How to Prevent 5 Expensive Real Estate Scenarios - Advice from my Attorney

⭐ Join Rental Property Mastery, my coaching & learning community:
www.coachcarson.com/RPM-YT
🎙️ Episode 281 - Learn the worst-case scenarios of investing in real estate during this conversation between Coach Carson and his attorney.
📄 Show Notes: www.coachcarson.com/worstscen...
🎬 Timestamps:
0:00 - The best protection
4:18 - Accident to railroad to REI
9:13 - #1 Tenant lawsuit
30:37 - #2 - Contractor lawsuit
37:49 - #3 Foreclosure
47:40 - #4 Bankruptcy
51:36 - #5 Title defects
1:05:58 - Ways to avoid risks
1:07:43 - How to find Ryan
🔗 Connect with Ryan:
• Website: nelsongalbreath.com/about/rya...
• Email: [e-mail]
• Facebook: / wrnicho
--------------------------
⚒️ Get my FREE Real Estate Investor Toolkit:
www.coachcarson.com/toolkit-yt/
🖥️ My Real Estate Courses: courses.coachcarson.com
• 30 Days to a Better Rental Investor
• Creative Financing for Real Estate Investors
📚 My Books:
📘 The Small & Mighty Real Estate Investor: www.coachcarson.com/smallandm...
📙 Retire Early with Real Estate: www.coachcarson.com/retiremen...
💰 DealMachine - Software to help you buy more real estate deals:
www.coachcarson.com/dealmachi...
✅ Subscribe for more videos about real estate investing:
th-cam.com/users/CoachCha...
👋 Connect with me:
/ coachchadcarson
/ coachchadcarson
/ coachchadcarson
🌐 For everything else: www.CoachCarson.com

[@robhemmerle643]

Loved every bit of this. Rarely does anyone get into this side that I love to learn about. So many podcasts are just about getting started but once you are in it, this is exactly what you need to learn.

[@CoachChadCarson]

Thanks for the feedback Rob! That's what I'm going for. The deeper details.

[@aao449]

Fantastic video!!👏👏
Highly valuable information.
Get a good real estate attorney!

[@xolofimusic]

Loved the information. Took plenty notes. Thx

[@CoachChadCarson]

Great to hear! Thanks for watching!

[@chadhaugen-leathertech4848]

We made an LLC for our own prop management and we even charge ourselves a management fee, every quarter we get a distribution and if there is profit this goes into a separate account for us to use if we want.
The properties are in our personal names, so this will be the next step. We like taking rent using the business and managing it like a business.

[@shumatsuopost]

Interesting insights on potential worst-case scenarios for real estate investors. It's important to be aware of these risks and take steps to mitigate them.

[@laurasamaniego5937]

Couch Carson, great content! Most people on TH-cam talk about how to start and how to adding more properties but you are the only one that talks about how to protect it once you acquired it.
Thanks so much.

[@CoachChadCarson]

glad to hear that! More and more I've found the same thing. Buying a property is just the start! Now you have to figure out all the other details (so more content coming on THAT)

[@anthonyj.4756]

As a contractor, we’ve had building management companies request the COi, but WCI was required only if more than person would be working on the property. Another provided a WCI waiver. Any thoughts on that?

[@jessescott3558]

Excellent work

[@mcanultymichelle]

Very helpful 🙏

[@thejohnbeck]

Before he was spelling his email, I thought he meant Maine, "that's a brave choice in the south", but then he spelled it.

[@jimmypritchard5991]

Thank you Coach I've been looking for lawyer.

[@CoachChadCarson]

Good luck with your search!

[@davidkazakov6232]

Very interesting content as always! Quick question - time to invest to new headphones? They dont look cool 🙂

[@CoachChadCarson]

Ha. True. Left my good ones in US when I came to Spain.

[@supoashafa]

How does Tenant's Rental Insurance protect the Landlord?

[@CoachChadCarson]

I had a tenant caused fire (accident, left stove on) and their insurance paid for damage. No deductible for me or issues with my insurance not renewing after claims

[@besreal3419]

Should my primary residence be in an LLC? I didn't want my name in the searchable pubic record because my ex's enjoy sabotaging women's success. But now realizing if my residence is in the LLC, I could lose it if the company gets sued. How easy is to sell an LLC property or transfer them to my heirs? How do I prove to a realtor that I'm the owner of an LLC property?

[@CoachChadCarson]

It's a good question about residence in an LLC. I don't know. I've not seen anyone do it but doesn't mean you can't.
More commonly I have seen people use a form of trust to hold title and keep privacy.. basically your trustee owns the property for you and that's kept private. You can talk to attorneys who specialize in trusts to give you better details.

[@jsisbeingcensored]

Hold no harm clause. Boom

[@clemryanson]

The SC Landlord Tenant Act (and I imagine similar Acts enacted in other states) explicitly prohibits indemnification (or hold harmless) provisions in residential lease agreements. See S.C. Code 27-40-33(a)(3) ("(a) A rental agreement may not provide that the tenant: ... (3) agrees to the exculpation or limitation of any liability of the landlord arising under law or to indemnify the landlord for that liability or the costs connected therewith.). This does not apply to commercial leases, however. Indemnification provisions are extremely common in commercial leasing.