Wealth Protection Secrets of a Millionaire Real Estate Investor

by William Bronchick

Book Overview

Successful real estate investors and entrepreneurs who've spent countless hours building wealth often see their profits dwindle due to an IRS hitch or other legal snag. After working so hard to be... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0793177545
• ISBN13: 9780793177547
• Release Date: October 2003
• Publisher: Dearborn Trade
• Length: 206 Pages
• Weight: 0.80 lbs.
• Dimensions: 0.5" x 7.3" x 9.0"

Customer Reviews

I ain't saying you a gold digger but...

People only sue other people who have money! This book touches on the important ABCs on avoiding lawsuits, avoid standing out in the broke crowd, and holding assets in anything but your own name without losing control of them. There is a very enlightening section on Life Insurance that was worth every penny in itself. This taps into Land Trusts but for a complete package I found it with Land Trusts by Louis Brown (just be prepared to pay serious $$)because this topic doesn't come easy to me. Never-the-less, this is the book for you if you're ready to protect your ass-ets.

Great Starter Book for Asset Protection

On my first reading of this book, I said, "Huh?" Then, I attended a corporation seminar. Both the seminar and Bronchick's book were instrumental in formation of my expertise in the use of corporations for asset protection for my real estate business. Admittedly, this book is light on details, but the diagrams and examples provided more than make up for that. Besides, you should seek professional advice anyway in addition to this material. This book is a goldmine for the entrepreneur. Not only is the advice great for those of us in small business, but the material is a rich source of pratical ideas you can apply to your operation.

Plain English explanations of complicated subjects

Once again, Mr. Bronchick does an excellent job of taking complicated legal subjects and making them readable for the average person. I am an attorney as well, and I often recommend this book for clients to read as a primer to the subject (especially when I tell them what it will cost for an hour of my time to explain it!). There are a few books on the market on asset protection, but this is the only one that is geared towards the landlord or small-time real estate investor. One caveat for the reader- there are some sample forms in the appendix, but they appear to be for example only. One should always review these concepts with an attorney to make sure the forms are drafted to comply with the client's specific needs and appropriate state law.

Easy to read, good overview of the topic

This book was very reasy to read, considering the magnitude of the subject matter. Short, but to the point on a variety of topics involving real estate and small business liabilities. I particularly liked the sample asset protection plans laid out in detailed diagrams. The book also covered a lot of things NOT to do, such as "trust scams". There's quite a few legal forms in the appendix, but not enough information on how to fill them out and use them. For my purposes, however, the book gave me what I needed, which is a bird's-eye view and the background knowledge to visit with an attorney to implement the strategies. Anyone who expects a book give them 100% of the information necessary to draft complex legal documents involving all their assets needs a reality check.

Another helpful and informative book from William Bronchick

After reading several books on the topic, I found this book to be the most helpful. This was one of the few books I've read on the topic that was geared specifically towards the real estate investor. Other asset protection books I've read are more generic in nature.The topic of corporations and other legal entities is pretty dry and often hard to follow, but this book does a great job of making it simple and easy to understand. Although the book does give some free legal forms, it does not give you the specific tools necessary to accomplish forming entities. Then again, I don't expect an $18 book to teach me what a lawyer would charge thousands for. However, it gave me the necessary info to decide what to do next, which, after visiting with 2 lawyers who didn't know this stuff, was VERY useful!I recently saw Mr. Bronchick speak at a real estate convention. I've been to a lot of seminars and heard a lot of hype, but Bronchick is a straight-up guy, giving no-nonsense advice. This is refreshing in an industry full of BS artists.