All Forum Posts by: Seth Mosley

Anyone have any good experience with a good Asset Protection Attorney in Nashville, TN ?

Looking to connect and talk with someone about protecting our property investments.

Thanks

+Seth Mosley

Mosley Properties

Hey all..

interested to hear some discussion surrounding the recent BP Podcast on Asset Protection (the "YOU WILL GET SUED" issue)

So far I have 7 rental properties all multi unit having several units each, and they are just all under my name, which according to the attorney in the podcast, should NEVER be done for exposure reasons.

I feel like I've gotten a lot of mixed advice. Insurance Agents tell you insurance is the solution. Attorneys tell you LLC is the solution. My CPA tells me the LLC's are too expensive to operate and set up and that he's never dealt with people having issues not having properties under LLCs.

Wondering what all of you EXPERIENCED investors out there have done for your personal strategies, and do you find the statement true that, "it's not IF, but WHEN you'll be sued"?

My problems are at this point, the due-on-sale clause being possible if I transfer my properties to an LLC, and also, applying for financing. Do you all find issues with applying for financing under Trusts or LLCs?

Thanks

+Seth Mosley

Mosley Properties

@Josh Eitingon how do you figure IRR?

(with the exception of headache properties - of those, there are plenty  of 2% out there)

Highest I've ever found is 1.62% and that to me was a steal.

No clue where any of you are finding 2% out there, but feel free to share! :) :) :)

I'm selling a great single family at 2003 Cahal ave Nashville tn- hottest up and coming area - great appreciation - find renters in 1 second.

 Ok I answered my own question I think. 250 basis points equals a 2.5% interest rate increase correct? So is that what most investors use as a "safe" figure estimate these days?

 Sorry for the ignorance but please explain 250 bps - what is this metric and how is it figured in a real world situation?

Thanks

 Seems like you're doing the right things on the front end. I do hear you on the 1031 deadline though...that makes it a little more difficult.

How are you doing due diligence? I'm guessing you do some kind of home inspection prior to purchasing?

Sorry to ask, just making sure. That is a pretty obvious way to find deferred maintenance.