Real Estate Investing and Asset Protection
This post is a bit of a departure from our usual posts. Last Saturday, Colin and I went to the Seattle Investor’s Club meeting to talk their real estate investors how to use asset protection to protect themselves.
We got a lot of really great questions about asset protection. The people at the Seattle Investor’s Club are a great, diverse group of folks. There are newbies, veterans, service providers, and active investors. There are people who focus on short sales, holding long term properties, or commercial real estate.
Here are some highlights from our asset protection talk for real estate investors:
- Asset protection is a ladder. Start with insurance, but don’t expect insurance to cover everything.
- LLC’s are good for real estate investments. If you are a single-member LLC owner (or spouse-owned LLC owners), then there are some special considerations that you need to take into consideration. It may not be as protective as you think it is.
- A lot of lawyers recommend out-of-state entities. They can be great for you and your real estate. Just make sure that you are maintaining the jurisdiction.
The link to the talk is below, but technology is a fickle creature sometimes. It cut short. Do not fret! Stay tuned for an upcoming Asset Protection webinar where we do the talk all over again, from start to finish.
Link to the video:
Colin Ley is a Seattle estate planning attorney. He is also the co-founder of LayRoots along with his wife, Shreya.