All Forum Posts by: Vic Hartounian

Everyone Really appreciate your input. Seems to me there are multiple ways to address asset protection.
Found out trust are very costly and not flexible.

Im going to go with Corporate Directs' advise, go with the single member LLC's with an Wyoming parent LLC. So I take advantage of taxes and supposedly IRS treats LLC more professionally than being under my personal name.

However, I will up the insurance coverages per Aaron Smith advise.

Hope for the best!

Thank you everyone!

He said in CA court cases SMLLC, Have not held well. Judges see it the owner is using the LLC to avoid  creditors. Only in Multi member LLC is when the judges see it as protection if the partners have nothing to do with the case.
You may be right, it may be isolated situation, where the owner did not do a good job keeping documents in place. 

I see you are an attorney, have you seen this type of court situations?

Need advise on how to set up best and practical asset protection.

I Live in CA. Have multiple single family Properties in various states.

Ca lawyer says single member LLC are not really a protection in CA.

Need to form multi member LLC.

Which means separate tax return for each LLC.

Obviously that’s too expensive when I have 7 llc’s.

Corporate direct says that nonsense. multiple single member LLC with a parent LLC in Wyoming is the way to go.

The ca attorney says irrevocable trust is the way to go.

But it’s expensive, attaining loans will be difficult and tax returns will be complex.

Anyone else in the same situation? How did you mitigate around ?

Thanks

Anyone worked with platinum trust group Bruce Mack.

Claims best asset protection and deferred income and cap gain tax, with his titanium irrevocable trust.

Like to hear any feedback on the concept.

@Sai Krishna Byra

Following I like to know as well. Thanks

Thank you everyone for the sound advise!

@Andre Debs what's a good LTV for you ?

I’ve done one 65%. So far it’s been good. However it’s only been 6 months.

@Clayton Mobley I agree with the comments of doing both. However I believe having more equity on each investment. True I’ll miss on some gains, But I can sleep at nights.

That is most important.

another key point to investing out of state with turn key operators. They can make the investment or break it. The key point is picking the right Pm, market snd the right property. In that specific order.

I’ve heard good things about your company from Get rich education podcast!

Obviously you recommend Burm. AL.

Any other market do you recommend? Duplex , quads ?

Thanks

@Marc Winter I like your idea of 65% LTV. I've actually done that with one of the properties. Recently it went vacant I didn't panic since it leaves some meat on the bone. I tapped in on reserves from previous rental surplus.

Thanks

I invest for cash flow...

Every pro advises to leverage...

I get it when the market is going up. How about when market is at the top or almost there.

Isn’t dangerous to invest with leverage ? Just like the gains are multiplied the losses could be multiplied!

Any thoughts?