5 Most Common Mistakes with Asset Protection You’re Probably Making

Protecting your assets is one of the most important things a real estate investor can do. And ready-made options don’t work. Asset protection really does keep you and your investments safe, so you can’t ignore the threat. We’ve asked our friends at Estill & Long, LLC to help us count down the 5 most common…

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Why You Should Consider STRIP?-ing!

We promise it’s not what you think it is… A diverse retirement plan can be difficult to create, especially when you want your money to do more than sit around waiting for you to hit 65. And with traditional retirement plans you’ve got very little control over where your money is being invested. This passive…

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Six Important Tips to Stop Theft & Property Damage

Theft is a PROBLEM, and it may rob you of the ability to insure your investments. Theft claims are affecting all of us, and your help is vital. Consistent thievery is threatening our industry’s ability to provide theft coverage. Every other day we receive a theft claim large enough to cause headaches for you and…

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Insurance...Is This Really That Difficult?

As consumers, let alone real estate investors, we tend to flinch whenever the insurance bill arrives. Many times, for good reason: rates are higher, coverages seem to diminish, and for what? We have never even filed a claim! However, if we stop thinking of our insurance policies as just another drain on our cash-flow, and more as a legitimate part of our business plan, that premium notice may be a little bit easier to open...

Most of us consider insurance as a “purchasing endeavor”. That is, we either buy it, or it is sold to us. There, in my opinion, is the foundational fault of the process. The misconception is still prevalent: insurance is mysterious, difficult to understand, and, at best we hope we can trust the person that is selling it to us. We buy it, because we “have to have it”:... As a licensed “agent” in over 40 states, I cringe whenever I hear the word “quote”. Not that getting the best rate for appropriate coverage shouldn't be our goal, but “quoting” in many situations tends to lead to an inadequate transaction between seller (the agent) and end-user (the policyholder) because the agenda for the agent may not fit the needs of the customer (or, as I prefer, client). Please do not misconstrue this as a generalization that all insurance agents are inherently indifferent, or less than legitimate. The attitude that insurance should be treated as a commodity can be blamed on the industry itself, who, as a knee-jerk reaction and effort to grow market share, seem to not really understand the needs of the public. Their Contact us to save $XXX on your Coverage advertising campaigns reinforce the public attitude that insurance is a “one size fits all” industry and getting the lowest rate makes the most sense. Unfortunately, when you really need it, this planning, or lack thereof, has hurt more consumers than it has ever helped.

Too many of us, when building our real estate investing portfolios, consider our insurance program as an afterthought. Those of us who do understand some of its value, may not fully comprehend its place in our business plan/model. I consistently receive calls and emails from people who ask if I think an LLC, an S-Corporation, a Land Trust, or any other entity created to buy/own real estate is the best option over another for them. These bevy of inquiries bolster my theory that the right advice is still not promulgated in our industries (insurance AND real estate investing) to a sufficient and/or acceptable degree. Contrary to popular opinion, insurance should not be the foundation of an asset protection strategy. Think of your assets, whether personal or business, as the items within your castle that you desire to protect. The legal entities that you create, with the advice and assi stance of a legal professional, are the castle walls, the moat, and the watchtower you build to help protect them. What you choose to create is a summation of the needs and issues in which tax, financial, and even estate planning must be taken into consideration. Acknowledge that insurance is the archer in the watch tower, or the knights with the boiling oil, that attempt to keep nasty things like liability claims, fire, windstorms and other catastrophes at bay. We all know insurance does not cover everything. The list of exclusions in most policies is more than a paragraph. Likewise, the archer does not hit every target. That stated, the archer and knights (insurance) need to work in conjunction the walls and the moats legal entities) to appropriately protect your “stuff”. Protecting your assets is more complex than simply finding the cheapest insurance rate.


EPA Launches New Mapping Tool to Improve Public Access

EPA Launches New Mapping Tool to Improve Public Access to Enforcement Information / Mapping feature supports the White House Regulatory Compliance Transparency Initiative and improves public access to information Release date: 09/30/2011 Contact Information: Stacy Kika (News Media Only), kika.stacy@epa.gov, 202-564-0906, 202-564-4355 WASHINGTON – The U.S. Environmental Protection Agency (EPA) today announced the release of...


NEW Communciation Tool To Stay Updated On The RRP Law

In an effort to enhance outreach and communication, EPA will soon begin to use a new communication tool, called GovDelivery, to disseminate information and updates about the Lead Renovation, Repair and Painting (RRP) program.  We plan to begin sending out messages using this new tool within the next week and we invite you to sign...