As real estate investors acquire increasingly more properties, the concern for adequate and effective asset protection grows. In today’s podcast, real estate investor and lawyer Scott Smith try to bring clarity to the massive confusion among traders regarding the best ways to protect your real estate property from lawsuits. Exactly what is a Texas Series LLC?
Scott Royal Smith is a genuine estate trader and asset safety lawyer in Austin, TX. He graduated from Albany Law School and started his career in high-stakes corporate and business litigation. Through his protection work, Scott actually focuses on defeating lawsuits FIRST, before they are even submitted. Scott founded Royal Legal Answers to offer tax, business, and legal strategies to real estate investors. He has spent the past 8 many years of his profession diving through case regulation, reading the ever-changing tax code, and analyzing owning a home so that his clients don’t have to.
Scott isn’t just a lawyer, he could be also a genuine property trader. He uses a mixture of his legal expertise, experience as an investor, and love of helping others to grow and protect their businesses to construct ironclad asset protection plans for his clients. His main expertise is within stopping lawsuits before they start even.
Currently, Scott lives in East Austin and when he isn’t active in protecting his clients, he loves to practice jujitsu / buy Thai kickboxing in, explore the outside, and travel. This year was to climb Mt His personal goal. Kilimanjaro, and he already succeeded. With real property trading Especially. Regarding out-of-state investors, his firm are designed for all your legal needs (structural issues and defenses) but just can’t appear in court for you in every state.
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A Texas Series LLC (one company with one EIN number and one bank-account that are set up with one filing) works as being a Delaware LLC. It can work all over the nationwide country. The Series LLC can have as many “children” as it wants. Each “child” is its company, as an LLC would be just, except that it’s free, and there’s no special processing to make it. The house is under your personal name for the conforming loans. The Living Trust holds your LLC. He wants to keep to be clear and tell other attorneys what he could be doing.
Unfortunately, most lawyers don’t want to change the ways they have been doing things. What he will be not easy, and simple route to go but it works well always. Clients don’t have to comprehend everything in what he does and all the nuances. Favorite quotation: “You win some. 1,000, what can you do to release your real estate investing business? He would hunker down with a friend, read a great deal of books, and observe how they may help people. To many times people feel that money can be an obstacle to accomplishing great things. Finding ways to help people can also lead to helping yourself. 5,000 in legal services free of charge! IF YOU LIKED THIS PODCAST, we’d love if you would go to iTunes, Stitcher, or Subscribe and GooglePlay, Rate & Review our podcast. This will greatly assist in posting this podcast with others wanting to learn real estate investing as a way to achieve a successful retirement.
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I’m writing a series of blog posts to document some of the things I’ve learned in innovation on the way, over 15 years of leading corporate advancement work. So far I’ve written several blogs, the first about the need for determining a why and a how for advancement, the next about the need for a basic idea sponsor. Today I’m going to focus on the main element drivers for innovation and clarify what drives innovation in many organizations. And in doing so I’ll revert to a little of possibility and statistics, using a normal distribution curve.
Before we go deeply into the analysis, let me say that most firms innovate first, occasionally and sporadically, so to be fair, the invention is going on in many organizations. That’s important, but what’s more important is the type and type of innovation. For the vast majority of companies, the vast majority of innovation work is incremental at best, adding a fresh feature or capability to a preexisting product. Now, incremental innovation isn’t necessarily easy and it is important.