Hello

I currently have 5 properties in Texas under my name. I am looking to start a side business unrelated to real estate. This will require investors and is high risk.

What options do I have to protect my 5 properties and isolate them from any risk that my new venture would bring?

I thought about moving them to an LLC, but one lender said they could call back the loan and my other two said my interest rate would be higher and it would eat a lot of my cashflow.

Has anyone worked with an asset protection lawyer? Maybe insurance?

Thanks for any feedback

@Alvaro Rodriguez

We have an asset protection plan that we setup a while back with our attorney; it is a little in-depth. DM me and I will explain what we did and what it cost.

Hi @Alvaro Rodriguez - I definitely recommend speaking with an attorney who specializes in asset protection.

@Charles Carillo

Thank you. I sent you a DM

@Zev J.

You are right, that’s what I was thinking to do. Thank you

With 5 properties, you have a lot of options. Depending on your leverage, I'd say that you should go blanket commercial and accept a higher rate (if at all given the discount for volume).

Your other business should be siloed in an LLC as well. Standard rules about co mingling, accounting, meeting minutes, etc. all apply. Happy to chat after you get a voucher from Charles :)