Scott Smith, Esq. is an experienced podcast guest and owner of Royal Legal Solutions in Austin, Texas, one of the top asset protection companies for real estate investors in the country. In order to develop strategies to maximize tax savings and protect your assets from devastating lawsuits, Scott invested several years deconstructing real estate investing.
Scott graduated from Albany Law School in 2012 and kicked off his career by working in high stakes litigation. Scott has been investing in real estate for years and started developing strategies based on his own litigation experience.
Scott invested in all types of asset classes including SFR and multi-family residential, commercial, notes, and more. The first property he purchased was a commercial property while in Law School. Scott has personally invested in over 10 different states and has advised investors in almost every state in the United States.
Royal Legal Solutions, founded by Scott, provides business, tax, and legal solutions geared exclusively for real estate investors. Scott’s 8+ years of experience in deconstructing real estate investing has led him to develop strategies to protect assets from lawsuits, maximize tax savings, and more.
What you’ll learn about in this episode:
- How much equity you should have before investing in protecting your assets
- Why you are infinitely better working on asset protection proactively rather than reactively
- Why every business should separate all their assets from their operations
- The many disadvantages of a C-Corp
- Compartmentalization and anonymity: the roles they play in protecting and hiding your assets from people looking to take them from you
- Understanding what’s actually covered by your insurance and what you need to protect your assets
- Why it’s not worth it to become an insurance expert
- Why setting up an operating LLC is so important to asset protection
- The difference between an umbrella policy and a business liability policy
- The process of equity stripping and how it could prove advantageous for you in the event of a lawsuit
- Understanding exactly what suitors are looking for when they file suit against you
- How you can set up a meeting with Scott to discuss how best to structure your business to protect your assets