The world we live in is “sue-happy.” It seems you can get sued at any time for most anything. This is as true in the field of real estate investing as in any other. The potential legal pitfalls could be enough to scare away anyone who’s thinking about getting into investing — or it might even cause a newbie to stall out and quit.
That’s why I invited the Legal Wiz, Bill Bronchick, for this episode…
Alex and I have our questions ready, and Bill delivers the goods. How many people do you know who have a foot in both camps — serving as an attorney and as an active real estate investor?
Not many. Bill is in a class of his own. Because he’s been actively investing since 1990, that makes him a true veteran in the business.
Ever have someone tell you that wholesaling is illegal? Or that a certain investing strategy is practicing without a Realtor’s license? Ever have an attorney warn you to stay away from creative financing or subject-to’s?
Has it all been a little disconcerting and terribly confusing?
As Bill says, “There’s so much misinformation going around…” But you need answers, and the answers you’ve been looking for are in this episode.
Listen and enjoy:
- Ins and outs of self-directed IRAs and how to set them up
- How to set up insurance to protect you from possible lawsuits
- Understanding an umbrella insurance policy
- Importance of creating layers of entities
- The legal protection afforded by having a property manager
- How Bill expanded his Assignment Contract from a 1-page to a 3-page document to discourage lawsuits
- The best methods for creative financing
- Understanding how Dodd-Frank legislation affects investors
Mentioned in this episode:
- Joe’s podcast on iTunes: Real Estate Investing Mastery Podcast
- Joe’s Coaching Program: Joe McCall Coaching
- Podcast Hotline: 636.255.8815
- Bill Bronchick’s Website: LegalWiz
- Bill Bronchick’s Podcast: Legalwiz Podcast
- Available on Amazon: Bill Bronchick’s Books
What are you thinking?
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