What is Wealthy Landlords Margin of Saftey Strategy?
I want to be a landlord,but with all the problems today such as getting sued by tenants,enviromental issues,and the list goes on.How do wealthy landlords protect their investments,and keep wealth,and from such problems?I was at a RE seminar, they said the best strategy is don't have your name on none of the property's.
In order to not get sued,and nor having getting tax like no other by the govt.They stated file your business as a coporation to take advantage of the tax ductions.Then Form a "Family Liability Partnership",and you make your coporation as a partner.To keep yourself seperated from such law suits,and such.Also do this chairaty thing,in order to not get capital gain tax.
Another thing I'm asking is before you buy any property for a rental investment.What's your margin of safety strategy you use on all property's that will give you indicators to buy the property or not? Basically the simple question I'm asking is what is the best defence out there?