All Forum Posts by: Seth Mosley

 Bill, thanks for taking the time to write. These are the kind of responses that are helpful, from someone who's been active in the biz for a while now.

It is always interesting when someone has a service to sell, how the story can become skewed.

Not saying this is the case with  Scott, but I've just been very skeptical on the whole schpiel attorneys give on LLCs, contrasted with a lot of what I've heard from real world Pros....

 Would love it if Scott would chime in! :)

However, a good plaintiff's attorney will not plead intentional acts in his/her civil case against you because he/she wants the insurance coverage. (Ancient lawyer secret)

interesting point, Tim!

I was just referring to what he said in the podcast about insurance companies declining to cover you in the event of a lawsuit.

One other note to throw out for question - according to Scott's podcast with BP, he was arguing that insurance companies won't pay it half the time if the judge deems the suit outcome is intentional on the owner's end. Is this the case in the REAL WORLD?

Great response!

Was actually hoping to see this kind of response. James are you speaking from experience as a buy and hold investor yourself? Not meaning to insult, just asking!

This has been my suspicion the whole time that it is an easy $ job for attorneys, when in reality the LLC doesn't actually hold up in court as a protection entity.

Love to hear from anyone else on this issue who is speaking from experience?

Thanks!

 James, what do you mean by this?

This a bit vague.

I emailed Scott as well with no response - not a good first impression.  If you're going to offer your time and availability, best be prepared to deliver on your offer.

But yes it sounded like he had a lot of good things to say. I just want to know in reality how It can apply to me.

My lender said they will not loan to a trust or LLC, but there is a way to quick capture the property at closing so that you can still place the property under an LLC. Going to try that this next time around.

Thanks and would still like to hear some more responses!

Bigger  question: how many of you have actually been sued ? I wonder how accurate his assumption is...

Ok, I guess I should probably talk more in depth about it with my lender.

Thanks

Tim thanks for the reply, 

do you have anything to add to the element of getting loans through an LLC and the difficulty that goes along with that territory aside from commercial loans that don't have nearly as good of terms?

Thanks

+Seth