course.

First, set up a company. Run it like a company. Get letterhead, file legal documents, keep minutes, keep books, etc. Sign all your documents as President, or Member, or CEO, etc. Not you, but your official title.

Seco

This is a subject that’s near and dear to me. I’ve seen too many investors do fabulously well, sign up deals left and right, make gobs and gobs of money only to lose it all when one tenant slips on the ice, or one ex-homeowner sues them.

Defending the average lawsuit costs upwards of $8,000 - $10,000. That statistic doesn’t come from the Internet, or a website, or a book. That’s straight from my attorney.

So how do you protect yourself. First, I need to say this (I’m protecting myself here). I’m not an attorney, so take anything I say with a grain of salt. I’m not giving legal advice but only relating what I’ve been told and have read myself. Contact a good attorney for more information. Bill Bronchick (see his link on my website) has some great articles on this – and he is an attorney.

So instead of telling you what others have said you should do, I’ll tell you what I’ve done. The real-world setup, not something out of someone’s course.

First, set up a company. Run it like a company. Get letterhead, file legal documents, keep minutes, keep books, etc. Sign all your documents as President, or Member, or CEO, etc. Not you, but your official title.

Secon

Defending the average lawsuit costs upwards of $8,000 - $10,000. That statistic doesn’t come from the Internet, or a website, or a book. That’s straight from my attorney.

So how do you protect yourself. First, I need to say this (I’m protecting myself here). I’m not an attorney, so take anything I say with a grain of salt. I’m not giving legal advice but only relating what I’ve been told and have read myself. Contact a good attorney for more information. Bill Bronchick (see his link on my website) has some great articles on this – and he is an attorney.

So instead of telling you what others have said you should do, I’ll tell you what I’ve done. The real-world setup, not something out of someone’s course.

First, set up a company. Run it like a company. Get letterhead, file legal documents, keep minutes, keep books, etc. Sign all your documents as President, or Member, or CEO, etc. Not you, but your official title.

Seco

’m protecting myself here). I’m not an attorney, so take anything I say with a grain of salt. I’m not giving legal advice but only relating what I’ve been told and have read myself. Contact a good attorney for more information. Bill Bronchick (see his link on my website) has some great articles on this – and he is an attorney.

So instead of telling you what others have said you should do, I’ll tell you what I’ve done. The real-world setup, not something out of someone’s course.

First, set up a company. Run it like a company. Get letterhead, file legal documents, keep minutes, keep books, etc. Sign all your documents as President, or Member, or CEO, etc. Not you, but your official title.

Seco

hick (see his link on my website) has some great articles on this – and he is an attorney.

So instead of telling you what others have said you should do, I’ll tell you what I’ve done. The real-world setup, not something out of someone’s course.

First, set up a company. Run it like a company. Get letterhead, file legal documents, keep minutes, keep books, etc. Sign all your documents as President, or Member, or CEO, etc. Not you, but your official title.

Seco

course.

First, set up a company. Run it like a company. Get letterhead, file legal documents, keep minutes, keep books, etc. Sign all your documents as President, or Member, or CEO, etc. Not you, but your official title.

Second, make sure that all the paperwork you use with your homeowners and tenants has been looked at by a competent attorney. You will want to use one that understands real estate and especially creative real estate. Please don’t do any deals until you’ve done this – don’t trust someone else’s paperwork, even mine.

Third, be above board, honest and ethical. The quickest way to get sued is to do something that you deserve to get sued over. Plus that, Karma will smile down on you.

Fourth, set up another company that can hold mortgages. I have all my properties in one company’s name. I lease to my tenant / buyers with that name. So anything that faces the outside world is in that company. However, I have another company that holds mortgages on those properties. That company does nothing other than loan money to the first company. It doesn’t deal with tenants or sign contracts with homeowners. If someone tries to sue the first company, the mo