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.
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Resources cited
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.
