Protect Your Real Estate Empire - What No One Told Me (But Should Have) | Scott Royal Smith

In today's episode, we're thrilled to have a conversation with Scott Royal Smith, founder and CEO of Royal Legal Solutions, a firm that helps real estate investors properly structure their businesses and assets. With over a decade of experience, Scott is an expert in LLCs, asset protection strategies, and tax optimization. Real estate investors are open targets for many - renters, contractors, and tax collectors. In this episode, we discuss asset protection strategies for real estate investors, including how to properly structure LLCs and use a series LLC to compartmentalize different properties. Additionally, we learn about tax strategies like using a series LLC to separate active and passive income as he shared lessons from building his own business over the past 10 years and how focusing on financial freedom allowed him to pursue passions like traveling and meditation retreats. Scott has build an awesome business with a fantastic understanding of tax planning and how to structure real estate entities. So much so, that he recorded this episode during a yoga retreat! Things we discussed in this episode: How Scott built a portfolio of cash-flowing properties that allowed him to "retire" in his 30s The crucial asset protection strategy that saved a friend $3 million in a lawsuit  Separating active and passive income streams for maximum tax benefits Using a series LLC strategy to legally compartmentalize different investment properties   The importance of charging order protection for LLCs formed in certain states How to anonymously own rental properties through land trusts Strategies for preserving wealth against any future lawsuits or claims Tips for accelerating the process of gaining financial independence How focusing on freedom rather than stuff leads to a happier lifestyle Lessons from building a successful business while traveling the world Get in touch with Scott: Instagram - https://www.instagram.com/royal.legal.solutions/ Website - https://royallegalsolutions.com YouTube - https://www.youtube.com/@RoyalLegalSolutions Join Jason Muth of Straightforward Short-Term Rentals and Attorney / Broker Rory Gill of NextHome Titletown and UrbanVillage Legal in Boston, Massachusetts for another episode of The Real Estate Law Podcast! #realestatepodcast #nexthome #humansoverhouses #realestate #realestateinvesting #realestateinvestor #realestatelaw #realestateagent #realestateinvesting #riskmanagement #assetprotection #llcs #serialllc #taxstrategies #financialfreedom #entrepreneurship #mindset #retirementplanning #wealthbuilding #passiveincome #investingtips #businessstructures Follow us! Following and subscribing to The Real Estate Law Podcast not only ensures that you'll get instant updates whenever we release a new episode, but it also helps us reach more people who could benefit from the valuable content that we provide. The Real Estate Law Podcast on Instagram and YouTube NextHome Titletown Real Estate on Facebook and LinkedIn Straightforward Short-Term Rentals on Instagram Attorney Rory Gill on LinkedIn Jason Muth on LinkedIn Help us Spread the Word If you've found our podcast helpful, entertaining, or informative, please consider leaving us a rating and review. It only takes a minute and can make a huge difference in helping us reach more listeners. Hospitality.FM The Real Estate Law Podcast is part of Hospitality.FM, a podcast network dedicated to bringing the best hospitality-focused podcasts to those in and around the industry, from Food + Beverage, Guest Experience, Diversity & Inclusion, Tech, Operations, Hotels, Vacation Rentals, Real Estate Law, and so much more