In our fourth webinar in a series exploring the impact of COVID-19 on landlords, Zibo CEO Chris Hsu hosted The Real Estate Investor's Lawyer Jeffrey Lerman to discuss how to protect your real estate assets during an economic downturn. Watch the replay here.
Some key insights from this webinar:
- Legal entities can create asset protection for real estate investments and provide litigation deterrence. Insurance is not a litigation deterrence—it actually incentivizes the litigants to sue for insurance money.
- Investors must take action to create legal protection before they are sued. A legal entity that is created after the initiation of a legal action will not provide protection for that suit due the Uniform Fraudulent Transfers Act.
- Even if landlords have created asset protection, they must still take the appropriate actions to main the corporate veil and keep their entity in compliance. Each legal entity should have its own bank account to avoid commingling funds.
- Having proper asset protection is a competitive advantage. No team can win without an effective offense and defense.
Join us next week for another free webinar on Thursday, May 21 at 9am PT / 12pm ET. We'll discuss how to manage and invest in real estate during the COVID-19 economic recession with Bigger Pockets Business Podcast host J Scott.
These free webinars are part of the Zibo series "Helping Landlords Navigate the Impact of COVID-19." As the current health crisis takes its toll on the economy, independent landlords across the U.S. are wondering how they’ll make their next mortgage payment and navigate this uncertain time. We hope these free weekly webinars provide the opportunity for landlords to have candid conversations with other members of the real estate community, learn best practices from experts, and apply strategies to stay afloat during these unprecedented challenges.