109: You Will Get Sued. Here’s How To Survive with Attorney Scott Smith
No one wants to get sued, but if you plan to build a real estate empire, the question is not so much “if” but “when.” However, we here at BiggerPockets have your back, so today we are bringing on Scott Smith, an incredibly smart and funny asset protection attorney from the great state of Texas! Scott shares with us a variety of tools and tactics you can use in your real estate business to protect yourself from losing the wealth you are working so hard to create.
Be prepared to learn new tips you’ve probably never heard before regarding umbrella policies, building your real estate team, LLCs, trust funds and more. Don’t miss out on this information-packed episode!
In This Episode We Cover:
- Forming an LLC right off the bat
- The ins and outs of Insurance vs. Assets
- Ten things you need to know to protect your assets
- What exactly an Umbrella Policy is and why it might not do what you think it will
- Why you shouldn’t put all your properties under one name
- What you should know about the Delaware Statutory Trust
- Scott’s advanced strategies for real estate investors
- Everything you need to know about LLCs vs. Trust Funds
- Who you need as part of your team when investing
- And SO much more.
Links from the Show:
- BiggerPockets Webinar
- BiggerPockets Wholesaling Calculator
- Trivia Email
- 10 Ways to Protect Your Assets — This document was prepared by Scott Smith to accompany this podcast presentation.
- BiggerPockets Podcast Show 105 with Neal Frankle
- BiggerPockets’ Investing in Real Estate with No Money Down
Books Mentioned in this Show
- The 4-Hour Workweek by Timothy Ferriss
- Rich Dad Poor Dad by Robert Kiyosaki
Tweetable Topics:
- “Rich people don’t own things, rich people control things.” Share on Twitter
- “You don’t really have any friends once you start getting sued.” Share on Twitter
Connect with Scott
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