In a Down Market Real Estate Investors Often Look to Cut Costs. Not Investing in Proper Asset Protection Could Cost Much More.
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Get Real, The Real Estate Investing Show for the Rest of Us spoke with Garrett Sutton, Esq. attorney and asset protection expert. Mr. Sutton has spent many years helping real estate investors and small business owners choose the right type of business entity.
Garrett explained choosing the right entity was more important than just getting the best tax benefits. While this is an important consideration real estate investors need to consider the right entity structure to protect their assets. Mr. Sutton suggests working with a qualified attorney and accountant so they can understand their personal situation and customize a plan of attack that is best for them.
Every year many landlords around the United States are targets of liability law suits. Insurance may cover many of the expenses if the investor is protected correctly. There may still be additional liabilities. A poorly created and maintained entity may mean landlords taking on personal liability for their business activities.
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