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Updated over 4 years ago on . Most recent reply
Looking for an Asset Protection Company
Hey everyone,
Short story version for anyone who doesn't want to read all this: Do you have a good asset protection company you recommend?
Detailed version:
My business partner and I have been real estate investors for 10+ years now and have acquired 79 doors and constantly growing. When we started, the plan was to buy 10-20 properties, manage them ourselves, and setup a passive income retirement for the future. Since then we have hired multiple property management companies and grown much larger than originally anticipated.
We currently have every one of our properties in 1 LLC (I know that's bad, it's why I'm here). We met with some local attorneys and other real estate investors years ago to discuss asset protection and got a lot of good advice. Ultimately we have the LLC, never hire uninsured contractors, don't own any equipment/tools, and have a big insurance policy. As we continue to grow, we get more concerned about a frivolous lawsuit of some sort causing us a big hit in the future.
I've done a decent amount of research on different asset protection strategies and see that there are a lot of different suggested options. At this point we just want to find a great asset protection attorney we can hire to restructure our company without it becoming so confusing we don't understand it going forward. My concern is making it so complicated through land trusts, LLC's, offshore holding companies, and C corps that our accountants can't follow it and our bankers won't loan to us because they don't understand our corporate structure.
I've looked into Platinum Trust Group, Bradley Legal Corp, Anderson Business Advisors, Royal Legal Solutions, and Asset Protection Planners.
Does anyone here have any experience with a company on this list or a different company you would recommend?
Thanks in advance!