The Good, Bad, and Ugly of LLCs for Real Estate Investors with Garrett Sutton

Garrett Sutton is a rich dad advisor and an attorney at law is dedicated to helping business owners protect their corporate veils from being pierced by numerous liabilities and lawsuits. Sutton has been a business owner for over 35 years, and with a background in law, he is an expert on the various legal formalities and how to protect corporate companies from unwarranted liabilities. In his most recent book, “Veil Not Fail,” he discusses a wide range of difficulties and lessons learned as well as several methods and approaches for avoiding these mistakes. He shares his authenticity, honesty, and lessons learned from his experience in order to assist entrepreneurs in becoming familiar with and establishing themselves in the formalities of the law and effectively protecting their hard-earned businesses.

 

 

[00:01 – 06:30] Opening Segment

  • Corporate entities with rich dad advisor, Garrett Sutton
  • Garrett talks about his law background and how he ends up being a rich dad advisor
  • Veil not stale by Garrett Sutton

 

[06:30 – 18:03] The First Steps of Creating Protection of Your Business

  • Publicize yourself operating through an entity rather than your own
  • Why you should choose LLC as your business entity
  • State corporate laws and which state is best to choose
  • Have an umbrella policy of insurance

 

[18:03 – 27:36] Strategies to Protect your Business

  • Be educated on the formalities of the law
  • Have a registered agent in the state where the company was formed
  • Follow the formalities of state laws

 

[27:36 – 30:11] Closing Segment

  • Quick break for our sponsors
    • The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at escapingwallstreet.com
  • What is the best investment you’ve ever made other than your education?
    • Learning about tax liens
  • Garrett’s worst investment
    • Investing in a publication called Sonoma monthly
  • What is the most important lesson you’ve learned in business and investing?
    • “You need to have the right partners on the team”

 

Connect with Garrett Sutton through corporatedirect.com/schedule. Grab your copy of Veil Not Fail.

 

Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

Join our Passive Investor Club for access to passive commercial real estate investment opportunities.

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes                  

Resources cited

Loopholes of real estate

Tweetable Quotes:

“You don’t want anyone to think they’re doing business with you personally.” – Garrett Sutton

“You can’t have a good business with a bad park, you know, you need to have the right partners on the team.” – Garrett Sutton

“You can’t run your LLC operations through your personal bank account, they’re going to pierce the veil in that situation. – Garrett Sutton

 

About our Guest

Garrett Sutton

Garrett Sutton is a rich dad advisor and an attorney at law is dedicated to helping business owners protect their corporate veils from being pierced by numerous liabilities and lawsuits. Sutton has been a business owner for over 35 years, and with a background in law, he is an expert on the various legal formalities and how to protect corporate companies from unwarranted liabilities. In his most recent book, “Veil Not Fail,” he discusses a wide range of difficulties and lessons learned as well as several methods and approaches for avoiding these mistakes. He shares his authenticity, honesty, and lessons learned from his experience in order to assist entrepreneurs in becoming familiar with and establishing themselves in the formalities of the law and effectively protecting their hard-earned businesses.

This episode is brought to you by Roofstock, the world’s largest residential real estate investing marketplace. Open an account for free and start browsing turnkey investment properties today.

We are also supported by You Need a Budget. YNAB is a different kind of personal financial tracking company. They’ll help you track and plan your money with your priorities in mind. Open your trial account today and give it a shot!

About the Host

Taylor on stage

Hi, I’m Taylor. I help busy professionals escape the Wall Street Casino and build wealth on Main Street by investing in real estate. I started the Passive Wealth Strategy Show because I realized that the typical “skip that $3 latte once a week” financial advice does not produce the life of abundance that so many Busy Professionals desire.

I help passive investors invest in multifamily and self storage real estate syndications through my company NT Capital.

Don’t forget to follow on Instagram @passive_wealth_strategies

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6 Ways To Passively Invest in Real Estate

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