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161: You Must Be Weird | Common Asset Protection Mistakes, and LLC Updates featuring Garrett Sutton

161: You Must Be Weird | Common Asset Protection Mistakes, and LLC Updates featuring Garrett Sutton

FromGet Rich Education


161: You Must Be Weird | Common Asset Protection Mistakes, and LLC Updates featuring Garrett Sutton

FromGet Rich Education

ratings:
Length:
41 minutes
Released:
Jun 27, 2018
Format:
Podcast episode

Description

#161: What makes you weird makes you successful. Embrace what makes you “abnormal”. Why? Because being wealthy isn’t normal. Inflation transfers wealth from lenders to borrowers. Therefore, be a smart borrower. Next, Rich Dad Advisor Garrett Sutton joins us with updates to protect yourself and your real estate with Limited Liability Companies (LLCs). His website is CorporateDirect.com. We learn about common asset protection mistakes. Garrett tells us why flip properties and buy-and-hold properties should be in separate LLCs, and more. When you establish a Wyoming LLC which presides over your other LLCs, you get better protection and you reduce your audit risk. LLCs vs. LPs also discussed. Want more wealth? 1) Grab my free E-book and Newsletter at: GetRichEducation.com/Book 2) Actionable turnkey real estate investing opportunity: GREturnkey.com 3) Read my new, best-selling paperback: getbook.at/7moneymyths Listen to this week’s show and learn: 00:50  What makes you weird? Embrace it. That’s often what makes you wealthy. 05:54  The New Orleans Investment Conference. 07:37  I'm the newest writer at Forbes. 09:55  Inflation transfers wealth from lenders to borrowers. 12:57  Garrett Sutton interview begins. 15:05  Common asset protection mistakes. 16:37  Buy-and-hold vs. flipping and asset protection. 18:55  Does every property need its own LLC? 21:04  LLCs in multiple U.S. states. What makes Wyoming special. 24:17  Reducing your administrative time in maintaining your LLCs. 24:50  Lower your audit risk. 26:33  California. 29:58  LLCs vs. Limited Partnerships (LPs). 32:41  Living Trusts. 34:34  New IRS rule to conform with by December 31st. Resources Mentioned: CorporateDirect.com | 1-800-600-1760 RidgeLendingGroup.com GetRichEducation.com GREturnkey.com
Released:
Jun 27, 2018
Format:
Podcast episode

Titles in the series (100)

This show has created more financial freedom for busy people like you than nearly any show in the world. Wealthy people's money either starts out or ends up in real estate. But you can't lose your time. Without being a landlord or flipper, you learn about strategic passive real estate investing to create wealth for yourself. I'm Show Host Keith Weinhold. I also serve on the Forbes Real Estate Council and write for Forbes. I serve you ACTIONABLE content for cash flow on a platter. Our bottom line in real estate investing together is: “What’s your Return On Time?” Where traditional personal finance merely helps you avoid losing, you learn how to WIN. Why live below your means when you can expand your means? Since 2002, international real estate investor Keith Weinhold owns multifamily apartment buildings to single family homes to agricultural real estate. New episodes are delivered every Monday.