Asset protection for a beginner

5 Replies

Hi everyone,

I will be buying my first investment home in Kansas City and will have another on the way in a month or so. I have heard a lot of different opinions on how to protect your properties. I live in CA and don't want to pay $800 a year for an LLC (especially for only two homes). I am thinking of doing an umbrella policy to start? Any help/suggestions for a newbie?

Much appreciated! 

@Kevin Hoff

If you want the highest protection buy the property in a land trust through a self directed IRA and make your beneficiary your LLC and the trustee somebody outside the state. It's a bit complicated to setup but wow the tenants attorney will have a nightmare trying to even figure out who actually owns the place much less how to litigate it lol

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