Podcast appearances and mentions of garrett sutton

Founder of the Raising Capitalists Foundation and previous co-host of The Real Estate Guys Radio show, Russell Gray, joins Keith to discuss the historical and current devaluation of the U.S. dollar, its impact on investors, and the broader economic implications. Gray highlights how the significant increase in interest rates has trapped equity in properties and affected development. He explains the shift from gold-backed currency to paper money, the role of the Federal Reserve, and the impact of the Bretton Woods Agreement.  Gray emphasizes the importance of understanding macroeconomic trends and advocates for Main Street capitalism to decentralize power and promote productivity. He also criticizes the idea of housing as a human right, arguing it leads to inflation and shortages. Resources: Connect with Russell Gray to learn more about his "Raising Capitalists" project and his plans for a new show. Follow up with Russell Gray to get a copy of the Beardsley Rummel speech transcript from 1946. follow@russellgray.com Show Notes: GetRichEducation.com/558 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”.  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai  Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, what's the real backstory on why we have this thing called the dollar? Why it keeps getting debased? What you can do about it and when the dollar will die? It's a lesson in monetary history. And our distinguished guest is a familiar voice that you haven't heard in a while. Today on get rich education.   Mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider, their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with a better business bureau and now over 5000 houses renovated. There's zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter. Remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis, get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com   Russell Gray  1:54   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:10   Welcome to GRE from St John's Newfoundland to St Augustine, Florida and across 188 nations worldwide. I'm Keith weinholden. You are inside get rich education. It's 2025. The real estate market is changing. We'll get into that in future. Weeks today. Over the past 100 years plus, we've gone from sound money to Monopoly money, and we're talking about America's currency collapse. What comes next and how it affects you as both an investor and a citizen.   I'd like to welcome in longtime friend of the show and someone that I've personally learned from over the years, because he's a brilliant teacher, real estate investors probably haven't heard his voice as much lately, because until last year, he had been the co host of the terrific real estate guys radio show for nearly 20 years. Before we're done today, you'll learn more about what he's doing now, as he runs the Main Street capitalist platform and is also founder of the raising capitalists foundation. Hey, it's been a few years. Welcome back to GRE Russell Gray.   Russell Gray  3:19   yeah, it's fun. I actually think it's been maybe 10 years when I think about it, I remember I was at a little resort in Mexico recording with you, I think in the gym. It was just audio back then, no video.    Keith Weinhold  3:24   Yeah, I remember we're trying to get the audio right. Then I think you've been here more recently than 10 years ago. But yeah, now there's this video component. I actually have to sit up straight and comb my hair. It's ridiculous. Well, Russ, you're also a buff of monetary history. And before we discuss that, talk about the state of the real estate market today, just briefly, from your vantage point.   Russell Gray 1  3:55    I think the big story, and I'm probably not telling anybody anything they don't know, but the interest rate hike cycle that we went through this last round was quite a bit more substantial, I think, than a lot of people really appreciated, you know. And I started talking about that many years ago, because when you hit the zero bound and you have 6,7,8, years of interest rates below half a point, the change when they started that interest rate cycle from point two, 525 basis points all the way up to five and a quarter? That's a 20x move. And people might say, well, oh, you know, I go back to what Paul Volcker did way back in the day, when he took interest rates from eight or nine to 18. That was only a little bit more than double. Double is a far cry from 20x so we've never seen anything like that. Part of the fallout of that, as you know, is a lot of people wisely, and I was on the front end of cheerleading This is go get those loans refinanced and lock in that cheap money for as long as possible, because a loan will actually become an asset. The problem is, when you do that, you're kind of married to that property. Now it's not quite as bad. As being upside down in a property and you can't get out of it, but it's really hard to walk away from a two or 3% loan in a Six 7% market, because you really can't take your same payment and end up getting more house. And so that equity is kind of a little bit trapped, and that creates some opportunities, but I think that's been the big story, and then kind of the byproduct of the story. Second tier of the story was the impact it had on development, because it made it a lot harder for developers to develop, because their cost of funds and everything in that supply chain, food chain, you marry that to the 2020, COVID Supply Chain lockdown and that disruption, which, you know, you don't shut an economy down and just flick a switch and have it come back on. And so there's all of that. And then the third thing is just this tremendous uncertainty everybody has, because we just went from one extreme to another. And I think people, you know, they don't want to, like, rock the boat, they're going to kind of stay status quo for a little bit, whether they're businesses, whether they're homeowners, whether they're anybody out there that's thinking about moving them, unless life forces you to do it, you're going to try to stay status quo until things calm down. And I don't know how close we are to things calming down.   Keith Weinhold  6:13   One word I use is normalized. Both the 30 year fixed rate mortgage and the Fed funds rate are pretty close to their long term historic average. It just doesn't feel that way, because it was that rate of increase in 2022 that caught a lot of people off guard, like you touched on Well, Russ, now that we've talked about the present day, let's go back in time, and then we'll slowly bring things up to the present day. The dollar is troubled. It's worth perhaps 3% of what it was 100 years ago, but it's still around since it was established in the Coinage Act of 1792 and it's still the world reserve currency. In fact, only three currencies have survived longer than the dollar, the British pound, the Japanese yen and the Swiss franc. So talk to us about this really relentless debasement of the dollar over time, including the creation of the Fed and the Bretton Woods Agreement and all that.   Russell Gray 7:09   That's a big story, as you know, and I always like to try to break it down a little bit. One of my specialties I'd like to believe, is I speak macro and I speak Main Street. And so when I try to break macroeconomics down, I start out with, why do I even care? I mean, if I'm a main street investor, why do I even care? In 2008 as you know, is a wipeout for me. Why? Because I didn't think anything had happened in the macro I didn't think Wall Street bond market. I didn't think that affected me. One thing I really cared about was interest rates. And I had a cursory interest in the bond market. We just try to figure out where interest rates were going. But for the most part, I thought, as a main street real estate investor, I was 100% insulated. I couldn't have been more wrong, because it really does matter, because the value of the dollar, in other words, the purchasing power of the dollar, and usually you refer to that as inflation, right? If inflation is there, the dollar is losing its purchasing power, and so the higher the inflation rate, the faster you're losing that purchasing power. And you might say, well, maybe that matters to me. Maybe it does. But the people who make the money available to the mortgage community, right to the real estate community to borrow that comes out of the bond market. And so when people go to buy a bond, which is an IOU, they're going to get paid back in the currency that they lent in, in this case, dollars. And if they know, if they're making a long term investment in a long term bond, and they're going to get paid back in dollars, they're going to be worth a whole lot less when they get them back. One of the things they're going to want is compensation for that time risk, and that's called higher interest rates. Okay, so now, if you're a main street investor, and higher interest rates impact you, now you understand why you want to pay attention. Okay, so let's just start with that. And so once you understand that the currency is a derivative of money, and money used to be you mentioned the Coinage Act Keith money, which is gold, used to be synonymous with the dollar. The dollar was only a unit of measure of gold, 1/20 of an ounce. It was a unit of measure. So it's like, the way I teach people is, like, if you had a gallon of milk and you traded, I'm a farmer, and I had a lot of milk, and so everybody decided they were going to use gallons of milk as their currency. Hey, where there's a lot of gallons of milk. He's got a big refrigerator. We'll just trade gallons of milk. Hey, Keith, I really like your beef. I you know, will you sell me some, a side of beef, and I'll give you, you know, 100 gallons of milk, you know, like, Oh, that's great. Well, I can't drink all this milk, so I'm going to leave the milk on deposit at the dairy, and then later on, when I decide I want a suit of clothes, I'll say, well, that's 10 gallons of milk. So I'll give the guy 10 gallons of milk. So I just give him a coupon, a claim, a piece of paper for that gallon of milk, or 20 gallons of milk, and he can go to the dairy and pick it up, right? And so that's kind of the way the monetary system evolved, except it wasn't milk, it was gold. So now you got the dollar. Well, after a while, nobody's going to get the milk. They don't care about the milk. And so now. Now, instead of just saying, I'll give you a gallon of milk, you just say, well, I'll give you a gallon. And somebody says, Okay, that's great. I'll take a gallon. They never opened the jug up. They never realized the jug is empty. They're just trading these empty jugs that used to have milk in them. Well, that's what the paper dollar is today. It went from being a gold certificate payable to bearer on demand, a certain amount of gold, a $20 gold certificate, what looks exactly like a $20 FEDERAL RESERVE NOTE. Today they look exactly the same, except one says FEDERAL RESERVE NOTE, which is an IOU backed by nothing, and the other one said gold certificate, which was payable to bearer on demand, real money. So my point is, is he got money which is a derivative of the productivity, the beef, the soot, the milk, whatever, right? That's the real capital. The real capital is the goods and services we all want. Money is where we store the value of whatever it is we created until we want to trade it for something somebody else created later. And it used to be money and currency were one in the same, but now we've separated that. So now all we do is trade empty gallons, which are empty pieces of paper, and that's currency. So those are derivatives, and the last derivative of that chain is credit. And you had Richard Duncan on your show more than once, and he is famous for kind of having this term. We don't normally have capitalism. We have creditism, right? Everything is credit. Everything is claims on wealth, but it's not real wealth, and it's just when we look at what's going on with our current administration and the drive to become a productive rather than a financialized society, again, as part of this uncertainty that everybody has. Because this is not just a subtle little adjustment on the same course. This is like, No, we're we're going down a completely different path. But fundamentally, your system operates on this currency that is flowing through it, like the blood flowing through your body. And if the blood is bad, your body's sick. And right now, our currency is bad, and so it creates problems, not just for us, but all around the world. And now we're exacerbating that. And I'm not saying it's bad. In fact, I think it's actually it's actually good, but change is what it is, right? I mean, it can be really good to go to the gym and work out before we started recording, you talked about your commitment to fitness, and that if you stop working out, you get unfit, and it's hard to start up again. Well, we've allowed our economy to get very unfit. Now we're trying to get fit again, and it's going to be painful. We're going to be sore, but if we stick with it, I think we can actually kind of save this thing. So I don't know what that's going to mean for the dollar ultimately, or if we end up going to something else, but right now, to your point, the dollar is definitely the big dog still, but I think it's probably even more under attack today than it's ever been, and so it's just something I think every Main Street investor needs to pay attention to.    Keith Weinhold  12:46   And it was really that 1913 creation of the Fed, where the Fed's mandates really didn't begin to take effect until 1914 that accelerated this slide in the dollar. Prior to that, it was really just periods of war, like, for example, the Civil War, where we had inflation rise, but then after wars abated, the dollar's strength returned, but that ceased to happen last century.   Russell Gray  13:11   I think there's a much bigger story there. So when we founded the country, we established legal money in the Coinage Act of 1792 we got gold and silver and a specific unit of measure of gold, a specific unit, measure of silver was $1 and that's what money was constitutionally. Alexander Hamilton advocated for the first central bank and got it, but it was issued by Charter, which meant that it was operated by the permission of the Congress. It wasn't institutionalized. It wasn't embedded in the Constitution. It was just something that was granted, like a license. You have a charter to be able to run a bank. When that initial charter came up for renewal, Congress goes, now we're not going to renew it. Well, of course, that made the bankers really upset, because bankers have a pretty good gig, right? They get to just loan people money. They don't have to do any real work, and then they make money on just kind of arbitraging, you know, other people's money. Savers put their money in, and they borrowed the money out, and then they with fractional reserve, they're able to magnify that. So it's, it's kind of a cool gig. And so what happened? Then he had the first central bank, so then they got the second central bank, and the second central bank was also issued by charter this time when it came up for renewal, Congress goes, Yeah, let's renew it, right? Because the bankers knew we got to go buy a few congressmen if we want to keep this thing going. But President Andrew Jackson said, No, not going to happen. And it was a big battle. Is a famous quote of him just calling these bankers a brood of vipers. And I'm going to put you down. And God help me, I will, right? I mean, it was like intense fact, I do believe he got shot at one point. I think he died from lead poisoning, because he never got the bullet out. So, you know, when you go to up against the bankers, it's not pretty, but he succeeded. He was the last president that paid off all the debt, balanced budget, paid off all the debt, and we got kind of back on sound money. Well, then a little while later, said, Okay, we're going to need, like, something major, and this would. I should put on. I got my, this is my hat, right now, I'll kind of put it on. This is my, my tin foil hat. Okay? And so I put this on when I kind of go down the rabbit trail a little bit. No, I'm not saying this is what happened, but it wouldn't surprise me, right? Because I know that war is profitable, and so sometimes, you know, your comment was, hey, there's the bank, and then there was, you know, the war, or there's the war, then there's a bank, which comes first the chicken or the egg. I think there's an article where Henry Ford and Thomas Edison went to Congress. I think it was December. The article was published New York Tribune, December 4. I think 1921 you can look it up, New York Tribune, front page article   Keith Weinhold  15:38   fo those of you in the audio only. Russ started donning a tin foil looking hat here about one minute ago.    Russell Gray  15:45   I did, yeah, so I put it on. Just so fair warning. You know, I may go a little conspiratorial, but the reason I do that is I just, I think we've seen enough, just in current, modern history and politics, in the age of AI and software and freedom of speech and new media, there's a lot of weird stuff going on out there, but a lot of stuff that we thought was really weird a little while ago has turned out to be more true than we thought. When you look back in history, and you kind of read the official narrative and you wonder, you kind of read between the lines. You go, oh, maybe some stuff went on here. So anyway, the allegation that Ford made, smart guy, Thomas Edison, smart guy. And they go to Congress, and they go, Hey, we need to get the gold out of the banker's hands, because gold is money, and we need money not to revolve around gold, because the bankers control gold. They control the money, and they make profits, his words, not mine, by starting wars, because he was very upset about World War One, which happened. We got involved right after Fed gets formed in 1913 World War One starts in 1914 the United States sits off in the background and sells everybody, everything. It collects a bunch of gold, and then enters at the end and ends it all. And that big influx created the roaring 20s, as we all know, which ended big boom to big bust. And that cycle, which then a crisis that created, potentially a argument for why the government should have more control, right? So you kind of go down this path. So we ended up in 1865 with President Lincoln suppressing states rights and eventually creating an unconstitutional income tax and then creating an unconstitutional currency. That's what Abraham Lincoln did. And then on the back end of that, you know, it didn't end well for him, and I don't know why, but all I know is that we had a financial crisis in 1907 and the solution to that was the Aldrich plan, which was basically a monopoly on money. It's called a money trust. And Charles Lindbergh, SR was railing against it, as were many people at the time, going, No, this is terrible. So they renamed the Aldrich plan the Federal Reserve Act. And instead of going for a bank charter, they went for a constitutional amendment, and they got it in the 16th Amendment, and that's where we got the IRS. That's where we got the income tax, which was only supposed to be 7% only affect like the top one or 2% of earners, right? And that's where we got, you know, the Federal Reserve. That's where all that was born. Since that happened, to your point, the dollar has been on with a slight little rise up in the 20s, which, you know, there's a whole thing about whether that caused the crash or not. But at the end of the day, if you go look at St Louis Fed, which you go look at all the time, and you just look at the long term trend of the dollar, it's terrible. And the barometer, that's gold, right? $20 of gold in 1913 and 1933 and then 42 in 1971 or two, whatever it was, three, and then eventually as high as 850 but at the turn of the century, this century, it was $250 so at $2,500 it would have lost 90% in the 21st Century. The dollars lost 90% in the 21st Century, just to 2500 that's profound to go. That's right, it already lost more than 90% from $20 to 250 so it lost 90% and then 90% of the 10% that was left. And that's where we're at. We're worse than that. Today, no currency, as far as I understand, I've been told this. Haven't done the homework, but it's my understanding, no currency in the history of the world has ever survived that kind of debasement. So I think a lot of people who are watching are like, okay, it's not a matter of if, it's a matter of when. And then the big question is, is when that when comes? What does the transition look like? What rises in its place? And then you look at things like a central bank digital currency, which is not like Bitcoin, it's not a crypto, it's a centrally controlled currency run by the central bank. If we get that, I would argue that's not good for privacy and security. Could be Bitcoin would be better. I would argue, could go back to gold backing, which I would say is better than what we have, or we could get something nobody's even thought of. I don't know. We don't know, but I do think we're at the end of the life cycle. Historically, all things being equal. And I think all the indication with a big run up of gold, gold is screaming something's broken. It's just screaming it right now, not just because the price is up, but who's buying it. It's just central banks.   Keith Weinhold  20:12   Central banks are doing most of the buying, right? It's not individual investors going to a coin shop. So that's really screaming, telling you that people are concerned. People are losing their faith in giving loans to the United States for sure. And Russ, as we talk about gold, and it's important link to the dollar over time, you mentioned how they wanted it, to get it out of the bank's hands for a while. Of course, there was also a period of time where it was illegal for Americans to own gold. And then we had this Bretton Woods Agreement, which was really important as well, where we ended up violating promises that had to do with gold again. So can you speak to us some more about that? Because a lot of people just don't understand what happened at Bretton Woods.   Russell Gray  20:56   What happened is we had the big crash in 1929 and the net result of that was, in 1933 we got executive order 6102 In fact, I have a picture of it framed, and that was in the wake of that in 1933 and so what Franklin Delano Roosevelt did in signing that document, which was empowered by a previous act of Congress, basically let him confiscate all The money. It'd be like right now if, right now, you know, President Trump signed an executive order and said, You have to take all your cash, every all the cash that you have out of your wallet. You have to send it all, take it into the bank, and they're going to give you a Chuck E Cheese token, right? And if you don't do it, if you do it, it's a $500,000 fine in 10 years in prison. Right? Back then it was a $10,000 fine, which was twice the price of the average Home huge fine, plus jail time. That's how severe it was, okay? So they confiscated all the money. That happened in 33 okay? Now we go off to war, and we enter the war late again. And so we have the big manufacturing operation. We're selling munitions and all kinds of supplies to everybody, all over the world, right? And we're just raking the gold and 20,000 tons of gold. We got all the gold. We got the biggest army now, we got the biggest bomb, we got the biggest economy. We got the strongest balance sheet. Well, I mean, you know, we went into debt for the war, but, I mean, we had a lot of gold. So now everybody else is decimated. We're the big dog. Everybody knows we're the big dog. Nine states shows up in New Hampshire Bretton Woods, and they have this big meeting with the world, and they say, Hey guys, new sheriff in town. Britain used to be the world's reserve currency, but today we're going to be the world's reserve currency. And so this was the new setup. But it's okay. It's okay because our dollar is as good as gold. It's backed by gold, and so anytime you want foreign nations, you can just bring your dollars to us and we'll give you the gold, no problem. And everyone's like, okay, great. What are you going to say? Right? You got the big bomb, you got the big army. Everybody needs you for everything to live like you're not going to say no. So they said, Yes, of course, the United States immediately. I've got a speech that a guy named Beardsley Rummel did. Have you ever heard me talk about this before? Keith, No, I've never heard about this. So Beardsley Rummel was the New York Fed chair when all this was happening. And so he gave a speech to the American Bar Association in 1945 and I got a transcript of it, a PDF transcript of it from 1946 and basically he goes, Look, income taxes are obsolete. We don't need income tax anymore because we can print money, because we're off the gold standard and we have no accountability. We just admitted it, just totally admitted it, and said the only reason we have income tax is to manipulate behavior, is to redistribute wealth, is to force people to do what we want them to do, punish things and reward others, right? Just set it plain language. I have a transcript of the speech. You can get a copy of you send an email to Rummel R U, M, L@mainstreetcapitalist.com I'll get it to you. So it's really, really interesting. So he admitted it. So we went along in the 40s and the 50s, and, you know, we had the only big manufacturing you know, because everybody else is still recovering from the war. Everything been bombed to smithereens, and we're spending money and doing all kinds of stuff. And having the 50s, it was great, right, right up until the mid 60s. So the mid 60s, it's like, Okay, we got a problem. And Charles de Gaulle, who was the president of France at the time, went to a meeting. And there's a YouTube video, but you can see it, he basically told the world, hey, I don't think the United States is doing a good job managing this world's reserve currency. I don't think they've got the gold. I think they printed too much money. I think that we should start to go redeem our dollars and get the gold. That was pretty forward thinking. And he created a run on the bank. And at the same time, we passed the Coinage Act in 1965 and took all the silver out of the people's money. So we took the gold in 33 and then we took the silver in 65 right? Because we got Vietnam and the Great Society, welfare, all these things were going on in the 60s. We're just going broke. Meanwhile, our gold supply went from 20,000 tons down to eight and Richard. Nixon is like, whoa, time out. Like, this is bad. And so we had inflation in 1970 August 15, 1971 year before August 15, 1971 1970 Nixon writes an executive order and freezes all prices and all wages. It became illegal by presidential edict for a private business to give their employee a raise or to raise their prices to the customers.    Keith Weinhold  25:30   It's almost if that could happen price in theUnited States of America, right?    Russell Gray  25:36   And inflation was 4.4% and it was a national emergency like today. I mean, you know, a few years ago, like three or four years ago, we if we could get it down 4.4% it'd be Holly. I'd be like a celebration. That was bad. And so that's what happened. So a year later, that didn't work. It was a 90 day thing. It was a disaster. And so in a year later, August 15, 1971 Nixon came on live TV after Gunsmoke. I think it was, and I was old enough I'm watching TV on a Sunday night I watched it. Wow. So I live, that's how old I am. So it's a lot of this history, not the Bretton Woods stuff, but from like 1960 2,3,4, forward. I remember I was there.    Keith Weinhold  26:13   Yeah, that you remember the whole Nixon address on television. We should say it for the listener that doesn't know. Basically the announcement Nixon made, he said, was a temporary measure, is that foreign nations can no longer redeem their dollars for gold. He broke the promise that was made at Bretton Woods in about 1945   Russell Gray  26:32   Yeah. And then gold went from $42 up to 850 and a whole series of events that have led to where we're at today were put in place to cover up the fact that the dollar was failing. We had climate emergency. We were headed towards the next global Ice Age. We had an existential threat in two different diseases that hit one right after the other. First one was the h1 n1 flu, swine flu, and then the next thing was AIDS. And so we had existential pandemic, two of them. We also had a oil shortage crisis. We were going to run out of fossil fuel by the year 2000 we had to do all kinds of very public, visible, visceral things that we would all see. You could only buy gas odd even days, like, if your license plate ended in an odd number, you could go on these days, and if it ended on an even number, you could go on the other days. And so we had that. We lowered our national speed limit down to 55 miles an hour. We created the EPA and all these different agencies under Jimmy Carter to try to regulate and manage all of this crisis. Prior to that, Nixon sent Kissinger over to China, and we opened up trade relations. And we'd been in Vietnam to protect the world from communism because it was so horrible. And then in the wake of that, we go over to Communist China, Chairman Mao and open up trade relations. Why we needed access to their cheap labor to suck up all the inflation. And we went over to the Saudis, and we cut the petro dollar deal. Why? Because we needed the float. We needed some place for all these excess dollars that we had created to get sucked up. And so they got sucked up in trading the largest commodity in the world, energy. And the deal was, hey, Saudis, here's the deal. You like your kingdom? Well, we got the big bomb. We got the big army. You're going to rule the roost in the in the Middle East, and we'll protect you. All you got to do is make sure you sell all your oil in dollars and dollars only. And they're like, Well, what if we're selling oil to China, or what if we're selling oil to Japan? Can they pay in yen? Nope, they got to sell yen. Buy dollars. Well, what do we do with all these dollars? Buy our treasuries. Okay, so what if I got this? Yeah, and so that was the petrodollar system. And the world looked at everything went on, and the world is like, Hmm, the United States coming back to Europe, and Charles de Gaulle, they're like, the United States is not handling this whole dollar thing real well. We need an alternative. What if all of us independent nations in Europe got together and created a common currency? We don't want to be like one country, like the United States, but we want to be like an economic union. So let's create a current let's call it the euro. And they started that process in the 70s, but they didn't get it done till 99 and so they get it done in 99 as soon as they get it done, this guy named Saddam Hussein goes, Hey, I'm now the big dog here. I got the fourth largest army in the world. I'm here in, you know, big oil producing nation. Let's trade in the euro. Let's get off the dollar. Let's do oil in the euro. And he's gone. I'm not sure I should put my hat back on. I'm not sure, but somehow we went into Afghanistan and took a hard left and took this guy out.   Keith Weinhold  29:44   Some credence to this. Yes, yeah, so. But with that said,   Russell Gray  29:47   you know, we ended up with the Euro taking about 20% of the global trade market from the United States, which is about where it sits today. And the United States used to be up over 80% and now we're down below 60% still. The Big Dog by triple and the euro is not in a position to supplant the US, but I think China, whose claim to fame is looking at other people's technology and models and copying it, looked at what the United States did to become the dominant economic force, and I think they've systematically been copying it. I wrote a report on this way back in 2013 when I started really paying attention to it and began to chronicle all the things that they were doing, this big D dollarization movement that I think still has legs. It's the BRICS movement. It's all the central banks buying gold. It's the bilateral trade agreements where people are doing business outside the dollar. There's been not just that, but also putting together the infrastructure, right? The Asian Infrastructure Bank is an alternative to the IMF looking, if you have you read Confessions of an economic hitman. No. Okay, so this is a guy that used to work in the government, I think, CIA or something, and he would go down and he'd cut deals with leaders of countries to get them to borrow from the United States to put in key infrastructure so they could trade with the US. And then, of course, if they defaulted, then the US owned that in the infrastructure. You can look it up. His name is Perkins, right. Look it up confessions of economic hit now, but you see China doing the same thing. China's got their Belt and Road Initiative. And you go through, and if you want to trade with China on that route, you have traded, you're gonna have to have infrastructure. You can eat ports. You're gonna need terminals for distribution. But you, Oh, you don't have the money. We'll loan it to you, and we'll loan it to you and you want. Now we're creating demand for you want, and we also are enslaving borrower servant to the lender. We're beginning to enslave these other nations under the guise of helping them by financing their growth so they can do business with us. It's the same thing the United States did and Shanghai Gold Exchange, as opposed to the London Bullion exchange. So all of the key pieces of infrastructure that were put in place to facilitate Western hegemony in the financial markets the Chinese have been systematically putting in place with bricks, and so there's a reason we're in this big trade war right now. We recognize that they had started to get in a position where they were actually a real threat, and we got to cut their legs out from underneath them before they get any stronger. Again, I should put my hat back on. Nobody's calling me up and telling me, I'm just reading between the lines. Sure,   Keith Weinhold  32:23   there certainly are more competitors to the dollar now. And can you imagine what rate of inflation that we would have had if we had not outsourced our labor and productivity over to a low wage place like China in the east? Russ and I have been talking about the long term debasement of the dollar and why. More on that when we come back, including what Russ is up to today. You're listening to get rich education. Our guest is Russell Gray. I'm your host, Keith Weinhold, the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Chaley Ridge personally while it's on your mind, start at Ridge lendinggroup.com that's Ridge lendinggroup.com. You know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time, in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing. Check it out. Text family, 266, 866, to learn about freedom family investments, liquidity fund again. Text family, 266, 866,   Garrett Sutton  34:36   hi. This is Rich Dad advisor, Garrett Sutton. You're listening to the always valuable. Get rich education with Keith Weinhold, don't quit your Daydream.    Keith Weinhold  34:52   Welcome back to get rich education. We're talking with the main street capitalists Russell gray about this long term debasement of the dollar. It's an. Inevitable. It's one of the things we actually can forecast with pretty good predictability that the dollar will continue to debase. It's one of the few almost guarantees that we have in investing. So we can think about how we want to play that Russ one thing I wonder about is, did we have to completely de peg the dollar from gold? Couldn't we have just diluted it where we could instead say, Well, hey, now, instead of just completely depegging the dollar from gold, we could say, well, now it takes 10 times as many dollars as it used to to redeem it for an ounce of gold. Did it make it more powerful that we just completely de pegged it 100%   Russell Gray  35:36   it would disempower the monopoly. Right? In other words, I think that the thing from the very beginning, was scripted to disconnect from the accountability of gold, which is what sound money advocates want. They want some form of independent Accountability. Gold is like an audit to a financial system. If you're the bankers and you're running the program, the last thing in the world you want is a gold standard, because it limits your ability to print money out of thin air and profit from that. So I don't think the people who are behind all of this are, in no way, shape or form, interested in doing anything that's going to limit their power or hold them accountable. They want just the opposite. I think if they could wave a magic wand and pick their solution to the problem, it would be central bank digital currency, which would give them ultimate control. Yeah. And it wouldn't surprise me if we maybe, perhaps, were on a path where some crises were going to converge, whether it's opportunistic, meaning that the crisis happened on its own, and quote Rahm Emanuel and whoever he was quoting, you know, never let a good crisis go to waste, and you're just opportunistic, or, you know, put the conspiracy theory hat on, and maybe these crises get created in order to facilitate the power grab. I don't know. It really doesn't matter what the motives are or how it happens at the end of the day, it's what happens. It happened in 33 it happened in 60. In 71 it's what happens. And so it's been a systematic de pegging of any form of accountability. I mean, we used to have a budget ceiling. We used to talk about now it's just like, it's routine. You blow right through it, right, right. There's you balance. I mean, when's the last time you even had a budget? Less, less, you know, much less anything that looked like a valid balanced budget amendment. So I think there's just no accountability other than the voting booth. And, you know, I think maybe you could make the argument that whether you like Trump or not, the public's apparent embrace of him, show you that the main street and have a lot of faith in Main Street. I think Main Street is like, you know what? This is broken. I don't know what's how to fix it, but somebody just needs to go in and just tear this thing down and figure out a new plant. Because I think if you anybody paying attention, knows that this perpetual debasement, which is kind of the theme of the show is it creates haves and have nots. Guys like you who understand how to use real estate to short the dollar, especially when you marry it to gold, which is one of my favorite strategies to double short the dollar, can really magnify the power of inflation to pull more wealth onto your balance sheet. Problem is the people who aren't on that side of the coin are on the other side of the coin, and so the poor get poorer and the rich get richer. Well, the first order of business in a system we can't control is help as many people be on the rich get richer. That's why we had the get rich show, right? Let's help other people get rich. Because if I'm the only rich guy in the room, all the guns are pointed at me, right? I wanted everybody as rich as possible. I think Trump and Kiyosaki wrote about that in their book. Why we want you to be rich, right? When everybody's prospering, it's it's better, it's safer, you have people to trade with and whatnot, but we have eviscerated the middle class because industry has had to go access cheap labor markets in order to compensate for this inflation. And you know, you talk about the Fed mandate, which is 2% inflation, price inflation, 2% so if you say something that costs $1 today, a year from now, is going to cost $1 too, you think, well, maybe that's not that bad. But here's the problem, the natural progression of Business and Technology is to lower the cost, right? So you have something cost $1 today, and because somebody's using AI and internet and automation and robots and all this technology, right? And the cost, they could really sell it for 80 cents. And so the Fed looks at and goes, Let's inflate to $1.02 that's not two cents of inflation. That's 22 cents of inflation. And so there's hidden inflation. The benefits of the gains in productivity don't show up in the CPI, but it's like deferred maintenance on an apartment building. You can make your cash flow look great if you're not setting anything aside for the inevitable day when that roof is going to go out and that parking lot is going to need to be repaved, right? And you don't know how far out you are until you get there and you're like, wow, I'm really short, and I think that we have been experiencing for decades. The theft of the benefit of our productivity gains, and we're not just a little bit out of position. We're way out of position. That's   Keith Weinhold  40:07   a great point. Like I had said earlier, imagine what the rate of inflation would be if we hadn't outsourced so much of our labor and productivity to low cost China. And then imagine what the rate of inflation would be as well, if you would factor in all of this increased productivity and efficiency, the natural tendencies of which are to make prices go lower as society gets more productive, but instead they've gone higher. So when you adjust for some of these factors, you just can't imagine what the true debased purchasing power of the dollar is. It's been happening for a long time. It's inevitable that it's going to continue to happen in the future. So this has been a great chat about the history and us understanding what the powers that be have done to debase our dollar. It's only at what rate we don't know. Russ, tell us more about what you're doing today. You're really out there more as a champion for Main Street in capitalism.   Russell Gray  41:04   I mean, 20 years with Robert and the real estate guys, and it was fantastic. I loved it. I went through a lot, obviously, in 2008 and that changed me a little bit. Took me from kind of being a blocking and tackling, here's how you do real estate, and to really understanding macro and going, you know, it doesn't matter. You can do like I did, and you build this big collection. Big collection of properties and you lose it all in a moment because you don't understand macro. So I said, Okay, I want to champion that cause. And so we did that. And then we saw in the 2012 JOBS Act, the opportunity for capital raisers to go mainstream and advertise for credit investors. And I wrote a report then called the new law breaks Wall Street monopoly. And I felt like that was going to be a huge opportunity, and we pioneered that. But then after my late wife died, and I had a chance to spend some time alone during COVID, and I thought, life is short. What do I really want to accomplish before I go? And then I began looking at what was going on in the world. I see now a couple of things that are both opportunities and challenges or causes to be championed. And one is the mega trend that I believe the world is going you know, some people call it a fourth turning whatever. I don't consider that kind of we have to fall off a cliff as Destiny type of thing to be like cast in stone. But what I do see is that people are sick and tired of monopolies. We're sick and tired of big tech, we're sick and tired of big media, we're sick and tired of big government. We're sick and tired of big corporations, we don't want it, and big banks, right? So you got the rise of Bitcoin, you got people trying to get out from underneath the Western hegemony, as we've been talking about decentralization of everything. Our country was founded on the concept of decentralization, and so people don't understand that, right? It used to be everything was centralized. All powers in the king. Real Estate meant royal property. That's what real estate it's not like real asset, like tangible it's royal estate. It's royal property. Everything belonged to the king, and you just got to work it like a serf. And then you got to keep 75% in your produce, and you sent 25% you sent 25% through all the landlords, the land barons, and all the people in the hierarchy that fed on running things for the king, but you didn't own anything. Our founder set that on, turn that upside down, and said, No, no, no, no, no, it's not the king that's sovereign. It's the individual. The individual is sovereign. It isn't the monarchy, it's the individual states. And so we're going to bring the government, small. The central government small has only got a couple of obligations, like protect the borders, facilitate interstate commerce, and let's just have one common currency so that we can do business together. Other than that, like, the state's just going to run the show. Of course, Lincoln kind of blew that up, and it's gotten a lot worse after FDR, so I feel like we're under this big decentralization movement, and I think Main Street capitalism is the manifestation of that. If you want to decentralize capitalism, the gig economy, if you want to be a guy like you, and you can run your whole business off your laptop with a microphone and a camera, you know, in today's day and age with technology, people have tasted the freedom of decentralization. So I think the rise of the entrepreneur, I think the ability to go build a real asset portfolio and get out of the casinos of Wall Street. I think right now, if we are successful in bringing back these huge amounts of investment, Trump's already announced like two and a half or $3 trillion of investment, people are complaining, oh, the world is selling us. Well, they're selling stocks and they're selling but they're putting the money actually into creating businesses here in the United States that's going to create that primary driver, as you well know, in real estate, that's going to create the secondary and tertiary businesses, and the properties they're going to use all kinds of Main Street opportunity are going to grow around that. I lived in Silicon Valley, when a company would get funded, it wasn't just a company that prospered, it was everything around that company, right? All these companies. I remember when Apple started. I remember when Hewlett Packard, it was big, but it got a lot bigger, right there. I watched all that happen in Silicon Valley. I think that's going to happen again. I think we're at the front end of that. And so that's super exciting. Wave. The second thing that is super important is this raising capitalist project. And the reason I'm doing it is because if we don't train our next generation in the principles of capitalism and the freedom that it how it decentralizes Their personal economy, and they get excited about Bitcoin, but that's not productive. I'm not putting it down. I'm just saying it's not productive. You have to be productive. You want to have a decentralized currency. Yes, you want to decentralize productivity. That's Main Street capitalism. If kids who never get a chance to be in the productive economy get to vote at 1819, 2021, 22 before they've ever earned a paycheck, before they have any idea, never run a business. Somebody tells them, hey, those guys that have all that money and property, they cheated. It's not fair. We need to take from them. We need to limit them, not thinking, Oh, well, if I do that, when I get to be there, that what I'm voting for is going to get on me. Right now, Keith, there are kids in ninth grade who are going to vote for your next president, right?   Keith Weinhold  45:56   And they think capitalism is evil. This is part of what you're doing with the raising capitalists project, helping younger people think differently. Russ, I have one last thing to ask you. This has to do with the capitalism that you're championing on your platforms now. And real estate, I continue to see sometimes I get comments on my YouTube channel, especially maybe it's more and more people increasingly saying, Hey, I think housing should be a human right. So talk to us about that. And maybe it's interesting, Russ, if I take the other side of it and play devil's advocate, people who think housing is a human right, they say something like, the idea is that housing, you know, it's a fundamental need, just like food and clean water and health care are without stable housing. It's incredibly hard for a person to access opportunities like work and education or health care or participate meaningfully in society at all. So government ought to provide housing for everybody. What are your thoughts there?   Russell Gray  46:54   Well, it's inherently inflationary, which is the root cause of the entire problem. So anytime you create consumption without production, you're going to have more consumers than producers, and so you're going to have more competition for those goods. The net, net truth of what happens in that scenario are shortages everywhere. Every civilization that's ever tried any form of system where people just get things for free because they need them, end up with shortages in poverty. It doesn't lift everybody. It ruins everything. I mean, that's not conjecture. That's history, and so that's just the way it works. And if you just were to land somebody on a desert island and you had an economy of one, they're going to learn really quick the basic principles of capitalism, which is production always precedes consumption, always 100% of the time, right? If you're there on that desert island and you don't hunt fish or gather, you don't eat, right? You don't get it because, oh, it's a human right to have food. Nope, it's a human right to have the right to go get food. Otherwise, you're incarcerated, you have to have the freedom of movement to go do something to provide for yourself, but you cannot allow people to consume without production. So everybody has to produce. And you know, if you go back to the Plymouth Rock experiment, if you're familiar with that at all, yeah, yeah. So you know, just for anybody who doesn't know, when the Pilgrims came over here in the 1600s William Bradford was governor, and they tried it. They said, Hey, we're here. Let's Stick Together All for one and one for all. Here's the land. Everybody get up every day and work. Everybody works, and everybody eats. They starved. And so he goes, Okay, guys, new plan. All right, you wine holds. See this little plot of land, that's yours. You work it. You can eat whatever you produce. Over there, you grace. You're going to do yours and Johnson's, you're going to do yours, right? Well, what happened is now everybody got up and worked, and they created more than enough for their own family, and they had an abundance. And the abundance was created out of their hunger. When they went to serve their own needs, they created abundance forever others. That's the premise of capitalism. It's not the perfect system. There is no perfect system. We live in a world where human beings have to work before they get to eat. When I say eat, it could be having a roof over their head. It could be having clothes. It could be going on vacation. It could be having a nice car. It could be getting health care. It doesn't matter what it is, whatever it is you need. You have the right, or should have, the right, in a free system to go earn that by being productive, but the minute somebody comes and says, Oh, you worked, and I'm going to take what you produced and give it to somebody else who didn't, that's patently unfair, but economically, it's disastrous, because it incentivizes people not to work, which creates less production, more consumption. I have another analogy with sandwich makers, but you can imagine that if you got a group if you got a group of people making sandwiches, one guy starts creating coupons for sandwiches. Well then if somebody says, Okay, well now we got 19 people providing for 20. That's okay, but then all the guys making sandwiches. Why making sandwiches? I'm gonna get the coupon business pretty soon. You got 18 guys doing coupons, only two making sandwiches. Not. Have sandwiches to go around all the sandwiches cost tons of coupons because we got way more financialization than productivity, right? That's the American economy. We have to fix that. We can't have people making money by just trading on other people's productivity. We have to have people actually being productive. This is what I believe the administration is trying to do, rebuild the middle class, rebuild that manufacturing base, make us a truly productive economy, and then you don't have to worry about these things, right? We're going to create abundance. And if you don't have the inflation is which is coming from printing money out of thin air and giving to people who don't produce, then housing, all sudden, becomes affordable. It's not a problem. Health care becomes affordable. Everything becomes affordable because you create abundance, because everybody's producing the system is fundamentally broken. Now we have to learn how to profit in it in its current state, which is what you teach people how to do. We also have to realize that it's not sustainable. We're on an unsustainable path, and we're probably nearing that event horizon, the path of no return, where the system is going to break. And the question is, is, how are you going to be prepared for it when it happens? Number two, are you going to be wise enough to advocate when you get a chance to cast a vote or make your voice heard for something that's actually going to create prosperity and freedom versus something that's going to create scarcity and oppression? And that's the fundamental thing that we have to master as a society. We got to get to our youth, because they're the biggest demographic that can blow the thing up, and they're the ones that have been being indoctrinated the worst.   Keith Weinhold  51:29   Yes, Fed Chair Jerome Powell himself said that we live in a economic system today that is unsustainable. Yes, the collectivism we touched on quickly descends into the tyranny of the majority. And in my experience, historically, the success of public housing projects has been or to mixed at best, residents often don't respect the property when they don't have an equity stake in it or even a security deposit tied up in it, and blight and high crime rates have often followed with these public housing projects. When you go down that path of making housing as a human right, like you said earlier, you have a right to go procure housing for yourself, just not to ask others to pay for it for you. Well, Russ, this has been great. It's good to have your voice back on the show. Here again, here on a real estate show. If people want to connect with you, continue to see what you've been up to and the good projects that you're working on, promoting the virtues of capitalism. What's the best way for them to do that?   Russell Gray  52:31   I think just send an email to follow at Russell Gray, R, U, S, S, E, L, L, G, R, A, y.com, let you know where I am on social media. I'll let you know when I put out new content. I'll let you know when I'm a guest on somebody somebody's show and I'm on the cusp of getting my own show finally launched. I've been doing a lot of planning to get that out, but I'm excited about it because I do think, like I said, The time is now, and I think the marketplace is ripe, and I do speak Main Street and macro, and I hope I can add a nuance to the conversation that will add value to people.   Keith Weinhold  53:00   Russ, it's been valuable as always. Thanks so much for coming back onto the show. Thanks, Keith.   Yeah, terrific, historic outline from Russ about the long term decline of the dollar. It's really a fresh reminder and motivator to keep being that savvy borrower. Of course, real estate investors have access to borrow giant sums of dollars and short the currency that lay people do not. In fact, lay people don't even understand that it's a viable strategy at all. Like he touched on, Russ has really been bringing an awareness about how decentralization is such a powerful force that reshapes society. In fact, he was talking about that the last time that I saw him in person a few months ago. Notably, he touched on Nixon era wage and price controls. Don't you find it interesting? Fascinating, really, how a few weeks ago, Trump told Walmart not to pass tariff induced price increases onto their customers. Well, that's a form of price control that we're seeing today to our point, when we had the father of Reaganomics, David Stockman here on the show, five weeks ago, tariffs are already government intervention into the free market, and then a president telling private companies how to set their prices, that is really strong government overreach. I mean, I can't believe that more people aren't talking about this. Maybe that's just because this cycle started with Walmart, and that's just doesn't happen to be a company that people feel sorry for. Hey, well, I look forward to meeting you in person in Miami in just four days, as I'll be a faculty member for when we kick off the terrific real estate guys Investor Summit and see and really getting to know you, because we're going to spend nine days together. Teaching, learning and having a great time on a cruise ship in the Caribbean. Until then, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 3  55:13   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  55:36   You know whatever you want, the best written real estate and finance info. Oh, geez, today's experience limits your free articles access and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters, and I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read. And when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text. GRE to 66866, while it's on your mind, take a moment to do it right now. Text, GRE to 66866   The preceding program was brought to you by your home for wealth, building, getricheducation.com.

Garrett Sutton is a corporate attorney, asset protection expert and best selling author who has sold more than a million books to guide entrepreneurs and investors. For more than 30 years, Garrett Sutton has run his practice assisting entrepreneurs and real estate investors in protecting their assets and maximizing their financial goals through sound management and asset protection strategies. The companies he founded, Corporate Direct and Sutton Law Center, currently help more than 13,000 clients protect their assets and incorporate their businesses. Garrett also serves as a member of the elite group of “Rich Dad Advisors” for bestselling author Robert Kiyosaki. A number of the books Garrett Sutton has authored are part of the bestselling Rich Dad, Poor Dad wealth-building book series. Garrett attended Colorado College and the University of California, Berkeley, where he received a B.S. in Business Administration in 1975. He graduated with a J.D. in 1978 from Hastings College of Law, the University of California's law school in San Francisco. Garrett is licensed in Nevada and California. Garrett is a member of the State Bar of Nevada, the State Bar of California, and the American Bar Association. Garrett lives in Reno, Nevada has been recognized as a Lifetime Achievement Member by America's Top 100 Attorneys. Ted Sutton is a licensed attorney who is the son of Garrett Sutton. Ted was born and raised in Reno, NV. He graduated from the University of Utah with a B.S. in Mining Engineering. During one of his summers, he spent three months working at a mine in Chile. This experience made him realize that legal matters interested him more than engineering ones. After graduating in 2018, he took a leap of faith and decided to attend law school the following year. Ted attended the University of Wyoming College of Law in the fall of 2019. In his third year, he served as the Student Director of the Business Entrepreneurship Practicum, where he helped clients form and maintain LLCs. He graduated in May 2022. Ted is now licensed to practice law in Wyoming and Nevada. What You Will Learn: Who is Ted and Garrett Sutton? What is the Corporate Transparency Act? How does the CTA affect anonymity previously enjoyed by business owners using registered agents and LLCs? What is the importance of structuring business and real estate ownership to protect personal assets, especially in the context of lawsuits? How does Corporate Direct assist clients in structuring their entities for asset protection and compliance with the CTA? What is the Wyoming LLC? The significance of having an LLC as a first line of defense against legal claims, alongside good property management and insurance. How can trusts work in conjunction with LLCs to facilitate smooth transitions of property ownership to heirs without probate complications? The importance of patience in the investment journey and the value of having mentors to guide you. Ted and Garrett Sutton share how everyone can contact him. Additional Resources from Ted and Garrett Sutton: Website: https://corporatedirect.com/ Email: tedsutton@sutlaw.com Phone: +1 (775) 824-0300 LinkedIn: https://www.linkedin.com/company/corporate-direct-inc-/ Facebook: https://www.facebook.com/corporatedirectnv/ YouTube: https://www.youtube.com/channel/UCT-pLv4_qmcTH-Xnu_uEyNQ Attention Investors and Agents Are you looking to grow your business? Need to connect with aggressive like-minded people like yourself? We have all the right tools, knowledge, and coaching to positively effect your bottom line. Visit:http://globalinvestoragent.com/join-gia-team to see what we can offer and to schedule your FREE consultation! Our NEW book is out...order yours NOW!   Global Investor Agent: How Do You Thrive Not Just Survive in a Market Shift? Get your copy here: https://amzn.to/3SV0khX HEY! You should be in class this coming Monday (MNL). It's Free and packed with actions you should take now! Here's the link to register: https://us02web.zoom.us/webinar/register/WN_sNMjT-5DTIakCFO2ronDCg

In this episode of Finding Financial Freedom, Dr. Disha Spath welcomes Ted Sutton, a licensed attorney with Corporate Direct, and Garrett Sutton, founder of Corporate Direct and the Sutton Law Center, to discuss how physicians and professionals can take control of their financial futures. From forming LLCs to avoiding tax pitfalls, Ted and Garrett break down the essentials of asset protection and business entity management in an engaging and practical conversation. With over 14,000 clients served and multiple bestselling books, Garrett Sutton brings decades of experience to help doctors secure their personal and professional assets. So if you're thinking about starting a private practice or just looking to safeguard your wealth, this episode is the guide that will help you. Key Topics Covered: 1. Why Physicians Need Asset Protection Learn why it's crucial to protect not just your practice but your personal assets, and how business entities can shield your wealth. 2. The Essentials of Setting Up an LLC Step-by-step guidance on forming an LLC, understanding the “continuity of obligation,” and ensuring it's done right from the start. 3. Maintaining Compliance with the Corporate Transparency Act How this new law affects business owners and what you need to do to stay compliant. 4. Avoiding Common LLC Pitfalls From neglected paperwork to improper renewals, discover the most common mistakes that can jeopardize your LLC—and how to avoid them. 5. Garrett Sutton's Expertise in Asset Protection Insights from Garrett's bestselling books (Start Your Own Corporation, Loopholes of Real Estate) and decades of experience helping professionals secure their financial futures. Resources Mentioned: PearsonRavitz Rich Dad Poor Dad by Robert Kiyosaki Veil not Fail by Garrett  Sutton Start Your Own Corporation, Loopholes of Real Estate by Garett Sutton Corporate Direct Website Sutton Law Center Listener Takeaways: Understand why forming an LLC is essential for protecting both your medical practice and personal assets.   Learn the critical steps to setting up and maintaining a compliant business entity under the Corporate Transparency Act.   Avoid common mistakes in LLC management and ensure your financial and legal safeguards are rock solid. Connect with Us: Host: Dr. Disha Spath, The Frugal Physician Guests:  Garett Sutton, founder of Corporate Direct Atty. Ted Sutton of Corporate Direct Follow us on Instagram, Facebook, and Twitter for updates on upcoming episodes. Thank you for tuning in! Be sure to share this episode with anyone navigating student loan repayment.   This episode is sponsored by: PearsonRavitz – Helping physicians safeguard their most valuable assets.  This episode is also sponsored by FacetWealth – Discover how Facet is transforming financial planning for physicians with personalized, flat-fee financial planning—visit facet.com/frugalphysician to start building your financial future today.

Are you a real estate investor concerned about asset protection and tax advantages? Do you want to ensure your investments are shielded from legal risks and pitfalls?Then you're in the right place! In this enlightening episode of Podcasts, we dive deep into the world of asset protection with experts Garrett Sutton and Ted Sutton.Garrett Sutton, best-selling author of "Loopholes of Real Estate," and Ted Sutton, author of "The Five Tricks to Teach Your Kids About Money," join hosts Michael Blank and Garrett Lynch to discuss essential strategies for protecting your investments. Corporate Direct offers invaluable services, including free 15-minute consultations and comprehensive financial education available on Sunstream.com.Listen as the Suttons share insights on the Corporate Transparency Act, corporate veil piercing, and proper LLC management. Plus, you'll learn why Wyoming is a favorable state for setting up LLCs and how to effectively use charging order protections.For full episode show notes visit: https://themichaelblank.com/podcasts/session443/

Join Garrett Sutton, renowned author from the Rich Dad Poor Dad series, and Ted Sutton as they delve into crucial strategies to protect your assets now! With the Corporate Transparency Act on the horizon, understanding its implications is vital for every real estate investor. Garrett brings his extensive knowledge and expertise in asset protection, offering actionable insights to safeguard your investment portfolio.In this episode, you'll discover:The essentials of the Corporate Transparency Act and its impact on small business owners.Garrett's expert advice on setting up LLCs for real estate investment to maximize asset protection.The importance of staying informed about federal and state requirements in real estate.Connect with Garrett Sutton for more invaluable insights and strategies to enhance your real estate journey. Don't miss out on the chance to build generational wealth with informed decisions!

A prominent Florida Builder and #1 Wall Street Journal Best-Selling Author joins us to discuss the benefits of build-to-rent properties, including affordable housing and attractive mortgage rates. He has already done all the work for investors, offering new build income properties that are sometimes rented. We discuss the importance of median value and affordability index in choosing profitable areas for long-term real estate investments. Learn about new build income properties with rate buydowns as low as 3.75%. Important market dynamics and investor strategies, including the trade-offs between cash flow and equity growth. Show Notes: GetRichEducation.com/518 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 For advertising inquiries, visit: GetRichEducation.com/ad Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation   Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  00:01 Welcome to GRE. I'm your host. Keith Weinhold, a great way to forecast the future of the real estate market is to look at the level of new building. I've got a surprise to reveal there then a focus on one of the hottest in migration states. That's popular because it promises cash flow for real estate investors today on Get Rich Education.   00:24 Since 2014 the powerful Get Rich Education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors and delivers a new show every week since 2014 there's been millions of listener downloads in 188 world nations. He has a list show guest top selling personal finance author Robert Kiyosaki. Get Rich Education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the Get Rich Education podcast. Sign up now for the Get Rich Education podcast, or visit getricheducation.com     Corey Coates  01:09 You're listening to the show that has created more financial freedom than nearly any show in the world. This is Get Rich Education.   Keith Weinhold  01:25 Welcome to GRE from Plains Georgia to White Plains New York and across 188 nations worldwide, you are listening to Get Rich Education. I'm your host. Keith Weinhold, we are an educational platform. And if you haven't yet, I really suggest that you spend 100 hours learning how to invest in real estate. The average person works 2000 hours a year for 40 years. That's 80,000 hours of working for money. I implore you to spend 100 hours learning how to keep it and grow it and leverage it and create income and tax advantages from it. 80,000 hours of lifetime work, 100 hours learning real estate investing. Now, when someone like a presidential candidate produces, still vague talk about building 3 million starter homes in four years. That actually appears just about impossible. Within the existing structure. We would need 2 million housing starts per year from 2025 to 2028, in order to overcome our existing shortfall. And we haven't exceeded 1.8 million in any year in the moderate era, and that's even when demand was extraordinary and interest rates were low. Just you know, look at the reality of what home builders need to actually do, and this is even if they don't have any excessive not in my backyard. Pushback, builders have to procure land, meaning they need to lay out cash far before building, and then they need to jump through zoning and building hoops in counties and cities, in towns, in communities, and sometimes those hoops can reach preposterous levels with substantial delays. Builders need to secure financing, and for most, interest rates are still in the 9% plus range. And then builders need to acquire a whole local network of contractors and subcontractors, and then they need to keep those contractors and subcontractors busy, or else they're gonna lose those workers. So builders have to work to maintain their teams once they found them. And if that's not enough, this is all amidst a historically bad skilled labor shortage, meaning those workers can be enticed to go work for somebody else. As you know, skilled worker demand far exceeds skilled worker supply. So for builders, it takes years of planning and development. In a lot of cases, they sit on land for many years before the market conditions are right for the actual build. Well, look, at least there is finally acknowledgement among our highest elected officials that we do need to address the core problem, but our elected officials proposals aren't really so good, and our country's housing problem is largely a regulatory issue. Later today, we'll talk to a builder that's already done all of this for you, so it's not preconstruction that has new build income properties complete, available sometimes even rented already, and they help you buy down your mortgage rate to a level that's really low. You'll soon learn about it. But first, let's talk more about adding new housing supply in the larger apartment segment. It's something that can help you see the future here, but it isn't getting enough tension outside of multifamily industry circles, and that is the fact that apartment starts are plummeting to 11 year lows. And this is a real surprise to some people, multifamily completions are outpacing starts by the widest margin since 1975 and I mention this because, you know, you probably keep hearing and reading about how apartment construction is at all time highs, but really, that is a story from two years ago. It takes about two years to go from an apartment construction start to a completion. Well, today we're seeing that huge surge of apartment starts two years ago morph into completions. That's the piece to be aware of here. And to give you some idea about the new apartment building, slow down through July, we have completed 314,000 multifamily units, and we started just 193,000 units. That's all according to census stats that year to date. Start total is the nation's lowest since 2013 when we were just building our way out of the global financial crisis. Also a larger share of apartment supply. In this next cycle, it's likely to be affordable housing, because that's where the tax incentives are in the last wave of apartment construction a few years ago, it was more higher end stuff, and the result is today, apartments are oversupplied in a lot of markets, leading to falling apartment rents, or just somewhat stable and frozen apartment rents in heavily overbuilt places like Austin, Texas and a lot of others. But this slowdown in New Starts of larger apartments is why some have bullishness on the multifamily outlook for 2026 and beyond supply is the biggest headwind for apartment investors today. While it is an enormous tailwind for renters, it's good for them, but those dynamics appear likely to shift again. It took an almost perfect storm of variables to push apartment construction to 50 year highs, and it's difficult to see a scenario where construction could re-accelerate back to those peaks. Today's apartment completion levels could mark a high. It's generational. You may never see it again. So to summarize, in the world of large apartments, supply is still up, even outpacing demand in a lot of markets. It all came from a big building wave that began when interest rates were low two years ago. They're mostly upper end places. Apartment syndicators also got hit with higher rates that reset on them, and you've seen the value of some apartment buildings fall 30%. It is bad. But long term, I expect that apartments are going to be fine. New lease ups are absorbing what's out there. The demographics show that renters will continue occupying apartments. Interest rates have already fallen and they're expected to keep falling, and you don't have very many new apartment starts, it's that last piece that a lot of people aren't aware of. So that's the forecast over the next few years for five plus unit apartments. When it comes to the market dynamics for one to four unit properties. I'm going to discuss this with one of the voices of GRE marketplace today. They are a build to rent provider building new construction, single family homes, duplexes and fourplexes for tenants that they sell to investors. Hey, I'd like to welcome in a home builder and property provider serving Florida, basically statewide, known as North America's leading build to rent property developer, and he believes in what he builds and offers others, because he's been a real estate investor himself for more than two decades. Hey, Jim, welcome back onto the show.   Jim Sheils  09:45 Keith, good to be here. Thanks for having me.   Keith Weinhold  09:47 Jim, we have a lot of exciting things to talk about. What you're doing in Florida. You've really helped out a lot of our investors and followers so far. You have some really interesting things to tell us about. Rate buydowns and just how low those rate buydowns are on some new build properties. And I sure want to get to that. But first, why don't we just pull back big picture, and from the 30,000 foot national view, before we talk about Florida, what are some of the important dynamics you see in the real estate market here in late 2024   Jim Sheils  10:16 Yeah, it's been interesting. The media is always late to the party, as you know, Keith, I've seen some interesting stats. You know, affordability nationwide has gone from 480,000 about eight months ago, and now it's down to about 405, so we've already seen the affordability index come down nationwide, and it's hit really well here in Florida. One of the reasons why is there's definitely been some price adjustments on higher priced property in Maine markets, Miami, Orlando, Tampa, areas that we don't build because the numbers didn't work. So that's been really good to see that affordability also, rates are just starting to drop. But here's an interesting thing. A year ago, Keith, the average mortgage payment for the average person buying a home, was 57% of their total income. Now that has dropped to about 44% of their total income. So I'm always looking at affordability and overall median pricing, and that's been a really, really good thing for us. As I had said, second tier markets where you can get affordability, but also great amenities, great lifestyle is where we've always focused on building, and it seems like that is really continuing to have a solid pulse. I love visiting some of those bigger markets, you know, taking my kids to Disney, but I'm glad we stayed out of there, because it seemed a little more temperamental, and we're glad we're in the more second tier markets.   Keith Weinhold  11:39 You cited an affordability index there earlier. Now, affordability still, historically, is not that good, but it's not as bad as it used to be. Tell us more about that index.   Jim Sheils  11:49 Yeah, I always have looked at, you know, the affordability index. Let's just use an example, Orange County, California. I think the median value of a home there is $1.1 million. In Jacksonville it's 305, and so you get a score for based on what is the average family income per price of the home. And it's kind of like your report card. And there's certain areas that have an A, and there's certain areas that have an F. You know, we have lots of investors come to us with you guys too, from New York or Seattle or Orange County. And this is something I look at, what is the affordability index, and just know how they figure out the score on your affordability index. What's the average price of the home in that area, and what is the average family income for that area? And the correlation of those two numbers shows whether you have a good score or bad score.   Keith Weinhold  12:39 And now that we've looked at the national picture somewhat, you mentioned some of the major metro markets in Florida, some of which you specifically stay out of, and that's simply because the numbers don't work for long term rentals. They don't provide cash flow. Tell us more, just in general, about some of the areas that you've chosen and why is there profitable for long term real estate investors?   Jim Sheils  13:03 Yeah, this median value, this affordability index, is so key when we're able to get into home still, you know, Jacksonville is barely over 300,000 as the media now, we're able to cash flow right off the bat. So like Jacksonville is still as the population growth, the economic growth is occurring. It's desirable coastal community, and supply and demand is in our favor. We don't have enough housing, so that's where we focus all of those factors, not only here, but on a smaller scale, in Palm Coast, in Ocala, where we've done a ton with the GRE community. And then southwest Florida. We don't go to Southeast Florida, too expensive, too overbuilt, too high on insurance, but that Greater Fort Myers area, which did experience the highest growth anywhere in the country during the pandemic, which was interesting to watch, we're still seeing a lot of good fundamentals down there. And again, at that affordable range, it makes a big difference when you're buying at a medium priced home is, let's say 320,000 opposed to 580,000 makes a huge difference to whether it will cash flow off the bat or have a negative cash flow. And as you know, Keith, even though we're doing new construction high growth areas, we want to see app cash flow right away.   Keith Weinhold  14:13 Now, you are a builder, you are adding much needed inventory to the national housing supply, where we've had a shortage of millions of units per years, depending on what source you cite in quote there, a lot of the estimates as to the housing shortage really are all over the place. But many sources state that Florida inventory levels just statewide. Here they are back about to pre pandemic levels. So they have recovered. They are back to about 2019 levels. And I think one important thing for people to remember is, well, 2019 was a pretty good, balanced housing market.   Jim Sheils  14:50 It was a normal market. We liked 2019 you know, that was a good market. There was growth, but it was sustainable, more predictable, steady. So I'm happy to be back in 2019. You know, 2020 21 levels there were, there was less than a month's worth of inventory on the MLS that it was dire. Yeah, it was just such a skewed thing. And you've studied this for a long time. So everyone if you say, Oh well, it went from this to this. I love how you talk about 2019 because by all statistics that was a very normal market here in Florida. So we're happy to get back to that, because you have to have a certain amount of inventory level to balance the playing field. We want to see growth, but I'm more of a long term player, as you know, we don't need to see huge spikes, because that can get a little volatile.   Keith Weinhold  15:36 Now, as a builder, talk to us about builder sentiment since, like we talked about before, we are in a falling interest rate environment, mortgage rates are already down about one and a half percent from the recent highs, and the Fed hasn't even begun lowering rates yet. So talk to us more about what those lower rates do to build their sentiment. And we're not just talking about rates for buyers here, which matter, but it's the rate that builders like you that have to pay the typically factory in here too.   Jim Sheils  16:06 Yeah, it's an interesting market right now, Keith, and here's something I want to give great encouragement from as you know, we do build some for the institutions and the larger groups. The little guy, the small investor, has the guerrilla warfare advantage over them right now, because, as you know, we right now have announced financing. We're able to have this builder forward commitment where we're buying large tranches of money for residential mortgages. That means, you know, individuals like we work with all the time, Keith, that buy a few properties, we can get them this incredible financing right now, at 3.75 we're beating the market. You know, you go into a B of A and try to get a duplex finance, you're probably looking at six and three quarters. And we're able to do that because it's residential real estate. Some of our bigger guys, they would buy all of our inventory. But we can't get a institution qualified for these individual investor loans for residential real estate. They have to go to the commercial world. And as you know right now, Keith, the commercial world is screwy. People aren't lending. The rates are really high, and even these big guys have to sharpen their pencils and do their numbers and they go, Gosh, it's not panning out until rates drop. So that means these bigger groups are on the sidelines. And we all hear the complaints, all the big guys are buying all the properties they own 40% well, they're on the sidelines, and our little troopers and investors are building their portfolios in ways they cannot so it's exciting to see now for us too. What's lucky and unlucky is a lot of good builders out there that we're friends with. They can't get financing. The banks have gotten so stringent. So they might even have a good balance sheet and a good track record, but the banks are getting really stringent where Chris and I are. As you know, we were partially acquired by Sumitomo forestry about a year and a half ago. They're a 331 year old company, and when we decided to team up with them, they said, We love Florida and we love build to rent, go, and so now we have zero bank debt, and they've given us a green light to build out all of our inventory. We have five, over 5000 lots in Florida, and we don't have the bank slowdowns. So to find a good builder, you have to make sure they have financing in place, because they're going to be a great builder out there that just can't get the funding to do the job for you. So that's another thing you want to look for.   Keith Weinhold  18:16 Right. And last time I checked, you've got more than 925 current independent income property investors, many of those whom are GRE listeners. Well, we're going to talk more about just how low those rates are. Who participates in the buy down? I already know that most of it's the builder, and just part of it is you, the investor. You're listening to get residuation. We're talking about Florida, build to rent property more when we come back, I'm your host. Keith Weinhold Hey, you can get your mortgage loans at the same place where I get mine, at Ridge lending group  NMLS 42056, they provided our listeners with more loans than any provider in the entire nation because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President Caeli Ridge personally. Start Now while it's on your mind at ridgelendinggroup.com That's ridgelendinggroup.com  Your bank is getting rich off of you. The national average bank account pays less than 1% on your savings. If your money isn't making 4% you're losing your hard earned cash to inflation. Let the liquidity fund help you put your money to work with minimum risk, your cash generates up to an 8% return with compound interest, year in and year out, instead of earning less than 1% sitting in your bank account, the minimum investment is just 25k you keep getting paid until you decide you want your money back. Their decade plus track record proves they've always paid their. Investors 100% in full and on time. And I would know, because I'm an investor too, earn 8% hundreds of others are text FAMILY to 66866, learn more about Freedom Family investments Liquidity Fund on your journey to financial freedom through passive income. Text, FAMILY to 66866.     Garrett Sutton  20:28 This is Rich Dad advisor, Garret Sutton, to grow your wealth. Listen to the always valuable. Get Rich Education.   Keith Weinhold  20:45 Welcome back to Get Rich Education we're talking about half of progress real estate investing in high growth Florida, with a renowned build to rent provider there. And I think a lot of this really comes down to trust with the fluctuating interest rate environment that we've had, some people don't trust certain builders or that investor to go ahead and put down a deposit on a vacant lot and wait 12 months or more for it to be built. But we're not talking about pre construction here.   Jim Sheils  21:16 No, no. Since we steamed up with Sumitomo, you know a lot of good builders again, they can't even start the project until they have a a buyer with a deposit down. That's the requirement for the bank to give them the money to start building. We don't have bank requirements, so we're building on our own dime, and so we are having properties completed before you even have to make an offer on them. So these are finished properties, sometimes a tenant already in place. I know just this month, there's been a few GRE people very happily stepping into pre rented homes. So you don't have to wait that period. If you're ready to move your money or have a 1031 exchange, we can fulfill those no problem, and close within 30 days Our in house financing, Keith, which I know we're about to go over, I want to make sure people know this is for not only our single families, but our duplexes and our quads as well.   Keith Weinhold  22:02 Tell us more about that in house financing that's something of great interest to people, and especially with these mortgage rate buyouts.   Jim Sheils  22:09 Yeah, everyone says, Oh, I wish I had locked into a mortgage before June of 2022 right? I mean, for every time we heard that, Keith, well, now you can and what we're able to do since we have the balance sheet we have now, with teaming up with this bigger company, banks will allow us to do what's called a builder forward commitment and buy large tranches of money. We're in the money buying business, I guess, now, and we have to commit to large amounts of money, but by doing that, we're able to pay fees upfront to buy down the mortgages. So right now, our most popular rate is 3.75. You as the buyer, and these are called discount points, which I've heard Keith talk about. You're bringing in a little under two discount points to get the 3.75 rate. And you say, Okay, well, Jim, we're bringing in a little less than two points. What are you bringing in? We're not really supposed to talk about that, but here's what I can tell you, do this test, go to one of your mortgage friends, or your B of A or Wells Fargo, and ask it what it will take for you to pay to buy down a rate for 3.75. Now, first of all, they will not allow you to do that much. We are on a more high volume schedule that will allow us to do that, but let's say, if they would, here's what the feedback we've got. If you were to try to do this on your own, Keith, you or I just walking into our bank, you would have to pay anywhere from 12 to 15 points to make this happen. Gosh, and that was the advantage of working as a collective group like we do together, you and I in our investor community, because now that we're able to do volume, it benefits us   Keith Weinhold  23:39 all. No one really knows where interest rates are going to go. I think it's pretty foolish to try to predict them, but very few people think they're ever going to drop to the levels that we saw during the depths of the pandemic, 3.75% if you get locked in there, it's pretty unlikely that the future market is going to meet that down the road at all and tell us more about that product type, the single family homes, duplexes and fourplexes that this is available on. And of course, they're all new build.   Jim Sheils  24:09 Yeah, we do a combination of new build on all of these. We found, Keith, a lot of build to rent. Companies really only focused on the single family home, but we found, you know, to increase rental yield and overall returns. There was really a lack in the market for duplexes in residential areas and quads, again, and those are close to commercial deals, without the commercial financing, they allow more affordable rent in more residential areas that people can afford and want to be in. And we found through the pandemic, these had a greater calling to them than, let's say, a large apartment complex. You know, people want to be a little more spread out, have their own yard, like in a duplex, and they get that there, but they get it at a fraction of the price that a complete single family home would be at. So we found, as you know, most of our investors, our average client, buys three to eight properties with us, and no surprise, they. Buy a mixture of single family duplex and quads. I know we agree on this. Keith, the single family home has had the best history of all of great equity appreciation, and the duplex might lag behind that a little bit, but it's got a better cash flow. So I will always do little trade offs and combo my own portfolio to make up for two of those. And that's what our counselors usually coach our people. I know yours do as well.   Keith Weinhold  25:23 Yeah, the economies of scale for the real estate investor really can be there long term with duplexes and fourplexes, and you're really helping fill a need. Some months ago, I talked about the mmm multi families, missing middle, about how so few duplexes, triplexes and fourplexes are being built today, as compared to when you had about three times as much construction in those property types that you did in the 1980s a lot of that's really gone away. You're really bringing it back. We talk about some of the areas where these are built. You know, Jim years ago? Well, really about 10 years ago, when I began this show, I was often talking about how I want to be invested in Metro statistical areas that have a population of at least 500,000 to 1 million people, in order to get a diversity of economic situations there, because you do need rent paying tenants. But so much has changed since then, starting four to five years ago, with the work from home movement, I'm more open to more outlying areas than I had been previously. So tell us about some of these areas that you choose to build in. In Florida.   Jim Sheils  26:29 yeah, you know our hub market where we started doing rehabs many, many, many years ago was Jacksonville, Florida. Yeah, and we still are headquartered here, but Jacksonville, again, is the most affordable coastal city, I believe, still on the East Coast, which brings great fundamentals. It hits both of your things, Keith, where it is larger, but it has more of a sprawl and that larger population and the fundamentals look really well again, that overall median price is still very low. And we branch down to Palm Coast, which is a little more of a higher end area, but a bedroom community, to Jacksonville, the silent soldier, the one that really surprised us the most. I think you remember, this was Ocala. In fact, when Christopher said, Do you want to go start building Ocala, and this is about a decade ago, I said, Wow, Ocala, isn't there only, like, some horses out there? Yeah, now he's a horse guy. So he laughed, and he said, Oh, sure enough, I put my foot in my mouth. But Ocala, the amount of growth that we've seen out there has been incredible. And Ocala is really well placed because it's just below Gainesville, where the, you know, there's the medical centers, the university, and it's just north of the villages, which is the second largest retirement community and growing. Not only that, it has its own economic infrastructure, but it's really well placed in the difference of a price of a home for a starter family in Ocala compared to like Northern Tampa. There is no comparison. You're talking half. So we like that. And also with rents, it's got a great lifestyle. And then southwest Florida again, Southwest Florida, Keith, we're very lucky that we took some risk there. A lot of builders would like to be building down there, but as you remember, we took some big risks in 2020 we talked to some of our friends and said, this can be really good or really bad for real estate. We went with the really good and we loaded up on, well, a lot, over $20 million worth of land at the pre jump prices. Now we're into land right down there so we can get them built right for you guys still make a margin for ourselves that other people that they're trying to get land today, they just can't do and Southwest Florida has been a really good market for us. Had that hurricane there a few years ago, and all of our new construction properties did well. In fact, of almost 300 properties that were under construction, we had four that needed insurance claims, and those four, Keith, well, we had just put up the freestanding walls. We hadn't been able to tie the roof on before the winds and the winds knocked the walls over, and that's it. But there was no flooding, and that's why you get an insurance break. And all the markets that we're in, we always hear, Oh, you can't get insurance in Florida. And I kind of giggle and say, on which properties? Because there is a very different treatment for a new construction property built 2004 or newer, compared to a property built 1957 on lower ground.   Keith Weinhold  29:02 Yeah this is such an important thing to bring up. Property insurance premiums have been hiked substantially on Florida, existing, older build properties, not the post 2004 ones like Jim is talking about here and yeah, for those that don't know, Ocala, there in Central Florida is known as an equestrian area for horses and your business partner, Chris, that's his big hobby. So yeah, when you first went there, you were with Chris. You were like, are you just trying to get there because you want to be around horses more and what? But now there's actually a good fundamental reason for this, where it makes sense to build there. Well, Jim, why don't you talk about how you've specifically helped one of our listeners, or the typical buyer there in how that process looks, including an approximate timeline to get them from the time where they submit an offer all the way through to closing.   Jim Sheils  29:52 Yeah. Well, you know, our team and your team work together. We want to make sure we set people's goals and expectations. Up front. What are you looking for? What are you trying to get into? If someone says to me, Look, I'm looking to get into a great starter home with the lowest basis and highest cash flow, I'm gonna say, Okay, let's look at Ocala. They say, Look, we're looking more long term. I'm more of an equity growth player. Yeah, I want cash flow. I'm gonna say, Okay, let's look at Palm Coast, or southwest Florida. Together with our teams and our property counselors, we try to assess what are your needs and where are you wanting to go. Now, all of our vehicles will get through there, but some a little better than others, depending on the plan you want to put together. And so once we do do that, what we like to do is go through properties that seem to match what they're most wanting. We'll go through the performance. We'll look up the site maps, we'll go through the different fundamentals of that direct area, and then, if it seems to make sense, first thing we got to do is get you pre qualified with our in house lender. All is that a go? Well, then we can make an offer, get it in. We have a whole onboarding process. You know that we've done hundreds and hundreds and hundreds of time, and now we're over. I know I laugh because we talked recently and you said, I think you're at a 925. Investors, we're over 1000 now, so we're continuing to grow. But again, we've tried to make it fluid, where our people are part of the process, but never alone. We answer the questions on the financing help get you the directionals on the insurance now, you can use whatever insurance company you want. 99% of them use the company that we recommend. We have no financial affiliation with them. But everyone asked years ago when Chris and I started this, well, who do you use for insurance? Who do you use? So we just gave them who we used, and this person usually undercuts and better coverage than most. So all those pieces Keith with going through that and again, this is about a 30 day process of getting qualified, once you pick the property, submitting the contract with your 10% deposit, doing your onboarding for Property Management and Insurance pieces. And then, obviously you don't have to come here to see us for closing. We do all of our traveling closings for you. And most important thing I like to set up with PM is, where do you want the money wired?   Keith Weinhold  31:59 That's a great question. Well, yeah, I mean, this is a great answer for so many of our listeners, those super attractive rate buy downs. And then the big thing is, is, in many cases, you're not waiting and waiting and waiting months for the build to take place. Well, Jim, before I tell our listeners how they can connect with you over there, do you have any last thoughts overall with anything that we did touch on or did not.   Jim Sheils  32:22 I want to encourage people, if they're not looking to get in the next to real estate in the next two to three years, not a big deal. But if you're looking to get in sometime over the next year, then I would really look at what's happening, things you talk about with the rates and the interest, because I do believe that institutional money within the next six months, it'll be interesting when we reconnect, Keith, that are going to start coming in and buying up more residential real estate. However, their hands are tied right now. They cannot get the financing that the smaller guy can. So whether it's with us or someone else, take advantage. Take advantage. David and Goliath, this is a great opportunity where the big guys cannot keep up with you, because they can't get the financing and insurance rates that you can so take advantage.   Keith Weinhold  33:03 Well, I specifically wanted to have you on today because it is an opportunistic time. They serve Florida with new builds. Learn more about their properties and even get some under contract. If you so wish, you can do so by contacting your GRE investment coach. If you don't have one yet, you can do so at GREmarketplace.com it is free or at GREmarketplace.com/florida. Jim, it's been great having you back on the show.   Jim Sheils  33:32 Thanks having me. Keith, good seeing you.   Keith Weinhold  33:39 Yeah, an excellent update on Florida build to rent properties. A lot of our listeners are asking about these new build properties with 3.75% mortgage interest rates, and you are not the majority participant in the rate buy down either. Next week, who I consider the foremost tax authority in the entire world will be back here with us. Tom Wheelwright is going to discuss presidential candidates, tax plans, whether you should be scared about a tax on unrealized gains and a lot more. Also on a future episode, I'm going to talk about the land that is the vacant land that comes along with your rental property, what to look out for and what to avoid. It's really a little discussed subject that we haven't talked about here before. To learn more about Florida, build to rent property with those attractive rate buydowns, start at GRE marketplace.com Until next week, every host, Keith Weinhold, Don't Quit Your Daydream.   34:45 Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have. Potential for profit or loss. The host is operating on behalf of Get Rich Education LLC, exclusively.   Keith Weinhold  35:13 The preceding program was brought to you by your home for wealth building. Getricheducation.com

Garrett Sutton is a corporate attorney and asset protection expert who has sold over a million books guiding entrepreneurs and investors. Some of his best-selling books include Start Your Own Corporation, Loopholes of Real Estate, and Veil Not Fail. For over 30 years, he has run a practice assisting clients in protecting their assets through his companies Corporate Direct and Sutton Law Center, which currently help over 14,000 clients maintain their entities. Garrett is also a Rich Dad Advisor for Robert Kiyosaki and is the President of Sunn Stream, a streaming platform focused on kids' financial education. Ted Sutton is Garrett's son and a licensed attorney. He has a B.S. in Mining Engineering from the University of Utah but decided to attend law school after realizing he was more interested in legal matters. Ted graduated from the University of Wyoming College of Law in 2022 and is licensed in Wyoming and Nevada. At law school, he served as the Student Director of the Business Entrepreneurship Practicum where he helped clients form and maintain LLCs. Ted now works at Corporate Direct focused on ensuring clients comply with the new Corporate Transparency Act. In addition to his legal work, Ted is also involved in financial education for kids. He is the author of the free ebook "Five Tricks To Teach Your Kids About Money'' available on the Sunn Stream website, the streaming platform his father founded focused on kids' financial literacy and professional development.   During the show we discuss: What Asset Protection is and Why It is Important How Asset Protection Differs from Wealth Management The Common Strategies Individuals Can Use to Protect Their Assets How Trusts Work in Asset Protection, and the Most Effective Types of Trusts What Role Insurance Plays in Asset Protection, and the Types of Insurance That Are Essential for a Comprehensive Asset Protection Plan How Business Owners Can Protect Their Personal Assets from Business Liabilities How You Can Protect Assets Intended to be Passed on to Heirs, and The Risks of Not Having a Solid Estate Plan in Place How You Can Prepare Your Asset Protection Plan for Unexpected Events like Natural Disasters, Medical Expenses, or Sudden Economic Downturns The Unique Challenges of Digital Asset Protection, and How Can Individuals Protect Their Digital Assets How You Can Protect Your Assets from Potential Lawsuits The Common Misconceptions About Asset Protection How Financial Advisors and Estate Planners Can Assist in Asset Protection, What to Look for When Hiring an Asset Protection Attorney How Often Should You Review and Update Your Asset Protection Plan,  The Triggers That Should Prompt a Re-evaluation of an Asset Protection Strategy What the Corporate Transparency Act is and What You Must Know   Show Resource/s: https://corporatedirect.com/ https://www.sunnstream.com/fivetricks

Learn more about the Small Business Corporate Transparency Act, where we reveal important truths about this legislation. Stay informed and understand the impact of this act on small businesses.GARRETT SUTTON has sold over a million books to guide entrepreneurs and investors. His best sellers include Start Your Own Corporation, Loopholes of Real Estate, and Veil Not Fail. For more than 30 years, he has run his practice assisting entrepreneurs and real estate investors in protecting their assets. The companies he founded, Corporate Direct and Sutton Law Center, currently help more than 14,000 clients protect their assets and maintain their entities, especially under the new Corporate Transparency Act.Garrett also serves as a member of the elite group of “Rich Dad Advisors,” for best-selling author Robert Kiyosaki. A number of the books Garrett Sutton has authored are part of the best-selling Rich Dad, Poor Dad wealth-building book series. Garrett is also the President of Sunn Stream, a new streaming platform focusing on kid's financial education and adult professional development. Garrett lives in Reno, Nevada has been recognized as a Lifetime Achievement Member by America's Top 100 Attorneys.TED SUTTON is a licensed attorney who is the son of Garrett Sutton. Ted was born and raised in Reno, NV. He graduated from the University of Utah with a B.S. in Mining Engineering. During one of his summers, he spent three months working at a mine in Chile. This experience made him realize that legal matters interested him more than engineering ones.After graduating in 2018, he decided to attend law school the following year. Ted attended the University of Wyoming College of Law. In his third year, he served as the Student Director of the Business Entrepreneurship Practicum, where he helped clients form and maintain LLCs. He graduated in May 2022. Ted is now licensed to practice law in Wyoming and Nevada. Ted has been focused on making sure Corporate Direct's clients properly file under the Corporate Transparency Act.Ted is also the author of “Five Tricks To Teach Your Kids About Money” which you can download for free at www.sunnstream.com/fivetricks. Learn more at: Sunn Stream Productions, Inc. & Corporate Direct, Inc.Website: https://corporatedirect.com/contact/ Contact Email: tedsutton@sutlaw.comLinkedIN: https://www.linkedin.com/company/corporate-direct-inc-/ Facebook: https://www.facebook.com/corporatedirectnv/ YouTube: https://www.youtube.com/@CorporateDirectInc "I recently ran across an article about the Corporate Transparency Act and was wondering what it actually meant. I noticed there wasn't a lot of buzz online about this. This interview with Garrett and Ted Sutton answered all of my questions. Thank you for shedding light on this important Act that effects all small businesses." IdaRemember to SUBSCRIBE so you don't miss "Information That You Can Use." Share Just Minding My Business with your family, friends, and colleagues. Engage with us by leaving a review or comment. https://g.page/r/CVKSq-IsFaY9EBM/review Your support keeps this podcast going and growing.Visit Just Minding My Business Media™ LLC at https://jmmbmediallc.com/ to learn how we can support you in getting more visibility on your products and services.

Be ready to learn how to protect your assets and wealth as we're joined by a father and son duo today, Ted and Garrett Sutton.Ted and Garrett discuss asset protection, setting up LLCs, its ideal structure for investors, and the rules everyone should follow under the Corporate Transparency Act. Listen ‘till the end of our conversation to know how to protect your investments for the long term!Key Points & Relevant TopicsWhat is asset protection and how it worksWhy Wyoming is considered a great place for asset protection and holding LLC How it works when someone has an LLC from a different stateThe Wyoming LLC privacy and anonymityThe ideal LLC structure for investors with multiple propertiesWhat is the Corporate Transparency Act and the purpose of this Federal lawReporting of information for an LLC with multiple investorsWhy understanding the rules under the Corporate Transparency Act is crucial for investorsResources & LinksGarrett Sutton's BooksDownload Ted's e-book “Five Tricks To Teach Your Kids About Money by visiting https://www.sunnstream.com/five-tricks. Apartment Syndication Due Diligence Checklist for Passive InvestorAbout Ted and Garrett SuttonGARRETT SUTTON has sold more than a million books to guide entrepreneurs and investors. His best sellers include Start Your Own Corporation, Loopholes of Real Estate, and Veil Not Fail. For more than 30 years, he has run his practice assisting entrepreneurs and real estate investors in protecting their assets. The companies he founded, Corporate Direct and Sutton Law Center, currently help more than 14,000 clients protect their assets and maintain their entities, especially under the new Corporate Transparency Act.  Garrett also serves as a member of the elite group of “Rich Dad Advisors” for best-selling author Robert Kiyosaki. A number of the books Garrett Sutton has authored are part of the best-selling Rich Dad, Poor Dad wealth-building book series.  TED SUTTON is a licensed attorney who is the son of Garrett Sutton. Ted was born and raised in Reno, NV. He graduated from the University of Utah with a B.S. in Mining Engineering. During one of his summers, he spent three months working at a mine in Chile. This experience made him realize that legal matters interested him more than engineering ones. After graduating in 2018, he decided to attend law school the following year.  Ted attended the University of Wyoming College of Law. In his third year, he served as the Student Director of the Business Entrepreneurship Practicum, where he helped clients form and maintain LLCs. He graduated in May 2022. Ted is now licensed to practice law in Wyoming and Nevada. Ted has been focused on making sure Corporate Direct's clients properly file under the Corporate Transparency Act. Get in Touch with Ted and Garrett Website: https://corporatedirect.com/ / https://sutlaw.com/ YouTube: Corporate DirectTo Connect With UsPlease visit our website www.bonavestcapital.com and click here to leave a rating and written review!

Join us as Garrett and Ted Sutton delve into the intricacies of asset protection and legal fortification. Garrett Sutton, a prolific author and seasoned attorney, has guided over a million entrepreneurs and investors through his best-selling books and practice. Ted Sutton, a licensed attorney following his father's example, brings a fresh perspective shaped by his engineering background and legal education.Together, they provide invaluable insights into safeguarding assets and navigating legal complexities. Join them as they share innovative strategies to build a legal fortress and protect your wealth for generations to come.Show Highlights:✅01:56 – Who are Garrett & Ted?✅08:01 – Tax benefits LLC myths✅15:48 – Corporate veil✅24:55 – Business team work✅31:32 – The 4 toppings✅35:26 – Final thoughts

GARRETT SUTTON has sold more than a million books to guide entrepreneurs and investors. His best sellers include Start Your Own Corporation, Loopholes of Real Estate, and Veil Not Fail. For more than 30 years, he has run his practice assisting entrepreneurs and real estate investors in protecting their assets. The companies he founded, Corporate Direct and Sutton Law Center, currently help more than 14,000 clients protect their assets and maintain their entities, especially under the new Corporate Transparency Act. Garrett also serves as a member of the elite group of “Rich Dad Advisors” for best selling author Robert Kiyosaki. A number of the books Garrett Sutton has authored are part of the best selling Rich Dad, Poor Dad wealth-building book series. Garrett is also the President of Sunn Stream, a new streaming platform focusing on kid's financial education and adult professional development. TED SUTTON is a licensed attorney who is the son of Garrett Sutton. Ted was born and raised in Reno, NV. He graduated from the University of Utah with a B.S. in Mining Engineering. During one of his summers, he spent three months working at a mine in Chile. This experience made him realize that legal matters interested him more than engineering ones. After graduating in 2018, he decided to attend law school the following year. Ted attended the University of Wyoming College of Law. In his third year, he served as the Student Director of the Business Entrepreneurship Practicum, where he helped clients form and maintain LLCs. He graduated in May 2022. Ted is now licensed to practice law in Wyoming and Nevada. Ted has been focused on making sure Corporate Direct's clients properly file under the Corporate Transparency Act. Ted is also the author of “Five Tricks To Teach Your Kids About Money” which you can download for free at www.sunnstream.com/fivetricks.

The Corporate Transparency Act (CTA) is a law in the business world that has grabbed people's attention. If you're curious about this act, this episode is for you! Join JD and Melissa as they speak with Garrett and Ted Sutton about the details of the CTA. Garrett and Ted Sutton, a father-and-son team, will give you the information you need to make smart choices for your business now and in the future! Stay tuned!   Here's what to expect on the podcast: What does The Corporate Transparency Act entail? The reasons behind the opposition of some business owners to The Corporate Transparency Act. How does this law impact businesses? Penalties for businesses that fail to adhere to the CTA and how to avoid them. And much more! About Garrett: Garrett Sutton has sold more than a million books to guide entrepreneurs and investors. His best sellers include Start Your Own Corporation, Loopholes of Real Estate, and Veil Not Fail. For more than 30 years, he has run his practice assisting entrepreneurs and real estate investors in protecting their assets. The companies he founded, Corporate Direct and Sutton Law Center, currently help more than 14,000 clients protect their assets and maintain their entities, especially under the new Corporate Transparency Act.   Garrett also serves as a member of the elite group of “Rich Dad Advisors” for best-selling author Robert Kiyosaki. A number of the books Garrett Sutton has authored are part of the best-selling Rich Dad, Poor Dad wealth-building book series.   Garrett is also the President of Sunn Stream, a new streaming platform focusing on kids' financial education and adult professional development.   Garrett lives in Reno, Nevada, and has been recognized as a Lifetime Achievement Member by America's Top 100 Attorneys.   About Ted: Ted Sutton is a licensed attorney and the son of Garrett Sutton. He was born and raised in Reno, NV. He graduated from the University of Utah with a B.S. in Mining Engineering. During one of his summers, he spent three months working at a mine in Chile. This experience made him realize that legal matters interested him more than engineering ones. After graduating in 2018, he decided to attend law school the following year.   Ted attended the University of Wyoming College of Law. In his third year, he served as the Student Director of the Business Entrepreneurship Practicum, where he helped clients form and maintain LLCs. He graduated in May 2022. Ted is now licensed to practice law in Wyoming and Nevada.   Ted has been focused on making sure Corporate Direct's clients properly file under the Corporate Transparency Act. Ted is also the author of “Five Tricks To Teach Your Kids About Money,” which you can download for free at www.sunnstream.com/fivetricks.   Connect with Garrett & Ted Sutton! Website: https://corporatedirect.com/ LinkedIn: https://www.linkedin.com/company/corporate-direct-inc-/about/ Facebook: https://www.facebook.com/corporatedirectnv/ YouTube: https://www.youtube.com/channel/UCT-pLv4_qmcTH-Xnu_uEyNQ   Connect with JD and Melissa! Website: https://therealestatejam.com/  Facebook: https://www.facebook.com/therealestatejam/  Instagram: https://www.instagram.com/therealestatejam/  YouTube: https://www.youtube.com/channel/UCa_CWAV1OvH81yp6fITB4lg Shorefront Investments: https://shorefront-investments.com/  Email: therealestatejam@gmail.com Are you interested in Coaching? Set up a Call with JD: https://mailchi.mp/458f1b418e9e/invest-with-jd.  

Discover the importance of corporate transparency with attorneys Garrett and Ted Sutton of Corporate Direct, Inc. Unpack the implications of the Corporate Transparency Act, a game-changer for over 30 million U.S. entities, including LLCs. Don't miss this essential episode for LLC owners and managers! Connect with Garrett Sutton on LinkedIn https://www.linkedin.com/in/garrettsutton/ Connect with Ted Sutton on LinkedIn https://www.linkedin.com/in/ted-sutton-esq-703493116/ Connect with Ben Fraser on LinkedIn https://www.linkedin.com/in/benwfraser/   Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors. Get started and download your free economic report today at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://aspenfunds.us/report⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Join the Investor Club to get early access to exclusive deals. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.aspenfunds.us/investorclub⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Subscribe on your favorite podcast app, so you never miss an episode. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.thebillionairepodcast.com/subscribe⁠⁠⁠

Want to protect your assets?In this episode of The Business Ownership Podcast I interviewed two guests. Garrett & Ted Sutton.Garrett Sutton has sold more than a million books to guide entrepreneurs and investors. His best sellers include Start Your Own Corporation, Loopholes of Real Estate, and Veil Not Fail. For more than 30 years, he has run his practice assisting entrepreneurs and real estate investors in protecting their assets. The companies he founded, Corporate Direct and Sutton Law Center, currently help more than 14,000 clients protect their assets and maintain their entities, especially under the new Corporate Transparency Act. Garrett also serves as a member of the elite group of “Rich Dad Advisors” for best selling author Robert Kiyosaki. A number of the books Garrett Sutton has authored are part of the best selling Rich Dad, Poor Dad wealth-building book series. Garrett is also the President of Sunn Stream, a new streaming platform focusing on kid's financial education and adult professional development. Garrett lives in Reno, Nevada has been recognized as a Lifetime Achievement Member by America's Top 100 Attorneys. Ted Sutton is a licensed attorney who is the son of Garrett Sutton. Ted was born and raised in Reno, NV. He graduated from the University of Utah with a B.S. in Mining Engineering. During one of his summers, he spent three months working at a mine in Chile. This experience made him realize that legal matters interested him more than engineering ones. After graduating in 2018, he decided to attend law school the following year. Ted attended the University of Wyoming College of Law. In his third year, he served as the Student Director of the Business Entrepreneurship Practicum, where he helped clients form and maintain LLCs. He graduated in May 2022. Ted is now licensed to practice law in Wyoming and Nevada. Ted has been focused on making sure Corporate Direct's clients properly file under the Corporate Transparency Act. Ted is also the author of “Five Tricks To Teach Your Kids About Money” .Learn how to protect your business and assets. Check this out!Show Links:Garrett Sutton LinkedIn: https://www.linkedin.com/in/garrettsutton/Free Book Five Tricks To Teach Your Kids About Money: https://www.sunnstream.com/fivetricksContact Corporate Direct: https://corporatedirect.com/contact/Corporate Direct YouTube Channel: https://www.youtube.com/@CorporateDirectIncBook a call with Michelle: https://www.AwarenessStrategies.com/m30Join our Facebook group for business owners to get help or help other business owners! The Business Ownership Group - Secrets to Scaling: https://www.facebook.com/groups/businessownershipsecretstoscalingLooking to scale your business? Get free gifts here to help you on your way: https://www.awarenessstrategies.com/Digital Adoption Roadmap: https://www.awarenessstrategies.com/digital-adoption-roadmap/

Garrett Sutton and Ted Sutton, Corporate Attorneys and Authors.The father and son law team discuss the Corporate Transparency Act, the new law that no one is talking about. Corporate Direct assists clients with asset protection. They discuss the new Corporate Transparency Act and why it's important...especially for small business owners nationwide.https://corporatedirect.com/Ted is also the author of"Five Tricks to Teach Your Kids About Money" which you can dowload for free at www.sunnstream.com/fivetricks

The program all about TV. Our first-hour guests: Trusted Media Brands senior vice president Jill Goldfarb, discussing People Are Awesome and the other channels in TMB's portfolio, and popular TV/technology commentator Shelly Palmer, previewing next week's CES 2024 gathering in Las Vegas. Our second-hour guests: Tahlaad Mahboeb, chief operating officer of new network Hip Hop TV, and Garrett Sutton, president of new programming venture Sunn Stream--joined by Branscombe and Fairai Richmond, producer and director respectively of Kangaroo Kids, Sunn Stream's first original made-for-TV movie.

Cash, and Jordan sit down with renowned asset protection attorneys Garrett and Ted Sutton. Together, they discuss the importance of legal entities like LLCs in safeguarding personal and business assets. They emphasize the need for proper entity setup and maintenance to prevent legal vulnerabilities and share insights on a new federal law affecting all U.S. businesses called the Corporate Transparency Act. Ted shines a light on the significant value of teaching kids about finances and how to go about doing so.  Guest Bio and Links: Garrett Sutton is a corporate attorney, asset protection expert, and best-selling author who has sold more than a million books to guide entrepreneurs and investors. Ted Sutton is a licensed attorney and the son of Garrett Sutton. Listeners can connect with Garrett and Ted at their website: https://corporatedirect.com/ or on YouTube @corporatedirectinc  Resources:  Create a free student account and start learning from The Millionaire Hairstylist: www.millionairehairstylistpodcast.com Rich Dad Poor Dad by: Robert Kiyosaki Learn More about the Corporate Transparency Act Books written by Garrett Sutton Show Notes:  [0:00] Introduction [1:30] Jordan introduces our guests, Garrett and Ted Sutton [2:10] Learn more at www.MillionaireHairstylistPodcast.com  [4:00] The journey to becoming asset protection attorneys [6:00] Veil Not Fail: Protecting Your Personal Assets from Business Attacks [6:55] Understanding corporate veils, LLCs, and asset protection for your company [11:45] Litigation risks for small business owners [13:00] State variations in LLC formations [15:30] Further your financial education at www.MillionaireHairstylistPodcast.com  [16:45] The Toxic Client: Knowing and Avoiding Problem Customers [20:30] Things in 2024 that business owners need to look out for [24:50] Corporate Transparency Act and what you need to know [30:30] Questions business owners should be asking asset attorneys  [32:35] The Five Tricks to Teach Your Kids About Money - COMING SOON! [39:40] The corporate formalities

Congress recently passed the Corporate Transparency Act (CTA) as part of the National Defense Authorization Act to enhance national security, intelligence, and law enforcement efforts against money laundering, terrorism financing, and illicit activities. It does so by establishing a national registry of beneficial ownership details for "reporting companies." Although the CTA largely applies to foreign-owned shell companies, domestic companies should review the definition of a "reporting company" to confirm whether they qualify for any exceptions. Today, father-and-son duo Garrett Sutton and Ted Sutton give golden nuggets on this new law that nobody seems to be talking about. Garrett is a corporate attorney, asset protection expert, and bestselling author, while his son, Ted, is a licensed attorney. Tune in to understand the CTA better and save your company from unnecessary penalties.Love the show? Subscribe, rate, review, and share! https://www.seilertucker.com/podcast

Tune In ON DEMAND Worldwide to this Baldwinsville Bees Boys Lacrosse Back-2-Back STATE CHAMPIONS Special from Pizza Man Pub featuring Garrett Sutton, who's heading to St. John Fisher, & Nick Cary, who's heading to LeMoyne, w/ Dan Tortora (DT)... Stay close to "WakeUpCall" on Facebook, Twitter, & Instagram! Listen LIVE to "Wake Up Call with Dan Tortora" MON through FRI, 9-11amET on wakeupcalldt.podbean.com & on the homepage of WakeUpCallDT.com from ANY Device! You can also Watch LIVE MON through FRI, 9-11amET on youtube.com/wakeupcalldt, facebook.com/wakeupcalldt, & facebook.com/LiveNowDT. This special is Proudly Presented EXCLUSIVELY by Pizza Man Pub... Head to 50 Oswego St, Baldwinsville, NY, for dinner during operating hours all week long! For takeout or delivery, Call 315- 638-1234

Do you struggle with running your family finances because you have no idea how to maintain and perpetuate your wealth long-term? Do you feel a little worried about your family's financial stability? In today's episode, I share the ways to handle your family finances and how you can truly run it like a family business! If you're tired of distressing yourself about your present and future finances, make sure you listen to this episode!   Join my free upcoming Masterclass all about how to consistently get clients: https://bit.ly/3TFp7sg   Want my help to grow your business? Book a free strategy session now: https://bit.ly/3K2EvuH   Need to build your brand from scratch? Click here to apply to my new program: https://bit.ly/3lFgEsI   Mentioned in this episode: The Cartiers: The Untold Story of the Family Behind the Jewelry Empire by Francesca Cartier Brickell: https://amzn.to/3LuJWF3 Vanderbilt Book: A Brief History of the Vanderbilt Family: From Cornelius Vanderbilt to Anderson Cooper by University Press: https://amzn.to/42fY62I Tax-Free Wealth by Tom Wheelwright: https://amzn.to/3ZQz0pl Start Your Own Corporation by Garrett Sutton by Garrett Sutton: https://amzn.to/3yBPwxH     Related Episodes: 154 How to Create Continuous Progress in Your Life: iTunes: https://podcasts.apple.com/us/podcast/154-how-to-create-continuous-progress-in-your-life/id1264659520?i=1000593008141 Spotify: https://open.spotify.com/episode/4Y27NqMuLUY0Fl6wUP9Sk3?si=afa1b82ad2c74be0   155 Introducing the CEO Series - The Truth About Growing a Business: iTunes: https://podcasts.apple.com/us/podcast/155-introducing-the-ceo-series-the-truth-about/id1264659520?i=1000595233313 Spotify: https://open.spotify.com/episode/1lvCCJ31DNVCkXCZXJ6KAe?si=83989a4d942a4c34     Want to know the system I used to rapidly grow my business and quit my job? Find out more here: http://courtneylsanders.com/masterclass     Follow me on Instagram! https://www.instagram.com/courtneylsanders/

Garrett Sutton is an attorney and the founder of Corporate Direct, which helps entrepreneurs and investors protect their assets, maintain privacy, and reach their financial goals. He's also a best-selling author and one of Robert Kiyosaki's Rich Dad Advisors. In this episode, Garrett discusses LLCs — why real estate investors need them, how and why they vary from state to state, and the benefits of having your LLC taxed as an S-corp. He also compares CRE investing to a new market into which he's delving: movies. Garrett Sutton | Real Estate Background Attorney and founder of Corporate Direct, which helps entrepreneurs and investors protect their assets, maintain privacy, and reach their financial goals. Best-selling author and one of Robert Kiyosaki's Rich Dad Advisors.  Previous episode: JF964: Do You Know About these LEGAL LOOPHOLES of Real Estate? Based in: Reno, NV Say hi to him at:  corporatedirect.com Best Ever Book: Rich Dad Poor Dad, by Robert Kiyosaki; Veil Not Fail, by Garrett Sutton, Esq. Greatest Lesson: Start early, learn from your mistakes, and keep going. Don't let the fear of making a mistake keep you from moving forward.   Click here to know more about our sponsors: MFIN CON

The two most common mistakes I've seen people make in personal finance is to not think about asset protection and to not think about estate planning. Not thinking about estate planning is sort of understandable. Death is a topic that many try to avoid. Some are even superstitious in that if they set up an […] The post 356: Getting Your Assets in Gear with Garrett Sutton appeared first on Wealth Formula.

Learn the beginner's mistakes to avoid. Is setting up a real estate LLC even worth it? Learn how to build the right credit score for a mortgage loan, including why you actually don't want a score over 800. If a cash flowing property is so great, why would anyone sell it to you? I outline a myriad of reasons. Should you make a lowball offer to a real estate seller? Learn negotiation techniques. Earnest money procedures are covered. The real estate buying process is slow. From the time that you make the offer, it can often take over 30 days to close the deal. Once your offer is accepted, I recommend a professional third party inspection. It can cost you $300 to $500 for a single-family income property up to $1,000 for a fourplex inspection. I cover property appraisals and how they verify the quality of the bank's collateral. Learn how to get a good feel for your property manager and what their duties are.  I discuss the Management Agreement between you and your manager. Be sure to tell your insurance provider that this is a rental property, not your primary residence. A mobile notary meets you at your home, workplace, airport, or even a restaurant in order to complete the paper-and-ink closing process. This wraps up the deal. Get started with income property at: GREmarketplace.com. For free coaching to help get you started, contact our free Investment Coach, Naresh, at: GREmarketplace.com/Coach Resources mentioned: Show Notes: www.GetRichEducation.com/433 Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Analyze your RE portfolio at (use code “GRE” for 10% off): MyPropertyStats.com  Memphis property that cash flows from Day 1: www.MidSouthHomeBuyers.com I'd be grateful if you search “how to leave an Apple Podcasts review” and do this for the show. Top Properties & Providers: GREmarketplace.com Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Welcome to GRE! I'm your host Keith Weinhold, here to help BEGINNING Real Estate Investors Today.    The biggest beginner mistakes to avoid, when you make an offer - can you lowball a turnkey provider, and all those buyer steps like LLCs, mortgage pre-approval, inspection, appraisal, and closing. Today, on Get Rich Education. _____________________   Welcome to GRE. From Athens, Greece to Athens, Georgia and across 188 nations worldwide. The voice of REI since 2014.    This is Get Rich Education Podcast episode 433 - and this is your Beginner's Real Estate Investing Audio Guide. Hi, I'm your host Keith Weinhold.   We're talking about how to get into long-term buy & hold RE investing - and that's because it's the most generationally-proven way to build wealth.   First, let's talk about a couple of the biggest mistakes that real estate investors make - it's being invested in only one geographic market. Often, that's the market that they just happen to live in.    There is more risk with being in only one market than most realize, because you're now tied to the fortunes or misfortunes of just one area's economy.   Another substantial, common real estate investor mistake is that they continue to hold onto one - I'll call it - special - property in their portfolio that they usually need to get rid of - but they have either sentimental ties to it - or they just hold onto it for convenience, and do you know what that property is?   I'm actually talking about a specific property here.   It's the home that YOU YOU USED TO LIVE IN yourself. Well, what's wrong with renting out the home that you used to live in yourself?    You might still have the preferable owner-occupied financing locked in on that one - and afterall, that's a better rate than you could get on a non-owner-occupied rental.   The problem is that the property probably doesn't perform BEST as a rental.   But you might be clearing, say $600 per month by using your former primary residence as a rental today.    Look, for you, it's often about the cash flow - and yes, it is about the cash flow.    But there's something even more important than cash flow - that's because nearly any property will cash flow if the loan were paid off.   That's why it's really more specifically about the rent-to-price ratio of a property.   If you're renting out the home that you used to live in, and it wasn't strategically bought as a rental, if your rent-to-price ratio is 0.4%, meaning that for every $100K in value it has, you're only getting $400 of monthly rent income, then you're losing cash flow dollars every year - and every month.   Look, let's give a real life example of the .4% RV ratio. Say that you can get $2,000 rent out of that $500K property that you used to live in.    But instead, three $150K homes bought strategically as rentals can have a combined rent income of $3,000.    So it's either one $500K property at $2,000 of rent income. Or three $150K properties at $3,000 of rent income.    So you're losing $1,000 dollars of cash flow every month - by not buying and owning strategically in markets in the Midwest and South where the properties make sense as a RENTAL on the day that you buy it.   Your primary residence only made sense as a primary residence on the day that you bought it.    Now you can see that the only reason that you still own it, is because you defaulted and “fell” into it. Don't fall into things. Often, you want to be intentional.    You are a better investor when you're intentional rather than emotional.   It's even better for you now. Beyond your $1,000 of additional cash flow with some repositioning, now, with three properties instead of one - now you've also taken care of the first real estate investor mistake that I mentioned.   WITH three rentals rather than one, now you can be diversified across multiple markets.   Two birds are killed with one stone. Now with some re-positioning, you've increased your cash flow by $1,000, AND you're in multiple markets. One property isn't divisible.   And this $1,000 of monthly cash flow example is small. Of course, the differences can be greater than this.   We're talking about real estate investing for beginners today, so let me clearly guide you through step-by-step on just how you go about buying your first property - writing an offer, getting an independent third-party property inspection and vetting your Property Manager which is known as due diligence, then the appraisal, and onto closing and receiving cash flow from the tenant.   As you'll see, much of today's show pertains to any investment property at all.   But we're talking mostly about how to buy what are known as turnkey homes, especially homes outside your home market - as most of the best deals are not found where you live.   Turnkey means three basic things. #1- You buy a property that's either brand new construction or fully renovated. #2- A tenant is placed for you - and you get to approve them. And #3- the property is held under management for you from Day 1 - if you so choose.   Like they say, the best investors live where they want to live, invest where the numbers make sense.   Today's content is primarily geared toward United States real estate investors - but those that live outside the United States will benefit here too. You might want to buy a property in the US.   Here's a question that you might have - “How do I go about setting up an LLC - a Limited Liability Company - to hold my investment property in?”   I'll tell you - I don't think “How do I set up an LLC?” is the best question to ask.   The best question to ask is, “Should I set up an LLC?”    The three main reasons people set up an LLC are for either anonymity, tax purposes, or asset protection.   Now, if you know that you WANT to set up an LLC - I've done four episodes on that topic with Rich Dad Legal Advisor Garrett Sutton.   You can go to GetRichEducation.com, type “Garrett Sutton” in the search bar, and those four episode numbers will appear so that you can listen. He was just on the show with us 9 weeks ago on Episode 424.   But the reason that the question is, “Should I even SET up an LLC?” is because:   Setup of LLCs complicates your life. Maintaining a registered agent, Articles Of Incorporation, having separate accounts, tracking expenses with separate credit cards, paying annual fees for everything - depending on how many LLCs you have and how you structure your life - it can wear you out.   The second reason you should ask yourself, “Should I even set up an LLC?” is because you might not have many assets for a litigant to go after. Retirement accounts have certain protections already. Equity in a property could be low-hanging fruit for a plaintiff attorney if someone gets a judgment against you. But since the Return From Equity is always zero, what would you have much equity in a property anyway?   The third reason you should ask yourself, “Why should I even set up an LLC?” is that frivolous or slip-and-fall type of lawsuits are rare. Not only have I never been a party to one, I've never even heard of any investor friend or associate having one - and I talk to a lot of people. You probably haven't heard of one either.   Now, note that I'm not saying you can't get an LLC or shouldn't get one. I'm saying, prioritize those questions to yourself.   First, it's “Should I get one?”. If that's a definitive “yes”, only THEN ask: “How do I set one up?”   Why do you think you have to? Did some attorney use fear tactics to get you to?   If the result of the LLC's administrative overburden provides a greater reward in the form of asset protection, anonymity, or tax benefit - which is typically a flow-through taxation type anyway, you might then … get an LLC.   So, as a beginning real estate investor, understand that real estate is a credit-based asset - meaning it's usually bought with a loan.   So let's talk about getting your finances in order before you contact a lender or select an income property.   That begins with you having enough cash liquidated for a 20% down payment on the property - add about 4% for closing costs, depending on the state that you're buying your property in - and on the lowest-priced property that's still in a decent area of a low-cost city - which might be a $100,000 property …   24% of that then is about $24,000 that you'll need. You should have some extra on top of that as reserves.    Now, let's look at another part of your finances - your DTI - your debt-to-income ratio. It cannot exceed 43% to 45% - maybe up to 50% in some circumstances.    So if your monthly minimum debt payments - everywhere in your life - housing payment, minimum credit card payments, minimum car payment - if that sum is $5,000 and your gross monthly income is $10,000 - that's a 50% DTI. You can't exceed that.   Of course, before a bank is willing to loan you money, they want to have a reasonable assurance that you aren't weighed down with debt elsewhere because their fear factor goes up that they won't get paid back.   Next, let's talk about your credit score. We dedicated an entire episode to this back in Episode 54. If you can remember back that far, Philip Tirone was here with us and you learned more about credit scores that you probably ever thought you would …   … and he even went on to call the credit scoring system a total scam. He was quite opinionated - it was interesting and eye-opening, but ...   Playing within the scam here - as it might be.    There are many different credit scoring models, but the FICO Score - F-I-C-O - is a respected one that you're probably going to see your mortgage lender use.   It stands for Fair Isaac Company.   Their credit scoring range is 300 - the worst, up to 850. 850 is essentially a perfect score.   Importantly, 740 is the highest score that helps you here.    If you have a 782 or an 836, it doesn't help you qualify for the loan or get you a lower mortgage interest rate or anything else.    740 is where you're optimized.   Now, just a quick overview of FICO credit scoring ...   There are five primary ingredients that make up your credit score. In order of importance, they are your payment history, amounts owed, length of your credit history, new credit, and finally credit mix.  That first one, Payment History, is the most heavily weighted one. It's 35% of your score. As you might expect, the repayment of past debt is a major factor in the calculation of credit scores. It helps determine your future long-term payment behavior. Both revolving credit (i.e. credit cards) and installment loans (i.e. mortgage) are included in payment history calculations.  Although installment loans like mortgages take a bit more precedence over revolving credit - like credit cards.  This is why one of the best ways to improve or maintain a good score is to make consistent, on-time payments. The next way, your Amounts Owed – 30% This category is basically credit utilization or the percentage of available credit being used - or borrowed against. Credit score formulas “see” borrowers who constantly reach or exceed their credit limit as a potential risk. That is why it's a good idea to keep low credit card balances and not overextend your credit utilization ratio. So if you've got just a $1,000 balance on a credit card with a $10,000 credit limit, that's seen as a good ratio. You're staying well within your limits then.  The third FICO credit score ingredient is the Length of your Credit History – 15% This factor is based on the length of time all credit accounts have been open. It also includes the timeframe since an account's most recent transaction.  Newer credit users could have a more difficult time achieving a high score than those who have a long credit history. That's because if you have a longer credit history, FICO has more data on which to base their payment history. The fourth of five FICO ingredients is your “Credit Mix” – Now we're down to an ingredient only comprising 10% of your score. Credit mix just means that it helps your score if you have a combination of credit cards, retail accounts, installment loans, finance company accounts and mortgage loans.  Finally, “New Credit” makes up the last 10% of your FICO score. Don't open too many new credit accounts in a short period of time. That signifies a greater risk to lenders – and that's especially true for you if you're a borrower with a short credit history.  And you sure don't want to open up any new lines of credit, down the road when you're in the qualification process for buying a new property unless you check with your Mortgage Loan officer first. Now, those five factors have been weighted the same for quite a few years.  Knowing what factors make up your FICO® Credit Score can help you qualify for more loans and get better mortgage interest rates. That's the bottom line. This helps you get pre-qualifed or pre-approved with your Mortgage Lender. To get prequalified, you just need to provide some financial information to your mortgage lender, such as your income and the amount of savings and investments you have. Your lender will review this information and tell you how much they can lend you.    After pre-qualification, you can seek the higher-level status and that is getting pre-APPROVAL for credit. Pre-approval is better than pre-qualification.   If you think about it, it makes sense. Qualifying for anything in life is not as good as getting approved for something - I suppose.   Pre-approval involves providing your more detailed financial documents - like W-2 statements, paycheck stubs, bank account statements, and your previous two years tax returns. This way, your lender can VERIFY your financial status and credit.   Now that you're pre-approved with a lender, you can focus on the market and property that you're interested in.   RidgeLendingGroup.com is the mortgage lender that we recommend most often because they SPECIALIZE in income property. They don't have any seasoning requirements.   Seasoning means that the person selling YOU the property needs to have held onto it for a certain length of time - or the lender won't finance the property for you.   While you're in the pre-approval process, you can be learning about a cash-flowing investment market.    You want to pick a geographic metro market that typically has low-cost properties, and high rent incomes in proportion to those low costs.    In fact, the market is more important than the property. Because your income comes from your tenant, and your tenant's income comes from a job.   So you typically don't want to own much property in a town with 12,000 people that's in an outlying area - not part of a greater metro - where 1/3rd of the employment is tied to one tungsten factory or even one semiconductor manufacturer.   Because now, too much of your income stream is tied to just one industry.   If the tungsten industry goes down, so goes your tenant base.   You also don't want to buy slummy property. Those tenants often don't pay the rent. You also don't want to buy much above an area's median-priced home, because the numbers don't work out.   So you want that working class housing that's just below the median price point for the area.   If you're not already confident about that and familiar with the right provider ...    We have information on the right market, with the right provider, with properties - and they're typically in the MidWest and South - at GREmarketplace.com   So read a market report there. That's good, pointed information.   Most investors are interested in a property for the production of cash flow. That's the margin by which your monthly rent income exceeds all monthly expenses.   Rent income minus expenses should be a positive number.   So that's your monthly rent minus VIMTUM. V-I-M-T-U-M.    Vacancy, Insurance, Maintenance, Taxes, Utilities, and Management.   I like easy ways to remember things and VIMTUM is an easy way to remember.   So, you're listening to the Beginner's Real Estate Investing Audio Guide here as a regular episode of the GRE Podcast.   If you're not a beginner & you're still listening, it's either a good review and you might even be learning some new things along the way yourself.    Including, should you ever lowball a turnkey provider and a negotiation approach that I have for that - in a few minutes.    But first, one reasonable beginner question is ...     “Now why would someone would want to sell me a cash-flowing property in the first place?    Why would someone - like a turnkey provider - why would they sell me a good thing that pays them every month that they could continue to hold onto for cash flow?   If a property pays someone every month while they hold onto it - why in the heck would they sell it to me?   OK, some seller out there has a golden goose that lays a golden egg every month, so why in the world would they give me an opportunity to buy the goose?   Well, there are just so many reasons for selling cash-flowing property - yes, a ton of reasons for selling even a young, healthy goose that lays golden eggs every month & is expected to so for years.   Well, a turnkey provider runs out of money too. They can't buy all the properties themselves.    They'd prefer a lump sum payout when they sell this property, because their business model is to go pay all cash for another distressed property that they can fix up.   And if you think that they snatched up the good ones themselves a while ago - yeah, they probably did do some of that.   In fact - I WANT them to have snatched up some good properties from their own market earlier. It shows me that they believe in what they sell. If they didn't buy what they were selling themselves, I'd actually be MORE concerned.   Now, other reasons that the - I guess general public seller might want to sell you a property is ...   One reason is moving. Say that a family in City A owns a few mom-and-pop rental homes that they self-manage and they're moving to City B in another state, they'll often sell their income properties.   Some people want to self-manage their property (often because they never explored their best-and-highest use, but anyway) & if they have to move to City B, they'll sell the property rather than try to find a Property Manager in City A.    Another reason people sell cash-flowing property is that - even if someone is not moving, that person might be tired of the self-management hassle - but yet they don't try professional management - because that person has the DIYer mentality - that soooo common do-it-yourself mindset.   OK, most people just don't take a strategic approach to real estate investing like you are by listening to this.   Other reasons for people selling cash-flowing property are death, marriage, divorce, and all kinds of either joyous or tragic life milestones.   If a husband-and-wife own rental properties but running & managing them was kind of the husband's thing & the husband dies … the wife doesn't know how to run the properties & she's likely to sell rather than hire a Property Manager.   People may sell their cash-flowing property in case of all kinds of emergencies - medical and otherwise - because they may need a quick lump of cash - instead of the steady stream of cash flow over time that just won't work for them in their new situation.   OK, most of those situations involve some sort of external life change for property sellers - a lot of them tragic.   Well - here's a personal one for you...    A few years ago, I sold two cash-flowing apartment buildings at the same time - well, those sales actually closed on consecutive days - so nearly the same time.   Both of those cash-flowing apartment buildings that I sold were 100% occupied with tenants, I had competent management in place, and there were no deferred maintenance issues with the buildings.   You want to know my reason for selling two nice golden apartment gooses that were seasoned and steadily laying some nice golden eggs?   OK...can you guess why?   Alright, fortunately I didn't have any distress or emergency in my life.   ...oh, and also, I wanted to sell them fast too, I couldn't let these two cash-flowing apartment buildings linger on the market for a while. I really wanted to get rid of them.   I had no distress like those situations I mentioned earlier.   So can you guess why I wanted to sell these long-producing golden gooses in a good job growth market that produced nice cash flow, nice golden eggs?   I'll tell you why.   That's because I knew I could 1031 Exchange those two gooses for two even larger gooses. Now I won't get into the 1031 here on a beginner episode.    But I replaced the two smaller apartment buildings with two larger apartment buildings that would produce even larger eggs if I did it with a quick timeline - and I could defer any tax on my profitable gain.    I found - I guess - two very fertile egg producers that were going to produce even more cash flow over time.   So...I think you get the message here. To the buyers of my smaller apartment buildings, I appeared as a very motivated seller of cash-flowing property, even though I had no external stress in my life.    It was due to internal reasons that I wanted to sell...and it's the internal drive to expand my income.    No shrinking thinking here at Get Rich Education. We are growing our means.   Now, when you've found a cash-flowing property that you want to buy, should you make a lowball offer to a turnkey provider? My definition of lowball here, is, a 10% discount.    We'll say, that a provider is offering a property for $120,000 - then you'd make the offer for 10% less, which is $108,000. That's a lowball.   My answer is ...    No. That's not going to work. In almost every instance, that's too much of a discount and it's going to eat their margin too much.    Depending on how it's presented, a seller might even be less motivated to work with you if they get a lowball offer.    This company has a business to run and with a turnkey property, you're typically paying for the convenience. You leveraged their systems of them delivering this product to you that's already renovated, rehabilitated, tenanted, and under management.    Now, can you can knock off $1K-$2K? And say, offer the seller then - $118K or $119K for the $120,000 property. Yeah, that might work.    It sure wouldn't be deemed some unreasonable request. But it's good to at least provide a reason - some rationale - in asking for the discount.   Let me give you some perspective on this negotiation too.    For every $1,000 less in a mortgage loan that you take out, how much do you think that saves you in a monthly payment? Did you ever figure out how much that saves you?   Well, at a 5% interest rate on a 30-year loan, reducing your mortgage loan amount by $1,000 saves you … $5. Five bucks in a reduced payment.   For more perspective, keep in mind too, that once the seller accepts your offer - it's only the first part of the negotiation.   Later, it's a negotiation with the inspection. We'll discuss how to navigate THAT shortly.   I'm Keith Weinhold. You're listening to the Audio Beginner's Guide to Real Estate Investing, here on Get Rich Education. ________________ ***AD RESOURCES***    ________________ Welcome back to GRE Podcast 433. This is your Audio Beginner's Guide to Real Estate Investing. I'm your host, Keith Weinhold and we're talking about buying an income-producing property, especially…   …a TURNKEY property - which just means that it's already renovated, tenanted, and under management with a tenant on the day that you buy it.    Now, once your offer is accepted by the seller, I want to give you - really just a brief outline of what to expect next.    This isn't intended to give you every step in exhaustive detail, but this is generally what comes next for United States real estate purchases, and custom varies somewhat from state-to-state.   So with that in mind, once the turnkey provider or seller accepts your purchase offer...   You need to send in your earnest money. Earnest money is not the down payment. It's a smaller amount that shows good faith that you're serious about your offer.    It's often an amount of $5,000 or less and it shows the seller that you're serious enough about buying the property that the seller has the confidence to take their property OFF the market and not show it to anyone else.   The seller should give you instructions on how to place your Earnest Money.    Now remember, your earnest money deposit is not going directly TO the seller, it is going to a third-party escrow account, and it is refundable to you in accordance with the terms of the contract that you signed.   Your contract should have an estimated closing date in there. I want to emphasize that the key word there is “estimated”.    While it is important that all parties work towards closing by this date, between you and me - let's just be realistic - the reality is that many transactions get delayed beyond the closing date in the contract for a variety of reasons on the seller side, sometimes having to do with construction or renovation delays.    If this happens, it is nothing to be worried about, just remain in touch with the seller and you can simply sign a contract extension if needed when the time comes.   As you are financing your property, be sure to keep getting your lender anything that they ask you for up so that they can keep processing your loan.    As your closing gets near, they will probably ask you for some updated information and have some final stipulations from the underwriter, so just remain in close touch with your lender and try to provide them what they need as swiftly as you can.   During most of this time where you're under contract & even before you're in-contract to buy the property, most of your relationship with your lender and seller is just sitting around, waiting for the next stage.    Some days, frankly you're thinking, “When will they reply to my e-mail?” OK, sometimes, RE moves slower than glaciers.   Once construction/renovation is completed on your property, I suggest that you order a professional third-party home inspection before closing.    As the buyer, this is at your expense, but the home inspection is cheap insurance for you and it is an important part of your due diligence. It might cost you about $300-$500 for a single-family turnkey income property.   A four-plex inspection might cost up toward $800 or $1,000.   When seeking an inspector - seek ASHI certification - that is American Society of Home Inspectors.   You're looking for an inspector with a good reputation, licensed and bonded. It is good to look for a level of experience as well. The choice is really yours as the Buyer.   Your inspector points out deficiencies in what I'll break into a few categories.    #1 is Major concerns – these are significantly defective, safety issues that require immediate repair. Often times, those things absolutely MUST be done in order for your lender to even finance the property so the seller is going to do those things for you. That might be something like adding a railing to a porch.   The second category are recommended repairs – So they're recommended but not required. That might be adding some extra insulation in the attic.    The third category is “well, it would be NICE if it were done” - like a kitchen cabinet door that's a little loose and doesn't close snugly.   When you get your home inspection report back because the inspector has compiled their findings, the key to remember is that the inspector will ALWAYS return a (usually long) list of items that they recommend be corrected prior to closing.    Now, this even happens on new construction, so expect some findings.   I swear, even on a perfect, unblemished home it seems like the inspector would say that the bushes have to be trimmed or something. Ha!   And remember, you are not closing on the property in the condition it was inspected. Rather, the inspection is just part of the process on the path to getting the property up to its final condition.    Then you and the seller agree on what will be fixed (at the SELLER'S expense (not your expense), and verified to your satisfaction), prior to closing.    The seller is anticipating that they will need to make some final repairs (at their own expense) after they get the inspection repair request from you - that your inspector just compiled for you. This is all part of the normal process.   Of course, you can get in a car or hop on a plane and visit the turnkey property yourself and walk the property with your inspector, but I'd say fewer than 10% of turnkey buyers do this. I have never done this on an out-of-state property.   But going to see the property in person is never a BAD idea.   Today, it's easier than ever for an inspector or provider to e-mail you a property video. The report that you get from your Home Inspector after he visited the home will have lots of photos and details.   Typically, purchase offers are contingent on a home inspection of the property to check for signs of structural damage or things that may need fixing.  This contingency protects you by giving you a chance to renegotiate your offer or withdraw it without penalty if the inspection reveals significant material damage. You are protected. Once the seller makes any needed repairs that the third-party inspector found, I suggest having a re-inspection done by that same inspector. This gives you the chance to confirm that any agreed-upon repairs have indeed been made. You might spend another $100+ on this re-inspection. Now, if the original inspection showed that a leaky faucet needed to be replaced, and the seller said they'd do it, and the re-inspection finds that that work wasn't done as promised, then any FURTHER re-inspection costs are often a cost borne by the seller. Which seems pretty fair - they said they'd do work - and the re-inspection that you paid for confirmed that it hadn't been done in this case. Now, back to the negotiation. If you asked for a reduced Purchase Price, that could lean away from you asking for too much in the inspection.   How do I like to play it? Often times, I make a full price offer for the property - and I might even let the seller know at that time that I'd like to give you your price - it's a full $120,000 in this case - and since you got your price, I'd like my terms.   My terms are - that I'm more bold in what I request the seller to do from the inspection findings.  Maybe I will ask them to add that extra insulation in the attic as one of those “Recommended buy not Required For Financing” items - or replace a window pane that had condensation inside it.   Then, what's my justification for asking the seller for that. It's that I'm paying your full price. Again, financing an extra $1,000 only costs me $5 per month.   Now, let's talk about the property appraisal.    The appraisal is a tool that the bank uses to verify the quality of their collateral.    Because in your loan paperwork, at closing, the bank will basically tell you that if you don't make your monthly payments, you'll be foreclosed upon and the bank will take back the property - that's their collateral.   So they want to make sure that the property seems to be worth as much or more than you're in contract for - this $120,000 in our example.   Your lender is the one that orders the property appraisal, not you. In about 90% of U.S. states, you as the buyer pay for the appraisal. It costs about $500.    The appraiser is a member of a third-party company and is not directly associated with the lender. It wasn't always that way.    In fact, one factor that led to the housing downturn of 2007 in the Great Recession is that some lenders & appraisers were “in cahoots”. Haha! That can't happen anymore.    BTW, the appraisal and some of these other steps are all part of your closing costs. All part of that … about 4% of the property purchase price.   The appraisal is typically done by a certified appraiser physically visiting the home - and these people always seemingly have a tape measure with them.   The appraiser checks out the premises and their job is to use market comparables to make sure that the lender has adequate collateral in case you, the borrower, default.   OK, the bank doesn't want to lend out more than the property is worth or else they could find themselves underwater if the borrower defaults. The appraisal protects against this.   And don't confuse this appraisal with an assessment. An assessment is something that a county or municipality uses the measure the amount of property taxes that are paid. It's really unrelated to this appraisal.   One interesting thing that's related to the appraisal and the bank giving you the loan for 80% of the property is that the lender NEVER requires that you see the property in person.   Think about what that means. The bank never requires you to see the property in-person, yet they're willing to loan you up to 80% of the value.   Even the bank knows that it's not important for you to personally see the property - something that they're willing to put their money behind.   Now, when it comes to finding properties and markets and teams, our listeners & followers encouraged us to set up a marketplace for them for finding the properties.   We've done that for you at GREmarketplace.com. And knowing that Property Management is the glue that makes your property stick together, we - and it's Aundrea here at GRE that does it - where you find your properties at GRE Marketplace, Aundrea also interviews the property manage in each market for you so that you can get a good feel and vibe about them.   Most any provider is happy to do a PM Zoom chat or phone call with you too.   Now, just because a property is branded “turnkey” by a company, doesn't mean that you can dismiss doing your due diligence. Turnkey can be a great system, but there's nothing magical about that word alone.   Don't overlook developing a good feeling about your Property Manager, because this is the one long-term relationship that you expect to have. I just can't emphasize that enough. Your Manager is one of your key team members.   They'll tell you the character of the current tenant that's currently in the home. Find out how the manager is going to pay you. Feel them out, know what your communication flow is going to be like.    If they're part of the same turnkey company, a good manager should also connect you with whoever renovated your turnkey property in case you have some questions for them.   Now, notice that I haven't mentioned a real estate agent. Most turnkey providers work in a direct model so that you don't have to go through agents. That's one way that GRE Marketplace providers keep the price down for you.   You must sign a written Management Agreement with your Property Manager.    What the MA does is that it gives the manager the authority to manage your property for you, manage tenant relations for you, the MA will state their fees, and you'll have your contact information in that agreement.   There are typically two fees - a leasing fee and a management fee.   A leasing fee is where you'll spend ½ month's rent to one month's rent amount when the Manager screens a new tenant. So hopefully that only happens every 1 or 2 or even 5 years if you're lucky.    Yes, you can typically approve or reject their selected prospective tenant. You are going to be the owner of the property afterall.   A management fee is often 8-10% of one month's rent income - and that's what you pay monthly - ongoing.   You can sign a Management Agreement with the property provider if they have management integrated in-house. If not, you can lean on your provider for some management recommendations.   Now, there's one blank to fill in on your Management Agreement - it's a dollar amount up to which the manager can pay for expenses that come up - against your account - without contacting you.    For example, if the number $500 is written in there, that means that if a maintenance or repair expense on your property exceeds $500, they must contact you prior to incurring that expense.   You get to choose that dollar limit. As a beginning real estate investor, go with a lower figure.    Then as you get comfortable or you don't want to be bothered about the property as much, you can increase that dollar limit in which they need to contract you about approving maintenance or repairs.   Basically, if there's something that has to do with the property & you don't want to deal with it, then make sure it's written in the Management Agreement that the manager will perform it.   Typically, it's going to say that the manager will collect rent, handle tenant relations, respond to repair requests, send you the rent, keep your ledger of income & expenses on the property, post legal notices if a tenant is paying the rent late, and sooo many other associated duties that I personally don't want to deal with.    Hey, I just want to live my life & keep this investment nearly passive.   Get that Management Agreement done - fully executed - signed by both you & the Manager BEFORE you close on the property.    Before you close, you can buy property insurance from any provider you choose.    Your turnkey provider is often happy to recommend some providers that their other clients have used in this market, or you can just Google and find your own.    Be sure to let the insurance provider know that this is a rental property (not a primary residence where you live and not a second home).    Most turnkey buyers purchase both hazard and liability insurance as part of their policy. Like any other insurance policy, you will have choices about deductibles & monthly payments, and coverage amounts.    If you are financing your property, your lender will most likely be able to combine your property taxes and insurance into your monthly payment, so you have one monthly payment for principal, interest, taxes and insurance (PITI) … much like you would on your primary residence.   The financing process typically takes about 30 days from the time you submit your EM.    Remember that YOU are a factor in how fast your property closes. If that lender needs another document, give it to them pretty promptly.   When you've finalized your due diligence, and verified that the seller has made all the agreed upon repairs from the home inspection report, you will be ready to close.    You likely live in a different state than the property and will close remotely. The title company (or its a closing attorney in some states) will prepare your closing documents - including your loan docs...    ...and can arrange for a mobile notary to meet you with the docs wherever you choose (your home, your office, your local coffee shop, etc.) so you can sign the docs in front of a notary who will then overnight the docs back to the Title Company so the transaction can fund.   Yep, you can do the ink-and-paper thing with a mobile notary at your local Starbucks.   Your lender will arrange for a title company to handle all of the paperwork and make sure that the seller is the rightful owner of the house that you are buying. That's part of what they do for you.   It may seem like the closing process is a lot of work, but you'll really spend most of the time waiting. Most of the time, you'll just be sitting on your hands, waiting for someone else involved in the transaction to come through.    So find something enjoyable to occupy your time and distract you while you wait, and feel secure in the knowledge that you've done your research and know how to make your closing process go smoothly.   When you complete that closing with the mobile notary - I've done these closings at my home's dining room table, or even in my employer's conference room back when I used to have a day job - then, hey!    You need to congratulate yourself on adding another income property to your portfolio.   You know, the good news is that of all of these stages we've discussed - the longest stage of them all is your ownership of the property. You Own & Collect the cash flow.   And hey, this isn't reason enough alone - but it's kinda cool that you own property in TN and FL and IN.  You own part of each one of those states. You're like a property collector!   And with each new turnkey property you buy, you might have just increased your mostly passive cash flow by $211 per month or $118 per month or whatever it is.   If you can swing it, it can be more efficient timewise for you to buy more than one property at a time.   As you buy more income properties, it not only gets easier because you know the process, but you often get quantity discounts.   For example, a management company might charge you a 9% management fee on your first three properties, but once you own four or more, they might charge you 8% on all four rather than 9%.   Insurance companies often have similar discounts for you….so you may very well get a little more profitable as you buy more property.   I've been actively investing in real estate since 2002 and just within the steps of ACQUIRING a property, like I carefully discussed today, some incremental half-step will come up in the process that I haven't mentioned here - like signing a Lead Paint Disclosure Form.   So, you don't need to commit all of this stuff to memory.   Now, something that novice real estate investors say sometimes is something like: “I would only buy an income property that I would live in myself.”    I contend that that is an awful criterion upon which to found strategic fundamentals on purchasing an income property.   Once one filters property that way, they have let their emotions trump facts.    If the fact that a clean, safe, affordable, and functional property has a good occupancy rate in a sound employment market, decent ENOUGH neighborhood, and the numbers make sense - that's more important.   OK, you aren't living there yourself so it's not a sound criterion.   Shoot, if I moved into any income property that I own, my lifestyle would take a substantial hit. Yet I'm not a slumlord - I provide housing that's clean, safe, affordable and functional.   But they're not replete with fantastic amenities, it does not have Corinthian architecture with alabaster columns - OK - but I know there's a demographic for my rental property type that demands this responsible-but-no-frills housing over time.   It's about asking yourself a better question, like, “Will this property secure an income stream?”    Alright, would you rather have your property look “cute as a button” - or secure an income stream? I went deep on that topic just three weeks ago here on the show.   OK, we're investors here.   Some think that in today's electronic age, you should be able to complete a property purchase from the time you write an offer until you close on a property in the same-day.    Well, that's certainly not true. As you witnessed, physical things need to take place because you're buying a real, physical asset.   We've been talking today about how you buy an income property - just simply that - especially as it pertains to buying an out-of-state turnkey income property - from the time that you get a property under contract and submit the earnest money to escrow all the way to closing.   ...because that's how to generate passive income, which in turn, creates a rich life for you.   Again, this isn't an all-encompassing guide today with EVERY little detail. But we've hit the major milestones in the process & more.   You've got a good general guide on the income property-buying structure.    You might have learned something about prioritization - perhaps LLCs matter less than you thought and a communicative Property Manager matters more than you thought.   Today's show has the type of content that will be about as relevant 5 years from now as it does today.    Now, today is also evidence that real estate does not have the liquidity that some other investments do. It takes longer to get in & get out.   However, that low liquidity actually contributes to relative price stability in real estate. OK, there's no panic selling in real estate.   Maybe the most important thing for you to keep in mind is that...   You cannot make any money from the property that you don't own.   Your future depends on what you do today.   To “know” something and not “do” something is to really not know something.   The most important thing you can do is act...because you cannot make any money from the property that you don't own.   But if you're new to real estate investing & know that you need to “Start small but think big”, otherwise, all this knowledge really won't move the meter in helping you live an amazing life like RE can, in the past 1-2 years, we hired an in-house coach, who is completely free for you to use.   If you're still a little unsure or want some guidance, lean on our trusted source, Naresh at GREmarketplace.com/Coach   He is an expert at helping you along - totally free to you - again at GetRichEducation.com/Coach   It's almost hard to express how much value this gives you & makes it easy. I wish something like this existed when I started out.   There would be nothing worse than for me to share today's knowledge with you - then not let you know where to go to act upon that knowledge.     So if you're ready to get started - connect directly with market & properties at our Marketplace - at GREmarketplace.com   For a little more help, personal and one-on-one with our experienced in-house coach, start at GREmarketplace.com/Coach    Both resources are free   It's been my pleasure to bring you your Beginner's Real Estate Investing Audio Guide today.   Next week, I we'll discuss one particular geographic market that we never have before - and you probably never thought we would.   For properties, start at GREmarketplace.com For coaching, GREmarketplace.com/Coach   Until next week, I'm your host, Keith Weinhold. Don't Quit Your Daydream! 

Have you ever asked how to start a Corporation or how to start an LLC. How about What Is Piercing The Corporate Veil Or Fraudulent Transfer. I speak with Garrett Sutton and Ted Sutton of Corporate direct on some common questions on how to keep you LLC or Corporation safe and the Corporate Veil secure. The Ninja has used this company to form and work on many of his LLC's and Corporations: To schedule a free 15 minute consultation with one of our Incorporating Specialists at https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbVN4el9TRGVDeXowSWpNZGtSTGVPRTR2NzRCd3xBQ3Jtc0tuOUtPZWhONFVsaS1pYzlMUlJ4XzgwV0xOQllUemRrRmYtRzNvSFhiaDhUeWhhQVVGRjctMVcxek1FemkyRElQZFdFTzRDb3VjR0s4VmRjTWZRTFJMN29kcVpzOUFBazNzSG5tRG9nbDM5cm9pckZfVQ&q=https%3A%2F%2Fcorporatedirect.com%2Feconomicninja%2F&v=wbE-xqmZEPk to receive $100 off your new entity formation. Here is a link to my Real Estate channel please subscribe: https://youtu.be/QgMPGfM4yx0

Many people are not taking even very simple steps to protect their personal assets because no one told them the rules. However, these formalities should not be a burden for everyone. People just need to find the right help they must get. Join Dwan as she interviews Garrett Sutton. Here he talks about the importance of protecting assets, how they help set up and maintain LLCs, and the things you should start doing right now. Dawn and Garrett also talk about the importance of generating passive income. Listen up and enjoy!   Episode 306 at a glance… Who Garrett is and what he does About Veil Not Fail What LLC is and the help you need to set up and maintain it Continuity of obligation Transferring title from your name into the LLC Being careful with what advice to take Garrett as a teenager How Garrett got into working with investors and asset protection Taking steps to generate passive income Garrett's actionable tip How to connect with Garrett   Until the next episode!   Today's Guest: Garrett  Sutton is a Corporate Attorney in Reno, Nevada. He had written several books in the Rich Dad Advisor Series. They help people set up and maintain LLCs and corporations in all 50 states. Connect and know more about Garrett here: Website: https://www.corporatedirect.com  Book:  Veil Not Fail  https://www.amazon.com/Bullseye-Business-Piercing-Veil-Corporations/dp/1947588168    About the host: Dwan is America's most sought-after real estate investor coach. She has been featured on more than 50 media outlets in interviews and featured articles. For the past 4 years, Dwan's Podcast has grown in popularity and is now in the top 1000 business podcasts. Connect and know more about Dwan here: Website: https://dwanderful.com Instagram: @dwanderful Facebook: https://www.facebook.com/Dwanderful/

Garett Sutton is an attorney, best-selling author, and one of Robert Kiyosaki's Rich Dad Advisors. Garrett has over thirty-five years of experience in assisting individuals and businesses to limit their liability, protect their assets, implement advantageous corporate structures and advance their financial goals. A clear and engaging writer, Garrett authors various books that demystify legal topics and presents them in an understandable and accessible manner. Garrett is the author of Start Your Own Corporation, Loopholes of Real Estate, Writing Winning Business Plans, Buying and Selling a Business, Run Your Own Corporation, The ABCs of Getting Out of Debt, Scam-Proof Your Assets, and his newest book, Veil Not Fail in the Rich Dad Advisor Series. Garrett is also the author of How to Use Limited Liability Companies and Limited Partnerships, Toxic Client, and Finance Your Own Business, which he co-authored with credit expert Gerri Detweiler.   Garrett is the owner and operator of Corporate Direct and Sutton Law Center, which since 1990 has provided clients from around the world with asset protection and corporate formation and maintenance services. Robert Kiyosaki, the best-selling author of Rich Dad, Poor Dad calls Garrett and Corporate Direct “the premiere source for asset protection strategies.” Garett attended Colorado College and the University of California at Berkeley, where he received a B.S. in Business Administration in 1975. He graduated with a J.D. in 1978 from Hastings Law, the University of California's law school in San Francisco. He has appeared in the Wall Street Journal, the New York Times, and various other publications. Garrett enjoys speaking on asset protection strategies and is a frequent lecturer for business groups and the Rich Dad Advisors educational series.   In this episode, Garrett Sutton discusses state filing fees and how they can protect your business from lawsuits. He recommends being realistic about the need for a meeting and having an attorney review your business to make sure you're following all the rules set forth by your state. He discusses the importance of having separate LLCs for business purposes, as well as other important rules to follow when setting up an LLC. He encourages listeners to reach out to him for help with asset protection, as his services are much more affordable than most. To learn more about Garrett, listeners can visit his website at Belrose Storage Group!   [00:01 - 05:33] Opening Segment Garrett discusses his new book, “Veil Not Fail” To maintain asset protection, real estate investors must annually file fees with their state, have a meeting, and follow other rules set by the state   [05:34 - 16:38] Protect Your Assets With An LLC You need to have a separate bank account for your LLC or corporation You can't run an LLC or Corporation through your personal account You must have a registered agent to accept service of process or a notice of a lawsuit The need to have a separate tax return for each entity you own A management company can be used to pay for health insurance premiums or to protect the corporation from lawsuits The many types of LLCs that can be used for asset protection It is easy to switch registered agents, and having multiple registered agents can be annoying   [16:39 - 21:18] Closing Segment Garrett encourages listeners to book a 15-minute call with him to discuss asset protection options   Garrett shares where you can get in contact with him (links below)     Quote/s: “You want the world to know that they're doing business with a corporation or an LLC on your checks, on your contracts, and on your business cards.” – Garrett Sutton   You can connect with Garrett through his:  Website: Corporate Direct Facebook: Corporate Direct Twitter: Garrett Sutton LinkedIn: Garrett Sutton YouTube: Garrett Sutton   WANT TO LEARN MORE?   Connect with me through LinkedIn   Or send me an email at sujata@luxe-cap.com   Visit my website www.luxe-cap.com or my YouTube channel   Thanks for tuning in!   If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!

The ideal inflation rate is zero just like the ideal theft rate is zero. When lower inflation (7.7%) was recently reported, mortgage rates experienced a record daily drop. I detail the implosion of crypto exchange, FTX. It was a Ponzi scheme. 2022 is the 2008 of crypto. Garrett Sutton and his son, Ted Sutton, announce the father-son succession plan. They are attorneys that help protect your real estate from lawsuits at Corporate Direct. Ted's experience at a Chilean copper mine helped make him pivot from a mining engineering track and into law. RE investors have three main lines of defense: 1) Ethical operations. 2) Insurance. 3) LLC. Learn how to properly form and maintain an LLC. Don't try to win a lawsuit. Avoid it in the first place. Learn why landlords get sued today. Corporate Direct provides free 15-minute consultations. Resources mentioned: Show Notes: www.GetRichEducation.com/424 Corporate Direct protects your biz & real estate from lawsuits: Corporate Direct  Garrett Sutton's newest book: Veil Not Fail Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com JWB's available Florida income property: www.jwbrealestate.com/gre or (904) 677-6777 To learn more about eQRPs: text “GRE” to 307-213-3475 or: eQRP.com Analyze your RE portfolio at (use code “GRE” for 10% off): MyPropertyStats.com  Memphis property that cash flows from Day 1: www.MidSouthHomeBuyers.com I'd be grateful if you search “how to leave an Apple Podcasts review” and do this for the show. Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Top Properties & Providers: GREmarketplace.com Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold

Meet Garrett Sutton, a Rich Dad Advisor, corporate attorney, asset protection expert and best selling-author with 900,000+ books sold. With his insights and experiences, I know Garrett would have a lot to offer to the listeners of your podcast. Garrett has over 35 years of experience working with entrepreneurs and investors. As the founder of both Corporate Direct and Sutton Law Center, Garrett enjoys helping entrepreneurs and real estate investors understand the advantages of forming business entities and how to protect their assets while maximizing their financial goals. Additionally, he enjoys his role as a frequent lecturer for small business groups as well as the Rich Dad Advisors series.Connect w/ Garrett:Email: hanna@podcastingyou.comWebsite: https://corporatedirect.comInstagram: @corporatedirectFacebook: https://www.facebook.com/corporatedirectnvTwitter: @GarrettSuttonLinkedin: https://www.linkedin.com/in/garrettsutton/Rich State of Mind Links:Website: www.richstateofmind.comJoin our email list to know our services and our prize giveaways:  https://sendfox.com/richstateofmind1Youtube: https://www.youtube.com/channel/Instagram : @richstateofmindpage and @rich_invests_Podcast links: https://linktr.ee/anthanerichiePlease like and subscribe to our channel.See our cool wealth building and real estate T-shirt designs in the links below :Rich State of Mind Store : https://bit.ly/RichStateSupport the show

Join Mike Cavaggioni with Garrett Sutton on the 135th episode of the Average Joe Finances Podcast. Garrett shares his experience in assisting individuals and businesses limit their liability, protect their assets, implement advantageous corporate structures, and advance their financial goals.In this episode, you'll learn:Why a real estate investor should get an LLC to protect their assetsMistakes people make when opening up an LLCWhy it's important to “have a meeting with yourself” as a Single Member LLCThe big changes right now in real estateAnd so much more!About Garett:Garrett Sutton is an attorney, best-selling author and one of Robert Kiyosaki's Rich Dad Advisors. A clear and engaging writer, Garrett authors various books that demystify legal topics and presents them in an understandable and accessible manner. Garrett is the author of Start Your Own Corporation, Loopholes of Real Estate, Writing Winning Business Plans, Buying and Selling a Business, Run Your Own Corporation, The ABCs of Getting Out of Debt, Scam-Proof Your Assets, and his newest book, Veil Not Fail in the Rich Dad Advisor Series. Garrett is also the author of How to Use Limited Liability Companies and Limited Partnerships, Toxic Client, and Finance Your Own Business, which he co-authored with credit expert Gerri Detweiler. Garrett is the owner and operator of Corporate Direct and Sutton Law Center, which since 1990 has provided clients from around the world with asset protection and corporate formation and maintenance services. Robert Kiyosaki, the best-selling author of Rich Dad, Poor Dad calls Garrett and Corporate Direct “the premiere source for asset protection strategies.”Find Garrett Sutton on:Website: https://corporatedirect.comFacebook: https://www.facebook.com/corporatedirectnvInstagram: https://www.instagram.com/corporatedirect/Twitter: https://twitter.com/GarrettSuttonLinkedIn: https://www.linkedin.com/in/garrettsutton/Youtube: https://www.youtube.com/channel/UCT-pLv4_qmcTH-Xnu_uEyNQ Average Joe Finances®All of our social media links and more: https://averagejoefinances.com/linksTools and resources I use: www.averagejoefinances.com/resourcesCRM Tool: www.averagejoefinances.com/crmPay Off Your Mortgage in 5-7 Years:www.theshredmethod.com/averagejoefinancesFind a REALTOR® in any state: www.averagejoefinances.com/realtorMake Real Estate Investing Easier with DealMachine: www.averagejoefinances.com/dealmachinePodcast Hosting: www.averagejoefinances.com/buzzsproutPodcast Editing Services: www.editpods.com*DISCLAIMER* https://averagejoefinances.com/disclaimerSee our full episode transcripts here: https://www.averagejoefinancespod.com/episodes--------------Tropical Sensation by Mike Leite soundcloud.com/mikeleite Creative Commons - Attribution 3.0 Unported - CC BY 3.0 Free Download/Stream: https://bit.ly/-tropical-sensationSupport the show

When a business owner or shareholder is held personally liable for the debts owed by their business, that's called “piercing the corporate veil,” and it happens in almost half of all lawsuits against single-member, small corporations, and limited liability companies (LLCs). So how can you protect yourself from a similar situation? Forming an LLC or corporation can protect your assets and offer other benefits. But only if you do it right. That's what Russ, Joey, and their guest, Garrett Sutton, will discuss in today's episode.  Garrett Sutton, Esq. is a corporate legal expert and the personal asset protection attorney for Rich Dad founder Robert Kiyosaki. Garrett is the author of https://www.amazon.com/Bullseye-Business-Piercing-Veil-Corporations/dp/1947588168 (Veil Not Fail). He shares the critical information business owners, entrepreneurs, investors, and high-wealth individuals need to set up and maintain secure corporate entities to protect themselves from personal legal exposure. Top 3 Things You'll Learn:  Basic rules and corporate formalities you need to follow to keep your legal entities in good standing How to avoid a default judgment How to reduce your personal liability in the event of a lawsuit   About Our Guest: Garrett Sutton is a corporate legal expert and has been in practice for over 35 years. He assists entrepreneurs and real estate investors worldwide to protect their assets and maximize their financial goals through sound management and asset protection strategies. Garrett is highly sought after as a guest speaker and serves as a member of the elite group of “Rich Dad Advisors” for bestselling author Robert Kiyosaki. In addition, Garrett has authored several successful books for business owners, including Start Your Own Corporation, Run Your Own Corporation, Writing Winning Business Plans, and Loopholes of Real Estate. These books are part of the bestselling Rich Dad, Poor Dad wealth-building book series.   Resources: Veil Not Fail: Protecting Your Personal Assets from Business Attacks (Rich Dad Advisor Series) by Garrett Sutton - https://www.amazon.com/Bullseye-Business-Piercing-Veil-Corporations/dp/1947588168 (https://www.amazon.com/Bullseye-Business-Piercing-Veil-Corporations/dp/1947588168)   Connect with Garrett Sutton: Corporate Direct Website - https://corporatedirect.com/ (https://corporatedirect.com/) Schedule a Consultation with Garrett Sutton and his Team: https://corporatedirect.com/schedule/ (https://corporatedirect.com/schedule/) Take Advantage of a Free Financial Strategy Call: https://go.wealthwithoutwallstreet.com/free-financial-call (https://go.wealthwithoutwallstreet.com/free-financial-call)

As a business owner, you know that access to capital is essential to keeping your business afloat and growing. But what are the best ways to get business credit? And what are the biggest mistakes that owners make when it comes to their credit scores? In this episode, Spencer sits down with Gerri Detweiler, Gerri is an internationally recognized expert on personal and business credit and business finances and has been featured in major media outlets, courses, and podcasts. She talks about building your business credit even as a solo entrepreneur, as well as the different things to keep in mind when buying a business. Gerri also clears out the confusion on accessing capital, getting additional capital, and credit scores in the business world. Who's the Guest? Gerri Detweiler is a writer, speaker, and author who's passionate about helping small business owners and consumers make better credit and financial decisions through education and advocacy. She helped develop educational programs and materials to teach consumers and small business owners through website articles, print materials, radio, podcasts, courses, and videos. Gerri's specialties include personal credit, small business finance, and business credit education. She has written five books: Finance Your Own Business: Get on the Financing Fast Track (2016) with attorney Garrett Sutton; Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights (updated 2014); Reduce Debt, Reduce Stress: Real-Life Solutions for Solving Your Credit Crisis (Good Advice Press, 2009); Invest In Yourself: Six Secrets to a Rich Life (Wiley), The Ultimate Credit Handbook (Plume 1993, rev. ed. 2003). Episode Highlights Guest spotlight: Who is Gerri Detweiler? What are the confusions when it comes to accessing capital, getting additional capital, and the credit scores in the business world? Building your business credit even as a sole proprietor. What the DUNS number is and how important is it for your business? The differences between a personal guarantee and no personal guarantee and how it connects to having a business. What are the timelines that people should expect, especially if you're a startup? The different things to keep in mind if you're purchasing a business. How can you monitor your business credit to avoid identity theft and other issues? Expert advice: What are the simple ways to start building your business credit? Links and Resources Finance Your Own Business https://www.gerridetweiler.com/ https://www.nav.com/ https://www.linkedin.com/in/gerridetweiler  Call to Action List of credit card issuers that report to business credit: https://www.nav.com/blog/which-credit-cards-can-help-me-build-business-credit-25633/ List of vendors that help build business credit: https://www.nav.com/resource/net-30-accounts/ Get a free printed copy of Finance Your Own Business (with a free Nav account): https://corporatedirect.com/business-credit-reporting-tool-book/  Subscribe and Share Find us on Apple Podcasts Follow us on Spotify Listen on Stitcher Say hi on Twitter @spencershaw If you like what you hear we'd love for you to leave a review and tell us what you think. Your support is the fuel that keeps us going!

Garrett Sutton is an American non-fiction writer and attorney. He is the founder of Sutton Law Centre and Corporate Direct. Previously, he has hosted Entrepreneur Magazine Legal Show. His books have been reviewed by Kirkus Reviews, Publishers Weekly, Booklist, and The State Journal-Register. Contact us: Dwellynn.com/invest

Garrett Sutton is a corporate attorney, asset protection expert and best selling author who has sold more than a million books to guide entrepreneurs and investors. For more than 30 years, Garrett Sutton has run his practice assisting entrepreneurs and real estate investors in protecting their assets and maximizing their financial goals through sound management and asset protection strategies. The companies he founded, Corporate Direct and Sutton Law Center, currently help more than 13,000 clients protect their assets and incorporate their businesses. Garrett also serves as a member of the elite group of “Rich Dad Advisors” for bestselling author Robert Kiyosaki. A number of the books Garrett Sutton has authored are part of the bestselling Rich Dad, Poor Dad wealth-building book series. There are three types of entities most commonly used to own real estate: Limited Liability Company, S Corporation and Limited Partnership. Tune in for todays episode where Garrett provides a quick summary of the best entities for real estate investment. Episode Link: https://corporatedirect.com/contact/ --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: Hey, everyone, welcome to another episode of the Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by Garrett Sutton, who is an attorney, investor and author with over 1 million copies of his book sold and today Garrett is gonna be talking to us about all the different entity structures we should be aware of as real estate investors, as well as wherever we might want to think about forming those entities because it plays a big role. So let's get into it.   Garrett, thank you so much for joining me on the show today. I really appreciate you taking the time.   Garrett: Thanks, Michael. It's a pleasure to be with you today.   Michael: No, no, the pleasure is all mine ad I'm super excited to chat with you. I know a little bit about your background and what you do kind of on a day to day basis. But I would love if you could share with our listeners who you are, where you come from, and what is it that you're doing in real estate today?   Garrett: Well, I grew up in the San Francisco Bay Area like you and I moved to Reno in 1989 and Nevada is a great state for setting up LLCs and corporations along with Wyoming. So I practiced corporate law since 1978, and became associated with Robert Kiyosaki and have written a number of books in the rich dad advisor series and you know, have enjoyed talking to people around the country around the world about how to protect your assets. As you start investing in real estate, you need to think about how you're going to protect that real estate because we live in a very litigious society, people sue each other all the time and unfortunately, they don't teach this in school, you have to get this information on your own and so that's what we provide is the information you need and then we offer a service to help you protect your real estate and brokerage and other assets.   Michael: Love it and just right off the bat, I read one of your books for our Roofstock Academy book club, it was a great read, so I can definitely vouch for it. But what are the books that you've written and then what talk to us about your most recent book?   Garrett: Well, I've written a number of books in the rich dad advisor series, including start your own corporation, that's kind of a foundational one, and then run your own corporation, a lot of my clients and I set up a corporation now what do I do, and you have to run it properly. Then I also did loopholes of real estate, which is kind of the tax and legal strategies for investing in real estate and then the newest book is veil not failed and that deals with the corporate veil, you set up an LLC or a corporation to be protected and too many people do this themselves, Michael, they just set it up online, and they don't realize that there are additional steps you have to take to stay protected and so if you don't want your veil to be pierced where someone can sue the company, there are no assets there. They can go through the veil of the company and get it your personal assets, if you don't want that to happen and that's why you set up an LLC.   Michael: That's the point, yeah…   Garrett: It's that you don't want it to happen. You need to follow these corporate formalities and so that's what the book veil not fail is about kind of stories, horror stories of people who didn't follow the rules and then in the latter part of the book, it shows you how to follow the rules so you can stay protected.   Michael: Yeah, great. and where can people find out if they're interested in picking up a copy?   Garrett: Amazon has it the veil not fail. It was supposed to be out in April, but we have this thing called supply chain problems.   Michael: I've heard of that.   Garrett: Not enough paper out there. So it's not out until November but you can go ahead and preorder it.   Michael: Fantastic. Garrett, let's talk about I think a pretty hotly contested and debated topic in the real estate space and that's LLC versus no LLC, I think and it's tough because we're I'm California based. A lot of our listeners are California based and so to have an LLC in California, you're paying at minimum 800 bucks a year and with today's cash flow based on some real estate investments that can eat in to your investment pretty significantly and so I've heard folks say, you know, forget the LLC, go get umbrella policy, go get high liability limit insurance and call it a day. Don't worry about it. What are some risks pros cons associated with doing that, that you've seen folks run into?   Garrett: You know, there's a whole area of law called Bad Faith litigation, and that's when insurance companies collect the premiums and then find a way not to cover you. All right, the insurance companies have acted in bad faith over the years. errors in collecting the premiums and then having exclusions, that little tiny print that you never read and so, you know, the insurance companies, let's face it, they have an economic incentive to not cover every claim and so they're going to find reasons not to cover you and so I always recommend that people have insurance. That's the first line of defense but these LLCs are the second line of defense, in case the insurance company doesn't cover you, or what about a situation where your insurance is, say 2 million, but the judgment is 4 million, right? I mean, you're personally responsible for that extra 2 million. If the property is in an LLC, they can get what's inside the LLC. But if you've done it, right, if you if your veil is strong, they're not going to be able to reach your personal assets for that extra 2 million. So the idea that you're just going to rely on insurance is, in my opinion, quite naive.   Michael: Yeah. Okay, I love it. I'm of the same opinion. I always, I never like to play my hand, though but I love hearing that because I come from the insurance world. So I know how bad things can go and I also have seen how they're supposed to work. But I think you're totally right, there's totally an economic incentive to not pay claims and the insurance industry as a whole gets kind of wrapped in with the folks that are doing the latter, not the former. So I think it makes a ton of sense. But Garrett talked to me about I've heard this concept, and this idea that, okay, there's this, you can be over insured, there is such a point. Now, if I go get a $10 million umbrella, because I really want to be protected. Does that then put a target on my back for a claim or a plaintiff to say, well, hey, he's got a pretty a pretty massive insurance policy, you know, I was only going to sue him for a million, but let's go after the full 10.   Garrett: Well, I mean, there are a number of factors there. I mean, having enough insurance is not a bad thing. If the claim is a million, it doesn't give the attorney the right to try and collect 10 million, you know, I mean, the claim is a million. So you know, the fact that you have extra insurance isn't a bad thing. The attorneys, you know, what we like to do, what we tell our clients is you want to have enough insurance to cover any claim and so you want to have insurance on the property fire casualty, right? You want to have a personal umbrella policy of insurance covering your home and your autos because I think that's the biggest risk out there is a horrific car wreck, right. Do you need that umbrella policy, a commercial umbrella policy over your various rental properties, maybe I had a part such a policy for a while but here in Reno, it got pretty expensive and so I just have regular insurance on the properties. I have regular insurance for my home and autos and I have an umbrella policy for me personally and so you get in that horrific car wreck. There's enough insurance money for the attorneys to get at. They know how to get at insurance monies, they get a percentage of what they collect and then if everything else is held in LLCs you know you'll have a an LLC if you own a property in Oregon, you have an Oregon LLC on title, you own a property in Utah, you'll have a Utah LLC and tie on title and then those two LLCs are owned by one Wyoming LLC. That's how we like to structure things and the attorneys are going to have a tough time collecting from a Wyoming LLC and so they leave you alone on the LLC. Do you have enough insurance to pay the claim and they'll leave you alone on the LLC is that's how we recommend our clients structure things.   Michael: Okay, and why Wyoming LLC because I know you made a very deliberate point of saying where is formed, what's the point?   Garrett: There are three really good states out there and they compete against each other to be the best which is good for us. Instead of having one federal law that applies to every single state. After the American Revolution, each state wanted their own corporate law and so now we have each state with their own corporate law in Delaware, Wyoming and Nevada compete against each other to be the best. You know, the filing fees every year that come in are pretty good. It helps fund the government. So the reason I like Wyoming over Nevada and Delaware is all three protect the owner of the LLC the charging order is the exclusive remedy and all three, but in Nevada and Delaware the annual fee is $350 a year and in Nevada they list your name on the state website. In Wyoming the annual fee is $62 a year and your name does not show up on the State web site. So Wyoming offers lower cost, better privacy and equal protection. So a lot of our clients set up Wyoming LLCs.   Michael: Yeah, okay, well, I'm sold. So being a California guy, though, this is what I've heard and would love your insights. So I've been told that California they want their piece of the pie. So I've got to register any LLC that I own. In California, because I'm a resident here, I live here, even if it has not doing business, because the way California defines doing business is basically me living here. So if I do I own property in Oregon, I own it with an Oregon LLC, that LLC is owned by the Wyoming LLC, but then I gotta register both of those here in California?   Garrett: No, you raise a very good question. So in our example, we had an Oregon LLC and a Utah LLC and if those were owned by you, as a California resident, we'd have to pay 800, twice, once for Oregon, once for Utah, by having the Wyoming parent there, the Wyoming LLC, and we qualify that one to do business in the State of California. You don't have to pay the 800 for Utah, or Oregon. So that's a way to save the $800 for all the title holding LLCs yes, one of them has to pay right $800 to the state of California and you know, California has gotten a little bit looser, you don't have to pay the 800 the first year, that $800 is a credit on the first $50,000 in profits. So it's not like it's wasted. So, you know, I've had people move from California to Nevada, because of that $800 fee. It's just infuriates people. But there is if you love living in California, there's a way to work it so you have protection, and you don't have to pay $800 for every single LLC you own across the country.   Michael: Okay, fantastic and then in going back to that example, if I've got the I've got to register the Wyoming LLC here in California, do I lose out on any of the anonymity that Wyoming affords me because now it's registered here in California?   Garrett: Yeah, you'd have to list your name in California.   Michael: Okay, all right. Yeah, maybe I will think about moving, who knows? All right, Garrett, in your book, and I want to get really nice here for a minute, because I've got you. You talk about quitclaim deeds versus warranty deeds and I think a lot of our listeners out there have utilized this practice, or have heard about this practice because if you go get a conventional loan from a traditional bank, they won't lend to an LLC. So you go get the name the loan in your name, then transfer the property title to an LLC after the fact, right. In the book, you talk about quitclaim deeds versus a warranty deed, can you give us a little bit of insight into what the difference is and why someone should think about using one versus the other?   Garrett: Well, the warranty deed or the grant deed says, I warrant that I own this property and if I don't, if I transfer it to you, and I don't own it, for some reason, you can sue me. All right. So it's a more powerful deed. The grant deed, the quitclaim deed rather, says, I don't know what I own. But I'm transferring whatever I own to you and the title companies go, well, he quit claimed that property and so that severs the title insurance, right because he didn't know what he had and so we're not going to cover him on it on a quitclaim deed and so and too many people pronounce it quick claim.   Michael: I know, I know.   Garrett: You know, and it's the same deed with a couple of different words in it. But you really always want to use the grant deed or the warranty deed because in many cases, you sever the title insurance, when you use a quitclaim deed, okay, and that's….   Michael: Okay and that's even if you're going from yourself as an individual owner to an LLC that you own 100% of?   Garrett: Right, yeah, just ask for the grant deed. Also, if you're buying property from someone, you want to insist on a grant deed or a warranty deed, because if they don't deliver the title that they've promised they are going to deliver, you have the ability to sue them for failure to perform.   Michael: Okay, super good to know, super good to know, Garrett, as people who are just getting started on their investment journey, I mean, what's the appropriate time to set up an entity because I've heard people say, I'll do it later. I'm too small. It's too expensive. You know, what are your thoughts there?   Garrett: Right at the start, you know, it's just not that expensive. We do not charge a lot of money to set up LLCs for people. It's very affordable. It's a business expense, you get to write it off. But I'll give you an example Michael and I I've told this story 1000 times, but I was in San Francisco at an event and I gave a talk about asset protection and this lady comes up to me and she goes, Well, I'd like to transfer title. I just bought a duplex and I'd like to transfer title into the name of an LLC. I go, that's a great idea. I go in California, it's $800 per year per entity and she goes, oh, I can't afford that and so I'm giving a talk in San Francisco again and she comes up to me and says, I've been sued by a tenant, I'd like to set up that LLC now. Well, it's too late, right? You know, the tenant rented from you, in your individual name, UX, they have a claim against you as an individual, and they can reach all of your personal assets as a result and once you've been sued, or even threatened to be sued, it's too late to set up an LLC. I mean, you can't put a seatbelt on after the accident. Yeah, right. So you really want to set this up right at the start and I've heard CPAs say, oh, well, you know, just set it up when you can and that's bad advice. I mean, you know, the joke I tell is that CPA stands for can't protect assets. It's just, you need to set this stuff up right now.   Michael: Yeah, yeah. Okay. I think it makes a ton of sense and I love the seatbelt analogy. I think that really hits home for a lot of folks. So as someone that's getting more sophisticated with their investing strategy, what like tools or strategies should they be aware of as they're starting to scale up and they're investing?   Garrett: Well, I think having that Wyoming, LLC is the parent holding LLC is a good strategy. We talked about an Oregon LLC and a Utah LLC owned by one Wyoming LLC and that Wyoming LLC is passive. It's not going to hold real estate, it's not going to do business with anyone, because if someone sued the Wyoming LLC, they could get at Wyoming at the Oregon and the Utah LLC. That's what the Wyoming LLC owes. So that Wyoming LLC is passive, it doesn't do business with anyone because we don't ever want it to be sued. All right. So that's a key strategy in protection. Now, if your clients are holding brokerage accounts, right, bank accounts, gold and silver stock brokerage accounts, in their individual name, the same rules apply. If they get sued personally, and they have all these assets at a Charles Schwab account in their individual name, someone can very easily get those and so what we do is we set up an LLC for the paper assets for the bullion and if you get sued, and that horrific car wreck, they're in an LLC, it's much different, much more difficult for an attorney to get at those because the exclusive remedy in Nevada and Wyoming is what's called the charging order and that is a lien on distributions in the state of California if you own an LLC that owns a piece of real estate in California, the law in California is that the car wreck victim can go to court and the judge can say yes, you've been injured, you can set forth the sale of the duplex. All right, and that is not good asset protection. So we like Wyoming and Nevada where the court says, okay, you have a claim. But here's the remedy that we offer in our state, you are entitled to distributions that come through the LLC, you can't barge in and force the sale of the real estate, you have to wait for distributions to come and that's not a good use of the attorneys time. You know, monitoring if distributions are made there on a contingency fee, they get paid when they collect on the insurance monies. So their time is better spent going to the next case that has insurance. So that Wyoming LLC that offers the charging order remedy, not where they can barge in and force the sale of the real estate but where they have to wait and monitor distributions that go to you. It's a much better system for protection than choosing a weak state like California, Utah is a really weak state, New York is weak. So we have to understand which states are strong and weak and structure your plan accordingly.   Michael: Yeah, interesting and Garrett, talking through all this kind of makes me beg the question of in our Utah, Oregon, Wyoming, California LLC example where the Wyoming LLC owns the properties. There is a holding company rather, if the tenant in Oregon falls and Sue's sues the owner. I mean how far Is this go and where is the court date held, how does that all work?   Garrett: Well, if you, if the tenant has is renting from the Oregon LLC, that's or they're in contract with, so the claim would be tenant would sue the Oregon LLC, the lawsuit would take place in Oregon, right? That's where the property is. That's where the tenant fell. The action stays within the Oregon LLC, it doesn't give the tenant a right to go down to the Wyoming LLC, which is the parent, it doesn't give the tenant the right to go over to the Utah LLC. That's a separate business entity. So the key here is that if the tenant sues, you want to get notice of that lawsuit as soon as possible, right, you want to turn over this claim to your insurance company, so that they can assist in settling the case. Too many people, Michael have this idea that if they use a land trust, where no one will ever know who the owner is, and no one will ever serve you is just nonsense because you want to get notice of the lawsuit as soon as possible. In the Land Trust scenario, they say, well, geez, no one will ever find out who the owner is. Well, what happens is they go to court and they say, Look, we tried to sue the land trust, we couldn't find out who the owner was and the court says, okay, well published notice in the newspaper. So they published it little two point type in the newspaper that We're suing the Oregon LLC, or the Oregon Land Trust, rather and you don't get notice of that either. They go back to court and say we tried to serve them, we published notice in the newspaper, and no one ever showed up. The court says default judgment, meaning the tenant has won and then when they're trying to collect, you know, you find out that you've been sued, the insurance company can say, Well, look, you should have had notice of this lawsuit, we could have defended you, but we're not covering you now. You didn't give us the proper notice and so this whole idea of a land trust and privacy is just nonsense. You want to get notice of a lawsuit, so you can turn it over to your insurance company.   Michael: Yeah, that makes no sense. I guess it's kind of like the ostrich approach like if I stick my head in the ground, I don't see it. I don't hear about it. It's not a problem.   Garrett: Yeah, it is a problem.   Michael: Interesting, okay and Garrett talked to us about some of the different entity structures that are out there. Because there's the C Corp, the S Corp, the single member LLC, multi member LLC, like should we as real estate investors be thinking about utilizing some of these different corporate structures or is really the LLC that that kind of 45 of structures.   Garrett: Pretty much the LLC is the way to go, if you're going to hold real estate, you in some cases, the limited partnership can work. If you're syndicating real estate and you want to absolute control, the limited partnership can work, you're not going to hold title to real estate in a C Corp or an S Corp or any other kind of corporation, tax wise, it's just not the best way to go. So the LLC is pretty much I mean, 98% of our formations for real estate are LLCs. The other 2% would be LPS for syndication purposes, or, you know, for estate planning purposes where mom and dad with an LP, the general partners, which would be another LLC can own as little as 2% and have absolute control over the property. So mom and dad through their LLC have 2% ownership, the limited partnership has 98% ownership owned by the kids as limited partners, and the kids can't force mom and dad to sell the property. So there are cases where the limited partnership works but in the vast majority of cases, it's the LLC that is on title to the real estate.   Michael: Okay. Good to know, good to know. I had another question for it and it totally escaped my mind.   Garrett: Well, how about fail not fail the new book?   Michael: Yeah…   Garrett: You know, people have these promoters out there just say that most wrongheaded stuff about LLC. I mean, they say that you don't need an operating agreement- wrong. They say that you never have to issue stocks or timber membership interests certificates- wrong. So you you'd need to treat your LLC, like a corporation whereby you have to follow these formalities. You have to have the annual meeting, right and the idea that you never have to have a meeting is when you get into a court of law, you're in front of a judge or a jury. I want you to have a minute book with the minutes of every yearly meeting in it and these promoters say, well, you never have to have a meeting. I want you to walk into court and tell the jury, yeah, I ran this property for 12 years and never had a meeting. It just doesn't work.   Michael: It's not going to fly.   Garrett: It's not going to fly. So you know, the reality is, when you're in a courtroom, the reality is not when you're in office with a promoter telling you don't have to do anything to maintain your LLC. It's just not accurate. Yeah, so that's why I wrote the book, because there's so much misinformation out there about corporate formalities. So with a corporation, you need to follow the corporate formalities and with an LLC, you need to follow the corporate formalities because someone suing can pierce the corporate veil on a corporation, they can pierce the veil on an LLC. It's very, and the rules are not hard to follow. They're really easy. It's just if you don't follow them, they can go through the LLC and reach your personal assets.   Michael: Yeah no, that's such a great point and also, Garrett, I mean, to that point, if someone listening is thinking about reaching out to an attorney for help with forming for entities or restructuring entities, I mean, what are some questions they should be asking and things they should be looking for, with an attorney that they want to put on their team?   Garrett: Well, does the attorney invest in real estate? I mean, I think that's a good question to ask because, you know, I invest in real estate, I've been through the wars and so it just helps you appreciate what the client is going through to have done that yourself. You know, I think some attorneys specialize in personal injury. In contract cases. I mean, you want someone who really knows the ins and outs of LLCs, and appreciates that we have good states and weak states, and that you have to put the combination together to fully protect the client.   Michael: Yeah, that makes total sense and we're recording this, let's see September 2022, what is like the reasonable cost to form an LLC, and then what are any kind of maintenance fees associated with maintaining the LLC?   Garrett: Well, we charge a flat fee of $795, in that, and then the filing fees are on top of that. So Wyoming, for example, is $100. That 795 includes the registered agent for the first year. So you're not paying any extra for that. We also have a system whereby we keep all your documents and if you have lost your operating agreement, we give you a portal where you can go on and download your documents. So we kind of have this backup service for you and then so you pay the 795, the first year, and then the second year, it's already formed, so everything drops down, you only pay 125 to four, the registered agent. Now we give you a book that shows you how to do the minutes because you really should do the minutes every year and even though we give you the book with the forms in it, a lot of people don't do it. So we offer a service where for $150 a year, we'll make sure that your minutes are done and we want to keep you in good standing, we want you to have those annual meeting minutes in your file, just in case you don't want to be in a courtroom and say I never had a meeting.   Michael: Right, it's too late, then like you said, Garrett, this has been super informative and people want to reach out, continue the conversation, take advantage of your services, what's the best way for them to get in touch?   Garrett: Well, they can go to https://corporatedirect.com/schedule/ and set up a free 15 minute consultation with an incorporating specialist that you'll work with this person all the way through the process and they'll give you a quote for what our services entail and you know, just see if there's a fit, we're happy to talk to you and so we set up entities in all 50 states, maybe you're you set up your entity already, it's an LLC, you don't have an operating agreement, you haven't issued the membership certificates. Don't tell anyone but we can clean it up for you. We also offer a registered agent service in all 50 states. So if you've got one company here, one company there we can be your one company to serve as the registered agent in all 50 states. So we'd be happy to help your listeners Michael and you know, have them call corporate direct or go, go visit the website, corporatedirect.com and there's plenty of information and articles there and kind of tells you what we do.   Michael: Amazing. Well, Garrett, thank you so much for that. One final question before I let you out of here. We've said the term a couple times. But for anyone who maybe isn't familiar, can you bring them up to speed on what a Registered Agent is and what the importance is?   Garrett: Well, the Registered Agent is someone in the state where you set up the entity or where you're qualified to do business and the idea is that instead of having someone who's trying to sue you search all over the state of Texas for you, right? The Registered Agent is an address where someone suing, you can go and serve the registered agent with service of process. So it's just it's kind of an efficient way for the justice system to work. It's one place where you can serve an LLC or a corporation, and then they're responsible for forwarding that on to you and so you want to use a reputable registered agent service that knows the importance of a lawsuit, if we get a notice of a service, we're on the phone immediately to our client, because you've only got 30 days to get an attorney and answer that complaint. So you don't want a mom and pop that is going to go out of business or doesn't appreciate the consequences of being served with a lawsuit. So it's an important function and if you fail to pay the Registered Agent, they're going to refuse service a process and then they're, you know, the person suing us is going to go back to court and get, you know, authorization to publish notice in the newspaper, and again, you're not going to get noticed to this cert of the claim. So you want to have that registered agent on your team at all times.   Michael: Yeah, yeah, super great point and the Justice Department looking for efficiencies. That's not something I maybe I've ever heard before. So really exciting stuff.   Garrett: It's something that does exists, so…   Michael: Oh, Garrett, thank you. Again, this was super informative, and I definitely would love to have you back on once your book comes out in November.   Garrett: That sounds great. Thanks, Michael.   Michael: You got it, take care. We'll chat soon.   Garrett: All right.   Michael: All right, everyone, and that was our episode a big thank you to Garrett for coming on. Definitely take advantage of that. 15 minute free consult if you're interested. As always, if you liked the episode, feel free to leave us a rating or review. We'd love to hear from you all and we look forward to seeing on the next one. Happy investing…

Asset protection is a critical aspect of any real estate investing business. And sadly, it's something that many investors overlook until it's too late. In the event of a lawsuit, it's important that your legal entities are set up to protect your personal assets. On today's show, I'm bringing in the most qualified expert I know to discuss asset protection for real estate investing. On this episode of Investing in Real Estate, I'm sitting down with Garrett Sutton. Garrett is an attorney, bestselling author, Rich Dad Advisor, and the founder of Corporate Direct. In his new book, Veil Not Fail, Garrett shares important strategies for reducing your liability in the event of a lawsuit. Today you're going to hear some of his best tips on legal entity structure, corporate formalities, insurance for rental properties and so much more!

Garett Sutton is an attorney, a best-selling author, and one of Robert Kiyosaki's Rich Dad Advisors. Garrett has over thirty-five years' experience in assisting individuals and businesses to limit their liability, protect their assets, implement advantageous corporate structures, and advance their financial goals. Garrett is the owner and operator of Corporate Direct and Sutton Law Center, which since 1990 has provided clients from around the world with asset protection and corporate formation and maintenance services. Robert Kiyosaki, the best-selling author of Rich Dad, Poor Dad, calls Garrett and Corporate Direct “the premiere source for asset protection strategies.” He shares his insights on how to be successful in this industry, emphasizing the importance of taking consistent action towards one's goals. He recommends listeners to take a proactive step by incorporating their business. You can schedule a meeting with him at https://corporatedirect.com/schedule! [00:01 - 03:34] Opening Segment   Garrett shares that passive investing is a way to invest in real estate without having to manage the property or deal with tenants This can be a good option for people who are not interested in managing their own property or who want to avoid the risk of eviction Active investing is a way to invest in real estate by taking on the responsibility of managing the property and dealing with tenants This can be a good option for people who are interested in owning their property     [03:35 - 20:26] The Benefits of Asset Protection Garrett shares that it is important to consider both active and passive investing when making this decision, as each has its own advantages Active Investing versus Passive Investing The benefits of each approach It is important to follow formalities when setting up an LLC, as this can protect your personal assets in the event of a lawsuit The common reasons why people are sued include: Not having insurance coverage Not following the rules to set up for an LLC   [20:27 - 24:15] Closing Segment Garrett advises that it is important to have an incorporating specialist help you create a legal structure that will protect your assets   Garrett shares where you can get in contact with him (links below)   Quote/s: “No matter what you do, passive or active, you've got to consider asset protection.” – Garrett Sutton You can connect with Garrett through his: Website: https://corporatedirect.com/schedule Facebook: Garrett Sutton Twitter: Garrett SuttonLinkedIn: Garrett SuttonYouTube: Garrett Sutton WANT TO LEARN MORE?   Connect with me through LinkedIn   Or send me an email at sujata@luxe-cap.com   Visit my website www.luxe-cap.com or my YouTube channel   Thanks for tuning in!   If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!

As real estate investors, we spend years building up generational wealth. But a single lawsuit can tear it all down. So, how do we put the right asset protection measures in place? Garrett Sutton is the corporate attorney and asset protection expert behind Corporate Direct, a firm that helps entrepreneurs and investors protect their assets, maintain their privacy and achieve their financial goals. Garrett is also one of Robert Kiyosaki's Rich Dad Advisors and the bestselling author of several books, including his new release, Veil Not Fail: Protecting Your Personal Assets from Business Attacks. On this episode of Financial Freedom with Real Estate Investing, Garrett joins cohost Garrett Lynch and me to explain why asset protection is crucial for real estate investors at all levels. Garrett discusses why an LLC is the best way for syndicators and apartment owners to structure a business and walks us through the most common mistakes people make when it comes to asset protection. Listen in for Garrett's advice on what insurance you need as a real estate investor and learn what steps you can take to protect both your personal assets and property from lawsuits. For full episode show notes visit: http://www.themichaelblank.com/session332/

Garrett Sutton, Esq., a corporate legal specialist, joins us in today's episode to discuss entity laws and how to manage them. Keep on listening as he delivers the knowledge you need to strategically defend your assets against corporate liabilities and legal exposure so you can amplify your asset protection game today!WHAT YOU'LL LEARN FROM THIS EPISODE Smart ways to safeguard your assets from business attacksHow to use LLCs to lower your personal liability and risk of lawsuits Revocable trust vs. Irrevocable trustThe best places to set up your LLCWhy you should read “Veil Not Fail”RESOURCES/LINKS MENTIONEDRich Dad Poor Dad by Robert T. Kiyosaki | Paperback https://amzn.to/3zHbIqm and Kindle https://amzn.to/3bwlNy2Veil Not Fail by Garrett Sutton Esq. | Paperback https://amzn.to/3SurNIj and Kindle https://amzn.to/3QjAJOQAre you thinking about forming an LLC or a corporation? Schedule a free 15-minute consultation with an incorporating specialist at https://corporatedirect.com/ and get sound advice that considers your assets and state laws so you can protect your future and incorporate the right way!ABOUT GARRETT SUTTON, ESQ.Garrett Sutton, Esq. has been practicing corporate law for more than 35 years and has assisted entrepreneurs and real estate investors worldwide in protecting their assets and maximizing financial goals. He is a highly sought-after guest speaker and serves as a member of the elite group of “Rich Dad Advisors” for bestselling author Robert Kiyosaki. He is the author of the bestselling Rich Dad, Poor Dad wealth-building book series.CONNECT WITH GARRETTWebsite: Corporate Direct https://corporatedirect.com/YouTube: Garrett Sutton https://www.youtube.com/c/GarrettSuttonCONNECT WITH USGreen Light Equity Group - http://www.investwithgreenlight.com/For a list of Virtual Meetups - Email: tate@glequitygroup.com | chelsea@glequitygroup.com Special Announcement! Tate's brand-new audiobook “F.I.R.E.-Financial Independence Retire Early Through Apartment Investing” is downloadable! Go to: Green Light Equity Group: http://www.investwithgreenlight.com/.Do you have difficulty underwriting deals? Never worry about getting your numbers wrong with Real Estate Lab, a cloud-based platform for investors. Sign up at https://www.realestatelab.com/ using the promo code TAG2 to get 10% off your first 12 months. Automate your acquisitions and underwriting like a boss now!

The most overlooked facet of asset protection is actually one of the easiest! Jason Hartman invites Rich Dad Advisor Garrett Sutton to talk about the ongoing requirements to keep your corporation or LLC current in good standing. If you fail to follow these simple rules, a court can pierce through the corporation or LLC, also known as “the corporate veil,” and get at your personal assets. Garrett advises you to be aware of The Corporate Transparency Act and talks about his new book - Veil Not Fail: Protecting Your Personal Assets from Business Attacks. About Garrett Sutton, Esq. Garrett assists entrepreneurs and real estate investors from around the world to protect their assets and maximize their financial goals through sound management and asset protection strategies. Garrett is highly sought after as a guest speaker and serves as a member of the elite group of “Rich Dad Advisors” for bestselling author Robert Kiyosaki. Key Takeaways: 0:00 Join Empowered Investor Pro today!  1:35 Jason Hartman reports the latest housing inventory numbers 4:15 The Fed is trying to cool the market 4:49 Personal Banking, mortgage, syndication and 1031 exchange workshops 6:45 Welcome Garrett Sutton, Rich Dad Advisor, attorney and successful author  7:28 Keeping your corporation or LLC current in good standing 9:06 Piercing the corporate veil succeeds in 50% of all cases 13:15 Signing documents on behalf of the entity with your title 16:49 Paying fees to maintain your entity 17:41 Best states for asset protection and managing your LLC 21:52 How the Communist Party in SF almost got away with taking over private companies 24:09 Legal battles within families  26:00 The Corporate Transparency Act 28:02 Fraud and abuse with our current system 29:59 FBI, spying, privacy issues and banking regulations  32:39 Civil forfeiture 34:35 More regulations from Congress  37:44 New reporting rules for setting up an entity - what you must know  39:16 LLCs - S selection to be taxed as an S corp 41:15 Filing a C corp 41:59 Writing off health care premiums  44:17 Asset protection for a C corp 45:34 Asset protection laws 46:38 Get Garrett's new book - Veil Not Fail: Protecting Your Personal Assets from Business Attacks (Rich Dad Advisor Series)   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Learn More: JasonHartman.com Get wholesale real estate deals for investment or build a great business – Free course: JasonHartman.com/Deals Free White Paper on The Hartman Comparison Index™: HartmanIndex.com/white-paper Free Report on Pandemic Investing: PandemicInvesting.com Jason's TV Clips in Vimeo Free Class: CYA Protect Your Assets, Save Taxes & Estate Planning: JasonHartman.com/Protect Special Offer from Ron LeGrand: JasonHartman.com/Ron What do Jason's clients say? JasonHartmanTestimonials.com Contact our Investment Counselors at: www.JasonHartman.com Watch, subscribe and comment on Jason's videos on his official YouTube channel: YouTube.com/c/JasonHartmanRealEstate/videos Guided Visualization for Investors: JasonHartman.com/visualization Jason's videos in his other sites: JasonHartman.com/Rumble JasonHartman.com/Bitchute JasonHartman.com/Odysee Jason Hartman's Extra YouTube Channel Jason Hartman's Real Estate News and Technology (RENT) YouTube Channel

Garrett Sutton is a rich dad advisor and an attorney at law is dedicated to helping business owners protect their corporate veils from being pierced by numerous liabilities and lawsuits. Sutton has been a business owner for over 35 years, and with a background in law, he is an expert on the various legal formalities and how to protect corporate companies from unwarranted liabilities. In his most recent book, "Veil Not Fail," he discusses a wide range of difficulties and lessons learned as well as several methods and approaches for avoiding these mistakes. He shares his authenticity, honesty, and lessons learned from his experience in order to assist entrepreneurs in becoming familiar with and establishing themselves in the formalities of the law and effectively protecting their hard-earned businesses.     [00:01 – 06:30] Opening Segment Corporate entities with rich dad advisor, Garrett Sutton Garrett talks about his law background and how he ends up being a rich dad advisor Veil not stale by Garrett Sutton   [06:30 – 18:03] The First Steps of Creating Protection of Your Business Publicize yourself operating through an entity rather than your own Why you should choose LLC as your business entity State corporate laws and which state is best to choose Have an umbrella policy of insurance   [18:03 – 27:36] Strategies to Protect your Business Be educated on the formalities of the law Have a registered agent in the state where the company was formed Follow the formalities of state laws   [27:36 – 30:11] Closing Segment Quick break for our sponsors The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at escapingwallstreet.com What is the best investment you've ever made other than your education? Learning about tax liens Garrett's worst investment Investing in a publication called Sonoma monthly What is the most important lesson you've learned in business and investing? “You need to have the right partners on the team”   Connect with Garrett Sutton through corporatedirect.com/schedule. Grab your copy of Veil Not Fail.   Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/ Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms. Join our Passive Investor Club for access to passive commercial real estate investment opportunities. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes                   Resources cited Loopholes of real estate Tweetable Quotes: “You don't want anyone to think they're doing business with you personally.” – Garrett Sutton “You can't have a good business with a bad park, you know, you need to have the right partners on the team.” – Garrett Sutton “You can't run your LLC operations through your personal bank account, they're going to pierce the veil in that situation. – Garrett Sutton  

Garrett Sutton is an attorney, best-selling author and one of Robert Kiyosaki's Rich Dad Advisors. Garrett has over thirty-five years experience in assisting individuals and businesses to limit their liability, protect their assets, implement advantageous corporate structures and advance their financial goals. A clear and engaging writer, Garrett authors various books that demystify legal topics and presents them in an understandable and accessible manner.Garrett is the author of Start Your Own Corporation, Loopholes of Real Estate, Writing Winning Business Plans, Buying and Selling a Business, Run Your Own Corporation, The ABCs of Getting Out of Debt, Scam-Proof Your Assets, and his newest book, Veil Not Fail in the Rich Dad Advisor Series. Garrett is also the author of How to Use Limited Liability Companies and Limited Partnerships, Toxic Client, and Finance Your Own Business, which he co-authored with credit expert Gerri Detweiler. Garrett is the owner and operator of Corporate Direct and Sutton Law Center, which since 1990 has provided clients from around the world with asset protection and corporate formation and maintenance services. Robert Kiyosaki, the best-selling author of Rich Dad, Poor Dad calls Garrett and Corporate Direct "the premiere source for asset protection strategies." Garett attended Colorado College and the University of California at Berkeley, where he received a B.S. in Business Administration in 1975. He graduated with a J.D. in 1978 from Hastings Law, the University of California's law school in San Francisco. He has appeared in the Wall Street Journal, the New York Times, and various other publications. Garrett enjoys speaking on asset protection strategies and is a frequent lecturer for business groups and the Rich Dad Advisors educational series.We chat about:The need for asset protection - we live in a litigious societyPiercing the Corporate Veil The good, bad, and ugly entities - the importance of using the right one and how to decide between them allHis experiences and horror stories surrounding entity selection - a topic not taught in schoolLLCs vs Corporations for real estate - understanding the difference and knowing which one to chooseHis mission and work as author, including his books that are part of the best-selling Rich Dad, Poor Dad, wealth building book seriesLIKE • SHARE • JOIN • REVIEWWebsiteJoin the REI Mastermind Network on Locals!Apple PodcastsGoogle PodcastsYouTubeSpotifyStitcherDeezerFacebookTwitterInstagramSUPPORT THE

Garrett Sutton is an attorney, best-selling author and one of Robert Kiyosaki's Rich Dad Advisors. Garrett has over thirty-five years experience in assisting individuals and businesses to limit their liability, protect their assets, implement advantageous corporate structures and advance their financial goals. A clear and engaging writer, Garrett authors various books that demystify legal topics and presents them in an understandable and accessible manner. Garrett is the author of Start Your Own Corporation, Loopholes of Real Estate, Writing Winning Business Plans, Buying and Selling a Business, Run Your Own Corporation, The ABCs of Getting Out of Debt, Scam-Proof Your Assets, and his newest book, Veil Not Fail in the Rich Dad Advisor Series. Garrett is also the author of How to Use Limited Liability Companies and Limited Partnerships, Toxic Client, and Finance Your Own Business, which he co-authored with credit expert Gerri Detweiler. Garrett is the owner and operator of Corporate Direct and Sutton Law Center, which since 1990 has provided clients from around the world with asset protection and corporate formation and maintenance services. Robert Kiyosaki, the best-selling author of Rich Dad, Poor Dad calls Garrett and Corporate Direct "the premiere source for asset protection strategies." Garett attended Colorado College and the University of California at Berkeley, where he received a B.S. in Business Administration in 1975. He graduated with a J.D. in 1978 from Hastings Law, the University of California's law school in San Francisco. He has appeared in the Wall Street Journal, the New York Times, and various other publications. Garrett enjoys speaking on asset protection strategies and is a frequent lecturer for business groups and the Rich Dad Advisors educational series. We chat about: The need for asset protection - we live in a litigious society Piercing the Corporate Veil The good, bad, and ugly entities - the importance of using the right one and how to decide between them all His experiences and horror stories surrounding entity selection - a topic not taught in school LLCs vs Corporations for real estate - understanding the difference and knowing which one to choose His mission and work as author, including his books that are part of the best-selling Rich Dad, Poor Dad, wealth building book series LIKE • SHARE • JOIN • REVIEW http://reimastermind.net/ (Website) https://reimastermindnetwork.locals.com/ (Join the REI Mastermind Network on Locals!) https://podcasts.apple.com/us/podcast/rei-mastermind-network-real-estate-investing-strategies/id1227366661 (Apple Podcasts) https://podcasts.google.com/feed/aHR0cDovL3JlaXJvb2tpZXMubGlic3luLmNvbS9yc3M (Google Podcasts) https://www.youtube.com/channel/UC_6OpKSfSGvgGDG1qtBQw9Q (YouTube) https://open.spotify.com/show/4P66jm0Q4PMl7OoZzHMUUZ (Spotify) https://www.stitcher.com/show/rei-rookies (Stitcher) https://www.deezer.com/us/show/2148782 (Deezer) https://www.facebook.com/REIMastermindNet (Facebook) https://twitter.com/rei_mastermind (Twitter) https://www.instagram.com/reimastermindnet/ (Instagram) SUPPORT THE SHOW! Self Managing Your Rental Properties? https://app.rentredi.com/signUp/JCH191 (Get 6 months of RentRedi for $1! Click this link!) https://www.patreon.com/reimastermind (Get Exclusive Content on Patreon! • https://www.patreon.com/reimastermind) https://bit.ly/reiappsumo (Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo) https://drop.com/?referer=3DC729 (Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729) "You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Joe DiSanto semi-retired at age 43 and tells us how he did it. Welcome to Pillars of Wealth Creation, where we talk about building financial freedom with a special focus in business and Real Estate. Follow along as Todd Dexheimer interviews top entrepreneurs, investors, advisers and coaches. Joe DiSanto learned a valuable lesson growing up: If you don't deal with your money, your money will deal with you. From that point on, he made it his mission to learn everything he could about making smart money moves. It paid off. By age 30, Joe had wiped out $70K in student loans, bought his first house, and started a post-production company in Los Angeles. Over the next decade, the company grew to 30+ employees with over $5M in annual revenue, while producing two critically-acclaimed documentaries and an Emmy-winning HBO series. During this time, he and his wife also transacted on 15 residential and commercial real estate properties. After a successful 19-year run in L.A., they cashed out of the business and bought into small-town life on the Florida coast. Having semi-retired at age 43, Joe's efforts are now focused on his educational blog Play Louder, where he shares a lifetime of fiscal know-how to help individuals and business owners navigate their finances, increase their net worth, and plan better for their future. 3 Pillars 1. Financial prudency 2. Being business minded 3. Being investment focused Books: Rich Dad Poor Dad by Robert Kiyosaki, Loopholes of Real Estate by Garrett Sutton, and Tax-Free Wealth by Tom Wheelwright You can connect with Joe on LinkedIn, www.playlouder.com or joe@playlouder.com Interested in coaching? Schedule a call with Todd at www.coachwithdex.com Connect with Pillars Of Wealth Creation on Facebook: www.facebook.com/PillarsofWealthCreation/ Subscribe to our email list at www.pillarsofwealthcreation.com Subscribe to our YouTube channel: www.youtube.com/c/PillarsOfWealthCreation

Garrett Sutton is a corporate lawyer based in Reno Nevada. Garrett is famous as one of the Rich Dad advisors. His company corporate direct specializes in helping real estate investment companies with their corporate structures and maintenance of their corporate entities. He has a new book entitled "Veil Not Fail" which describes the pitfalls that can cause the corporate veil to be pierced thereby negating the limitations of liability that would otherwise be inherent in the corporate structure. You can get a copy of his new book on Amazon or wherever books are sold. To book a free 15 minute consultation with a paralegal, visit corporatedirect.com. ------------------ Host: Victor Menasce email: podcast@victorjm.com

In today's episode of Ritter on real estate we sit down with Garrett Sutton. Garrett is an attorney/best-selling author and one of Robert Kiyosaki's Rich Dad's Advisors. Garrett has over 35 years of experience assisting individuals and businesses in limiting their liability, protecting their assets, and implementing advantageous corporate structures. Garrett is the author of start your own Corporation, loopholes of Real Estate, Writing Business Plans, Buying and Selling a Business, and his most recent book Veil Not Fail.Garrett is the owner and operator of Corporate Direct and Sutton Law Center, since 1990 has provided clients from around the world with asset protection and corporate formation and maintenance services. Welcome to the show, Garrett! Key Points From The Episode: Garrett's upbringing, going to business and Law School.Getting to work with Robert Kiyosaki riding 8 books in the Rich Dad series.How Garrett became a Rich Dad Advisor.Defining asset protection -  think about litigation.Don't hold properties in your own name.Garrett explains inside and outside attacks to LLCs.The best states to hold LLCs in.Umbrella Insurance in why it's important.Why you're holding company should be in Wyoming.Garrett's new book Veil Not Fail. Corporate formalities and why they are important.How to choose the right entity for your real estate business.Why  C-corps and land trusts aren't good for owning real estate.Using LLC's for syndication/passive investors.Books Mentioned: Rich Dad, Poor Dad by Robert Kiyosaki & Veil Not Fail by Garrett Sutton, ESQ. 

“You DO care about what others think of you. That's your reputation.” -Keith Weinhold People care about your brand when you create value for them. Next, you must reach people. A construction worker in London decided that he wasn't where he was meant to be in life. He's our guest, Steve D. Sims. He started asking others why they were wealthy but he wasn't. A personal branding expert, Steve tells us why the right brand for you is the “authentic you”. When you meet someone, ask them about themselves. They are their own favorite subject. “A brand is what people say about you when you've left the room.” -Steve Sims Brands are either solution-based or aspirational. Every person has a brand. Donald Trump was well-branded because he had clear slogans like “Make America Great Again” and “Build A Wall”. The lesson? Be clear about who you are or what you stand for. It's OK to know what you're “not”. For example, I didn't know how to hire a COO for GRE and still don't have experience managing people. Resources mentioned: Show Notes: www.GetRichEducation.com/403 Steve Sims' website: https://www.stevedsims.com/ Get mortgage loans for investment property: RidgeLendingGroup.com or call 877-74-RIDGE JWB's available Florida income property: CashFlowAndGrowth.com To learn more about eQRPs: text “GRE” to 307-213-3475 or: eQRP.co By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel. Make passive income with apartment and other syndications: www.imaccredited.com Best Financial Education: GetRichEducation.com Get our free, wealth-building “Don't Quit Your Daydream Letter”: www.GetRichEducation.com/Letter Our YouTube Channel: www.youtube.com/c/GetRichEducation Top Properties & Providers: GREmarketplace.com Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Partial transcript:Welcome to GRE! I'm your host, Keith Weinhold. There's so much to pack into one show today - inflation at its highest rate in over 40 years, the Fed raising interest rates the most in 28 years, rents are going up fast, then GRE's COO Aundrea Newbern & I on our favorite REI resources. Today, on Get Rich Education.   _______________________   Welcome to GRE! I'm your host, Keith Weinhold.   When it comes to developing your personal brand to it's highest potential, what are those traps you might be falling into that have prevented you from doing so. And…   There was once a construction worker in London and one day he realized that this just wasn't where he was meant to be in life.    He contributes to the personal brand discussion today too… on this week's episode of Get Rich Education. ______________   Welcome to GRE! From Franklin, MA to Franklin, TN and across 188 nations worldwide… I'm Keith Weinhold.    With more than 4 million listens, though you're tuned into one of America's longest-running and most listened-to real estate shows, today, it's about how to develop your personal brand which applies most anywhere.   There are a few definitions of a brand. A more strict one is that a brand is an intangible marketing or business concept that helps people identify a company, product, or individual.   OK, I guess that's pretty good. Another definition of a brand I've heard that I like is: “Your unique promise kept over time.” That's what a brand is.   A big part of keeping promises is doing what you say you're going to do. Therefore, it's a commitment.   In my mind, a big part of that is keeping your appointments.    If I'm going to collaborate with someone and we have a pre-determined date & time, I put that on my calendar and I would not change that commitment unless some inordinate or unusual circumstance came up.   That person trusted me with their time and I trusted them with my time. If someone tells me later that they'd like to re-schedule with me, well, often I don't do it.    With all the choices I have for spending my time, their wavering commitment doesn't really reflect so well on their personal brand.   Also, other people would have liked to have that time with me & they couldn't get it because I already committed it to that person that wanted to cancel or postpone.   People that have their act together, well-branded people, commit and show up on time.   I'll give you an example of a well-branded person that keeps commitments - whether you like him or not, in my experience, that is, yep, Rich Dad, Poor Dad author Robert Kiyosaki.   Robert & I have done a bunch of collaborations in the past, I used to be a writer for the Rich Dad Advisors, he's been a guest right here with us on the GRE Podcast four times.   Not once have we tried to re-schedule or cancel an appointment on each other.    Even if we plan something a month in advance, we keep it. We don't have to send each other reminders. It was put on our calendar at the time we made the appointment, so what more do you need?   And you wonder why that guy is so successful. Well, one reason could be that he keeps commitments.    Now, when it comes to your personal brand - which includes your belief systems, your values, commitment levels, there's one thing that some people need to “get over” - and I think that Hal Elrod & I touched on this here on the show 3 weeks ago.   It's this myth. There are people that brashly say, “Hey, I don't care about what other people think of me.”    Oh, that's wrong. You do too care about what other people think. Because that's your reputation.    It can be interesting to see the person that says they didn't care about what other people think, say, have a fake social media account made up impersonating their likeness and embarrassing them.   You had better believe that person that said they don't care about what other people think… frantically tries to point out that, “Hey, I don't want you thinking that was me over there spamming you.” Someone is impersonating my account.    “Oh, well didn't you just say that you don't care about what other people think?” See you did care… and you should. That's your reputation.   What if you own a restaurant & people leave negative reviews about your business & you as a businessperson, you care.   DO CARE… about what others think. That's honesty. But yeah, don't care too much.    People will care about your brand when they know that you can bring them value. When you start with creating value first, second is how are you going to reach people, and then thirdly, it's how are you going to create income.   It's value, reach, then income. 1-2-3   I'm reaching you right now with this show. In fact, there was a time, between 5 & 10 years ago, that even by having a show like this, one could create value, reach, and income.   For new entrants, those days are gone. The podcast landscape became saturated a few years ago and it's almost impossible to get substantial reach today.    For startups today, a podcast is a lot like a website was 20 years ago.   Neither one stands out just by virtue of having one.    You can have a website just like you can have a podcast, but anymore, how would you ever get enough website visitors to make a difference or how would you attract enough podcast listeners to make a difference.   Even celebrities that have name brand recognition that have crossed over and started podcasts usually don't get much traction anymore. They are drowned out in a saturated field.   So if you want your brand to reach people today, well, that's a really long discussion and this isn't a marketing show. So I'd start with just two pieces of guidance:   #1 - Look for that new media source that isn't crowded today. It might be that “next” media type. For a while, people thought that it might be voice-activated media like Alexa or Siri. I don't really know that that's getting traction like some thought. But that's the way to be thinking. “What's next?”   Secondly, if you know of a thought leader that wants to get their message out with a podcast today, rather than starting their own show and entering a crowded field… gosh, starting your own show, you could spin your wheels with many episodes and unlike a website that doesn't need to be constantly updated…   … a podcast takes regular releases, and production, advertising, sound engineering and marketing, transcription, and a support network of complimentary resources from video to social media and more.   Well, I've got a great shortcut to that… in the podcasting world that will save you a lot of time, money, and frustration.   If you know someone that wants to get their message out through a podcast today, the big shortcut is to be a guest on another show that already has a big following.   That way, you've outsourced all of the production and marketing and everything else to a proven channel. That can save you hundreds or thousands of hours in your life.   Rather than starting a podcast, be a guest on a few big name shows.   Now that you know how you're going to provide value to the world, you've got your reach too.   Hey, I've got more thoughts like this for you on building your personal brand. Before I share those, let's talk to today's remarkable guest on how to build your personal brand. ___________   Oh, yeah, a really interesting interview with Steve Sims today.   One thing we discussed is that you can't snap your fingers and instantly make yourself someone that you're not. It's about gradually being who you are becoming.   Now, here at GRE, our show keeps growing and about two years ago, I needed to make a new key hire to run the internal operations here so that I could have enough time clear to make the best content for you every week.   But, gosh, I really didn't know how to make a quality hire here - like, to bring in an experienced pro.   Realizing I didn't even know how to hire someone, I looked around my network of people… and I knew that Ken McElroy had employed a Hiring Manager, Jennifer, to help him and I tapped her so that Jennifer could find a COO for GRE.    Jennifer & I worked on the position advertisement, she interviewed the top candidates, narrowed it down to three, and Aundrea was selected.   Then I got Garrett Sutton to help me write the work contract.   So, I had acknowledged that hiring a top pro was beyond my skillset.   And Aundrea is such a professional here - she has her MBA too - that when GRE added more staff later, she's the one that does the interviewing - not me.   And then… continuing in this vein of, “Don't pretend to be someone you're not.”   When we make a new hire here at GRE, I don't pretend like I have some lofty corporate experience at knowing how to run things around here.   When I first talk to that new hire here, I simply tell them the truth. I say something like:   “I found myself with a show here that a lot of people seem to like to listen to… but don't have any experience managing people. So I really want you to feel comfortable in speaking up when you think I could be doing something better.” Yeah, I tell everyone something like that.   Alright, well, what did that just do when I told them this?    First, it's honesty. It makes me more comfortable It made the new hire more comfortable And finally, I'm not pretending to be someone that I'm not. When I was in the working world, I didn't climb up the corporate ladder. I didn't get that corporate experience. Instead, I decided to leave that world behind.   Steve made a terrific point at the end about brand clarity - being clear on what your brand stands for - whether that's your personal brand or your company's brand.   I told you near the start of the show that commitment & respecting other people's time is a big part of my personal brand. Certainly, attention to detail too.   GRE's brand clarity is in four words: Real Estate Financial Freedom. Those four words tell you where you & I are going together & how you're getting there too.   Once you're in the GRE world and tribe, then we can get more nuanced, for example, with our strategy and brand of “FF beats DF”. And with that, you see how “RE FF” is achieved faster.   I sign off each show with “Don't Quit Your Daydream” and it's a trademark that we own here at GRE.   So the point is, be clear and memorable in order to have a successful brand for yourself.   This doesn't have to be that well-developed and you don't have to have terms trademarked to have a strong brand.   Juan, my landscaper wacks all the weeds along my fence and doesn't leave any clippings behind. I can see that his brand was there - imprinted in my backyard.   Speaking of some other well-branded real estate figures, if you want to listen to Grant Cardone & I together here on the show, where we 10X your wealth together, he was with us on Episode 264.   Robert Kiyosaki's latest appearance here on GRE was last year. You will find he & I together most recently on Episode 358.    As far as today's chat, you might be interested in SEEING Steve Sims & I's chat from today other than just listening to the audio here. It might help reinforce some of these branding concept for you.   He's also just a really interesting figure to see and listen to. You can do that on your YouTube Channel… which is really easy to find and remember… because we're - I suppose - consistently-branded - ha!   That's because our YouTube Channel is called “Get Rich Education”. I'd expect that video to be published there by about now.   Personal branding means that there is… perhaps… a better investment than leveraged income property.   That investment… is YOU.   Until next week, I'm your host, Keith Weinhold. Don't Quit Your Daydream!  

Your real estate assets may be at serious risk of litigation. Learn how best to protect yourself and your assets in today's episode with Garrett Sutton. Welcome to Pillars of Wealth Creation, where we talk about building financial freedom with a special focus in business and Real Estate. Follow along as Todd Dexheimer interviews top entrepreneurs, investors, advisers and coaches. Garrett Sutton is an attorney, best-selling author, and one of Robert Kiyosaki's Rich Dad Advisors. Garrett has over 35 years of experience in assisting individuals with businesses to limit their liability, protect their assets, implement advantageous corporate structures, and advance their financial goals. He is the author of Start Your Own Corporation, Loopholes of Real Estate, Writing Winning Business Plans, Buying and Selling a Business, Run Your Own Corporation, The ABCs of Getting Out of Debt, Scam-proof Your Assets, and his new book Veil Not Fail in the Rich Dad Advisor Series. 3 Pillars 1. Mindset 2. Real estate 3. Creativity Book: Rich Dad Poor Dad by Robert Kiyosaki You can connect with Garrett at www.corporatedirect.com Interested in coaching? Schedule a call with Todd at www.coachwithdex.com Connect with Pillars Of Wealth Creation on Facebook: www.facebook.com/PillarsofWealthCreation/ Subscribe to our email list at www.pillarsofwealthcreation.com Subscribe to our YouTube channel: www.youtube.com/c/PillarsOfWealthCreation

In this episode of Purpose-Driven Wealth, your host Mo Bina talks with Garrett Sutton about the many strategies investors and entrepreneurs can take to protect their assets. To be able to protect your assets, one should know what to protect them from. Here, Garrett explains how inside and outside attacks affect your LLC, the line of defense your LLC can have, what Garrett tackles in his upcoming book, VEIL NOT FAIL, and much more. In this episode you will learn: Garrett Sutton on being a part of Rich Dad Advisors Group Why do you need an LLC? Not transferring the title to your LLC is a mistake If Delaware is the 1st state for LLCs, Wyoming is the 1st state for blockchain and crypto tech What to expect from the book, VEIL NOT FAIL and so much more! About Garrett Sutton:   Garrett Sutton is a corporate attorney, asset protection expert and best selling author who has sold more than a million books to guide entrepreneurs and investors.   For more than 30 years, Garrett Sutton has run his practice assisting entrepreneurs and real estate investors in protecting their assets and maximizing their financial goals through sound management and asset protection strategies. The companies he founded, Corporate Direct and Sutton Law Center, currently help more than 13,000 clients protect their assets and incorporate their businesses.   Garrett also serves as a member of the elite group of “Rich Dad Advisors” for bestselling author Robert Kiyosaki. A number of the books Garrett Sutton has authored are part of the bestselling Rich Dad, Poor Dad wealth-building book series. Garrett enjoys speaking with entrepreneurs and real estate investors on the advantages of forming business entities. He is a frequent lecturer for small business groups as well as the Rich Dad Advisors series.   Garrett attended Colorado College and the University of California, Berkeley, where he received a B.S. in Business Administration in 1975. He graduated with a J.D. in 1978 from Hastings College of Law, the University of California's law school in San Francisco. Garrett is licensed in Nevada and California.   Garrett is a member of the State Bar of Nevada, the State Bar of California, and the American Bar Association. He has written numerous professional articles and has served on the Publication Committee of the State Bar of Nevada. Additionally, He has appeared in the Wall Street Journal, Credit.com and other publications.   He serves on the boards of The American Baseball Foundation, based in Birmingham, Alabama and The Nevada Museum of Art and Sierra Kids Foundation, both based in Reno, Nevada. Garrett has been recognized as a Lifetime Achievement Member by America's Top 100 Attorneys.   Follow Garrett Sutton on:   Website:          https://corporatedirect.com   Schedule a free 15-minute consultation with an Incorporating Specialist (not with Garrett, but with one of his paralegals): https://corporatedirect.com/schedule Link to RDA Press website where "Veil Not Fail" ebook will be available (all of Garrett's other Rich Dad books are available here as well) https://rda-press.com Amazon pre-order link for "Veil Not Fail" print version: https://amzn.to/3LgW9JU   Connect with Mo Bina on:   Website:          https://www.high-risecapital.com/ Medium:          https://mobina.medium.com/   For more information on passive investing in commercial real estate, please check out our free eBook — More Doors, More Profits — by clicking here: https://www.high-risecapital.com/resources-index      

Before you jump into growing your landscaping business, why is it so crucial to acquire insurance? I remember getting into a car accident in 2007. It was indeed traumatic for me. In addition, I was sued because my insurance had expired days before the accident. Since then, I have taken it upon myself to learn all about insurance and its policies. The reality of getting sued, having to shut down a business, and losing everything in a snap isn't something anyone dreams about when running a business. Though I'm not an insurance guy, nor do I have a multimillion-dollar company, I care about you and want you to succeed. So join me today as I share with you why you should get insurance before doing business.   “Before you go out and start spending money and financing things and taking your business to the next level, make sure you get properly insured and go get the proper advice, and go find all the things that you need to do and start leaning in that direction, working on those things ASAP. Run towards it like your hair's on fire.”  – Keith Kalfas   Why do you have to listen to today's episode.   00:59 – Being properly insured is a must in running a business. Tune in to understand why. 01:51 – Back in 2007, I got involved in a car accident. It was traumatic, having my insurance expired days before what happened.  03:19 – Remember: You are exposing yourself to potentially unlimited liability by not being properly insured. 06:50 – Lesson learned: Before you take your business to the next level, make sure you learn everything you can about properly running a business.   Key Takeaways   “All I know is that if there's some type of accident and you're not properly insured, you will get the book thrown at you so hard, and there will be massive repercussions and consequences for not having insurance.” “You should have insurance on your truck, and definitely, don't let anybody drive your truck unless they're insured and listed on the policy.” “The level of risk that you're running by not being properly insured, you are exposing yourself to potentially unlimited liability.”    Connect with Keith   Facebook Instagram  YouTube LinkedIn Website   Resources/People Mentioned: My Website: Official Site Keith Kalfas My Podcast Page: The UNTRAPPED Podcast  Garrett Sutton x Robert Kiyosaki: Own Your Own Corporation Mike Michalowicz's book: Profit First Get a Free Trial of JOBBER Software & save 20% off your first 6 months. Grow Your Business With Jobber (getjobber.com) Maximize your production in the field with Ballard Products. Don't forget to use Keith's promo code “Keith 10” and save 10% off of anything in the online store. Try Jill's office today and get a $25 discount when you type/say untrapped. Go to Jill's office.com. Please leave us a well-written, positive 5-star review if you liked the show. You may click here.  

You're putting yourself and your investments at risk if you're a stranger to the law. Understanding legal terms and issues will be easier for you as Garrett Sutton shares his knowledge and experiences for decades on how to protect your assets and start investing in real estate by abiding by the law with awareness and caution. Stay tuned! Key takeaways to listen for  When should you set up a separate entity when investing? The purpose and value of the corporate veil Impact of the Corporate Transparency Act (CTA) regulations Vital function of registered agents and why you should get one Resources mentioned in this episode Veil Not Fail by Garrett Sutton | Ebook   About Garrett Sutton Garett Sutton is an attorney, best-selling author, and one of Robert Kiyosaki's Rich Dad Advisors. Garrett has over thirty-five years of experience in assisting individuals and businesses to limit their liability, protect their assets, implement advantageous corporate structures and advance their financial goals. A clear and engaging writer, Garrett authors various books that demystify legal topics and presents them in an understandable and accessible manner. Garrett is the author of Start Your Own Corporation, Loopholes of Real Estate, Writing Winning Business Plans, Buying and Selling a Business, Run Your Own Corporation, The ABCs of Getting Out of Debt, Scam-Proof Your Assets, and his newest book, Veil Not Fail in the Rich Dad Advisor Series. Garrett is also the author of How to Use Limited Liability Companies and Limited Partnerships, Toxic Client, and Finance Your Own Business, which he co-authored with credit expert Gerri Detweiler. Garrett is the owner and operator of Corporate Direct and Sutton Law Center, which since 1990 has provided clients from around the world with asset protection and corporate formation and maintenance services. Robert Kiyosaki, the best-selling author of Rich Dad, Poor Dad calls Garrett and Corporate Direct “the premiere source for asset protection strategies.” Garett attended Colorado College and the University of California at Berkeley, where he received a B.S. in Business Administration in 1975. He graduated with a J.D. in 1978 from Hastings Law, the University of California's law school in San Francisco. He has appeared in the Wall Street Journal, the New York Times, and various other publications. Garrett enjoys speaking on asset protection strategies and is a frequent lecturer for business groups and the Rich Dad Advisors educational series. Garrett serves on the boards of the American Baseball Foundation, located in Birmingham, Alabama, and the Reno, Nevada-based Sierra Kids Foundation and Nevada Museum of Art. Connect with Garrett Website: Corporate Direct Facebook: Corporate Direct & Sutton Law Center Twitter: @GarrettSutton LinkedIn: Garret Sutton YouTube: Garrett Sutton Phone: 800-600-1760   Connect with Us To learn more about partnering with us, visit our website at https://javierhinojo.com/ and www.allstatescapitalgroup.com, or send an email to admin@allstateseg.com.  Sign up to get our Free Apartment Due Diligence Checklist Template and Multifamily Calculator by visiting https://javierhinojo.com/free-tools/. To join Javier's Mastermind, go to https://javierhinojo.com/mastermind/ and to apply to his BDB Mastermind, see https://javierhinojo.com/mastermind/#apply_form and answer the form. Follow Me on Social Media Facebook: Javier A Hinojo Jr. Facebook Group: Billion Dollar Multifamily and Commercial Real Estate YouTube Channel: Javier Hinojo Instagram: @javierhinojojr TikTok: @javierhinojojr Twitter: @JavierHinojoJr

As the economy worsens, Robert Kiyosaki suspects that lawsuits will increase. Today's guest says in times of stress, litigation goes up and he advises our listeners who are entrepreneurs to increase their asset protection. Garrett Sutton, Rich Dad Advisor and author of the book Veil Not Fail says, “People set it up online, and they don't know they have ongoing formalities, and they learn the hard way.” In 50% of all cases, people are able to pierce through the corporate veil and get at your personal assets. Host Robert Kiyosaki and guest host Blair Singer are joined by guest Garrett Sutton to discuss the #1 mistake entrepreneurs make and how to avoid it.