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Ken McElroy Show

Hidden Benefits of a Limited Liability Corporation with Garrett Sutton

Ken McElroy Show

Ken McElroy

Business, Investing, Education, Business News, News

4.8692 Ratings

🗓️ 24 July 2019

⏱️ 15 minutes

🧾️ Download transcript

Summary

In their second conversation for the podcast Ken McElroy and Garrett Sutton talk about the benefits of a limited liability corporation. Ken talks about the challenges that he has faced over his career as a real estate entrepreneur and Garrett explains that creating an LLC isn't as complicated as most investors think.Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome to the Real Estate Strategies podcast.

0:03.7

I'm Ken McRoy and I'm here to give you creative ideas on how you can get started or continue your journey in real estate.

0:10.8

Each week we will bring you inspiring and informative conversations with successful people and their path to obtaining or investing in real estate.

0:19.8

Enjoy the episode.

0:24.1

Hey everybody, it's Ken McElroy. I'm here with Garrett Sutton, fellow Richstad

0:28.0

advisor. And as you know, we talk about real estate investing for the entrepreneur.

0:33.1

Garrett and I have spoken all over the world together. He is an attorney. He lives in Reno, Nevada, and he is the premier attorney when it comes to asset protection

0:44.6

and putting your real estate assets into some type of vehicle so that when and if you do

0:52.2

get sued, and trust me, you will.

0:56.5

You're pretty protected.

0:58.5

Hey, Garrett, good seeing you again.

1:00.0

Good seeing you, Ken.

1:02.7

So, yeah, thank you.

1:08.7

I know you've written all these books, and obviously we've spoken all over the world, but the one book that I love is the loopholes of real estate.

1:14.6

Yes, that book there is a great book. And, you know, one of the, I wanted to pick just a chapter in there.

1:23.2

Actually, I want to talk about a couple things. One is piercing the corporate bail, but the other are homesteads. And I think that homesteads is kind of misunderstood, right? And this one I think will

1:34.6

hit to the core of most people, anybody that owns a personal residence, right? Right.

1:41.2

So let's dive right into homesteads and what people can do to protect themselves.

1:46.7

Well, yeah, your personal residence, you want to be able to protect that first and foremost.

1:51.6

Your spouse will be upset if you lose the house.

1:54.3

So we want to protect your personal residence.

1:57.5

And the best way, the first way we look at protecting that is with what's called the homestead exemption.

...

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