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 batThe ins and outs of Insurance vs. AssetsTen things you need to know to protect your assetsWhat exactly an Umbrella Policy is and why it might not do what you think it willWhy you shouldn’t put all your properties under one nameWhat you should know about the Delaware Statutory TrustScott’s advanced strategies for real estate investorsEverything you need to know about LLCs vs. Trust FundsWho you need as part of your team when investingAnd SO much more.Links from the Show:BiggerPockets WebinarBiggerPockets Wholesaling CalculatorTrivia Email10 Ways to Protect Your Assets — This document was prepared by Scott Smith to accompany this podcast presentation.BiggerPockets Podcast Show 105 with Neal FrankleBiggerPockets’ Investing in Real Estate with No Money DownBooks Mentioned in this ShowThe 4-Hour Workweek by Timothy FerrissRich Dad Poor Dad by Robert KiyosakiTweetable 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 TwitterConnect with ScottScott’s BiggerPockets ProfileScott’s Email Address