blow them all away. It's called
0:34.5	veil not fail protect your personal assets from business attacks. I love how
0:41.1	concise that is.
0:42.5	Garrett, welcome back to the show, my friend.
0:44.3	Great to have you back.
0:46.8	Thanks, Clayton.
0:47.4	Great to be with you again.
0:49.1	Yeah, so glad to have you here.
0:50.5	So the new book, Vail veil of course referring to corporate veil right
0:58.9	correct and what is a corporate veil and why do we need to think and why do we need to protect that or is it is it just like a myth the idea of a veil is kind of a mythical thing?
1:10.3	No it's a real thing I, every state has cases about piercing the corporate veil.
1:16.0	So when you set up a corporation or an LLC, you're setting it up for limited liability protection.
1:22.0	You don't want someone suing the corporation to be able to get
1:26.1	past the boundaries of the corporation to your personal assets. So that's the veil of protection.
1:32.4	When you set up the entity, you have this veil. So that's the veil of protection.
	...

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