Account Closed,Actually, no - I'm NOT against what you do ...... well, except maybe for the generalizations.Yes - there will always be shysters looking for easy money, and "professional litigants" who think its an honorable way to make a living instead of earning an honest dollar.I don't see that as a justification for not doing what the law allows in terms of guarding your assets.Not everyone who implements asset protection is thief, a cheat or a liar.As I've said numerous times and will always say: nothing is 100%.

The longer we wait to implement CodeNEXT, the more of a foothold housing affordability has on our region’s ability to grow in a sustainable way.”PM me if you would like more info or the entire 83 page report.   

When I started in the business 30 years ago, I read some books, bought some online courses (Carlton Sheets, Dave Del Dotto,) but most importantly I implemented the information.Real estate is an ever changing business.

It’s one thing to buy right, but it’s a completely different ball game when it comes to implementing the business plan.Most gurus portray property management as the easiest part of the equation (just hand it to a 3rd party and relax) but that is not the case.

Mainly, the systems implemented are fascinating (VA, automated offers, etc.)

Mainly, the systems implemented are fascinating (VA, automated offers, etc.)

I'm trying to implement the percent rules (2%, 70%, and 50%) but not even coming close with the property values.

If his income fluctuates (which is pretty common for most of the self employed folks I know) or the building implements special assessments (most do at some point), your friend could really find himself in an even tougher spot.I'm sure his 3mm apartment is pretty nice, but it's really costing him too much based on his current income.

So, learn about that first - and a good point to start is a Nolo Every-Landlords-Property-Protection-Guide book (https://www.amazon.com/Every-Landlords-Property-Protection-Guide/dp/1413307000/)  it will explain about insurance, how to evaluate insurance, and then about property management, property code, proper leasing and all the way to LLC and hiring.But sooner or later, once the equity in the properties passes your risk threshold, you'll have to implement additional asset protection (LLC).

BTW, I don't advocate actually implementing the above paragraph.