How to Use Creative Legal Strategies to Invest in Real Estate

Protect Your Properties From Lawsuits

Have you ever wondered how real estate investors protect their properties from lawsuits? Join us as we explore high-level asset protection strategies with Scott Royal Smith, an experienced real estate investor and attorney.

In this episode, you’ll learn:

• How to purchase properties anonymously within a company structure to minimize lawsuit risks.

• The importance of compartmentalizing assets to protect your investments.

• How to simplify your taxes through disregarded entities

Links:

• Visit Scott's website - royallegalsolutions

Time Stamps

00:19 Guest Introduction: Scott Royal Smith

01:10 Why Protect Your Assets?

04:44 The Importance of Anonymity in Asset Protection

06:11 Compartmentalizing Assets with LLCs

14:49 Equity Stripping for Asset Protection

16:53 Simplifying Asset Management

18:59 Building a Comprehensive Financial Team

20:06 Client Success Stories and Testimonials

25:44 Getting Started with Asset Protection

30:50 Conclusion and Final Thoughts

• Transcript

  Introduction to the Podcast

  Welcome to me financial the podcast designed to inspire your financial life. Hello, everyone. And welcome to the podcast. I am Michelle Moses, your host. And today we are going to be talking about safeguarding your properties from lawsuits.

  
  Guest Introduction: Scott Royal Smith

  And to talk about this, we have Scott Royal Smith here, and he is a real estate investor and asset protection attorney.

  He likes to educate the public on asset protecting strategies to help circumvent debilitating lawsuits. Thank you for joining us. Yeah. Pleasure to be here. Yeah. So I, uh, have been wondering about this for myself and I did do a podcast about purchasing real estate, uh, that isn't in your name, like purchasing it privately.

  Um, but I am really interested in talking about this in terms of, you know, not only your house, but your investment properties and maybe apartments and, you know, all commercial property for your business maybe. Um, and so [00:01:00] where, you know, where should we get started? Started with this, like when should someone, I mean obviously they should start thinking about this before they even purchase a property.

  Yeah.

  
  Why Protect Your Assets?

  I guess the big question is, is like, why would you even do it? Mm-Hmm. and what's the right time? Yeah. You know, um, that's a tricky question to know the answer to. As you can imagine, it's probably different for like most people are gonna fail, like a little bit different. And I've always been curious about that.

  I was like, what really separates these people about how do they decide what the right level is? And the best I've been able to come to is what would make you cry. Yeah. It would make you cry if you lost it. Yeah. Right. If it would make you cry to lose it, then it probably makes sense to protect it. Mm hmm.

  Well, and you're not even like talking about protecting it from lawsuits, but protecting it from when it's passing on to your heirs or something happens to you too, right? I mean, there's a lot to think about when it comes to protection of your properties. Yeah, those things are covered by like estate planning, how to make sure to avoid [00:02:00] probate court and all those things.

  So you typically think about asset protection and insurance is how do you protect yourself against lawsuits? You think about estate planning as to protect yourself from creditors and from like the court system, make sure that your family gets those assets right away. Taxes is really just protecting yourself against the government.

  And then, you know, looking at good, like portfolio analysis is just protecting yourself against lack of foresight. Making sure that you have a good plan for like, what assets do you need to be in to get you the right cash flow, the right net worth, and the right net type of tax advantages that can come with investing.

  So everything is about like protecting, about protecting to create this durable life, a durable financial freedom. Durable existence of whatever it is that you want it to be. Yeah, and kind of extrapolating from there, I had always, um, I think in my rookie years, thought of protecting assets as just, uh, get some insurance and get a lot of insurance and then you would be protected.

  And I know [00:03:00] that that is not the case anymore. Can you kind of speak to that? Yeah, I actually ran into this. So, I mean, I was, um, you know, I bought my first property and business actually when I was in law school. It was a commercial building that I bought for 10, 000 in back taxes and I had that and then auto transmission repair business.

  So I thought I could solve for 15, make it a quick five. And, um, And it turns out we rehabbed the business in the building and we were able to flip it to pay for law school, me and a partner. So I graduated from law school without any debt and was working as a litigation attorney. So in insurance companies and buying real estate until I was making more money doing real estate than I was being an attorney.

  And I was like, Hey baby, I've got it. I got the passive income time to go to Africa and climb Mount Kilimanjaro, travel through Europe, do everything there. And I had a big wake up call. My mentor, a friend that had coached me, he got hit with the major lawsuit and it cost him 3 million. He was the guy that always told me, Hey, umbrella insurance is enough.

  And he found out the hard way. [00:04:00] He said, Oh, well, this deal that went sideways, they sued him for breach of contract and went to the insurance company and some insurance company says, Nope, we only protect against simple accidents. Somebody slips and fall. That's okay. Somebody alleges that you lied to him in an email, which is what they always allege.

  Somebody says you broke an agreement with him. Never going to cover that stuff. And that's when I started to get serious about putting LLCs protection around all of my properties and used to the series LLC because if my friend would have even just one LLC, he'd be at least 3 million richer today. And when you do the LLC, you shouldn't sign, if I'm understanding this correctly, you shouldn't sign it yourself because then it doesn't really create, um, like the greatest barrier.

  Am I correct in saying that? Yeah.

  
  The Importance of Anonymity in Asset Protection

  So when you're talking about like asset protection, right, what you're really looking for is to create a place where actually you don't own anything anymore. Now you actually just have a company that owns everything. Then the question becomes, so what's the [00:05:00] strongest kind of way that my company's going to operate?

  And the strongest kind of company structure for it is one where the company's owned anonymously, all the assets are owned anonymously. So that way, if they look to sue you, it doesn't look like you own anything. People that know anything aren't as good to sue because they got nothing I can take. But they could still sue you and figure it out, correct?

  But they probably won't go because they're a lot of, a lot of lawsuits come from, Oh, you're rich. I want to sue you. And I think that you can get something. Is that right? Or not? Am I not right in that? Yeah. Well, that's, that's the first question. As if I had to sue somebody is like, what am I going to get?

  Lawsuits are a business. That's a business. That's a guy going to Vegas. It says, if I spend this much money on the lawsuit, there's a certain percent of chance I'm going to win. And if I do win, then I can get this much money. But at the end of the day of that actually says, I have to be able to go take that money too.

  Take whatever those assets are. So when you anonymize ownership of assets, uh, it says, well, this [00:06:00] maybe this is a bad gamble or number of different reasons to say, well, we're not sure that there's assets there that we can take. So it makes this whole lawsuit, much more risky and much more, riskier gamble.

  
  Compartmentalizing Assets with LLCs

  And then what you, What to do if you're on the protection side of the things is compartmentalize each individual asset into its own bubble or its own bucket. And depending on the type of asset, it's going to depend on the structure, you know, commercial properties and multifamily. Those typically are an individual LLCs because the financing reasons that go into those your one to four unit properties, your syndications, your land, your notes, whatever those might be are typically in a series LLC as you can compartmentalize each one of those assets for free.

  And that makes it so that way, if there's a lawsuit against one of the assets, they can't go after any of the other assets. So in the business of the lawsuit, we're looking at this gamble. We, the anonymity makes it so that the whole lawsuit becomes much more risky and that even if, and that the, the [00:07:00] LLC protection or series LLC, Protection says that even if you win, you get a very small amount.

  So that's how we can shrink the pie. Like, uh, like what can they actually get? So at the end of the day, if you want to win lawsuits before they ever start, which is the ultimate goal of asset protection, but you have to understand is the facts don't matter. What actually matters is the business decision and how do you control the business decision is actually taking proactive steps to be able to make the equation of do they risk money on the lawsuit not make sense anymore.

  And so how when you're speaking about making an LLC anonymous, how, what are the details of some of the details of that? What do you mean by that? So LLCs become just two critical factors. One is the anonymity. Which you can either they're either de facto anonymous like they are in Wyoming, or you can actually create any LLC to be owned anonymously.

  If you establish some type of vocable grant or trust to be the owner of the LLC. [00:08:00] When you combine that in conjunction with a law firm, Then anything listed in conjunction with any trust or LLC all just points back to an attorney and a law firm at trust. You have a very high degree of anonymity that's also protected by the attorney client privilege.

  Additionally, what you want to be looking for with the type of LLC you want is one that has charging order protection. One that means says that if I go into, you know, Scott, for example, or Bob, uh, if he doesn't have charging or an LLC with charging order protection, I can take his ownership inside of his LLC.

  Well, that's an LLC that doesn't really provide complete protection. So that's why we want to be forming LLCs that are located in Delaware, Texas, Nevada, or Wyoming. that have strong charging water protection. Wyoming is going to be de facto anonymous. We form in another state that we want to be using an extra trust to be able to, to create the anonymity there.

  Um, and therefore using one to four unit properties or these other types of individual assets other than commercial and apartment [00:09:00] complexes, we want to be using a series LLC. Um, or if we have those commercial assets, then we'll simply add in some individual LLCs that are typically formed in the state where the property is located.

  That only on that one piece of property and the only reason we're doing that is because that's what the financing institutions want to see, uh, for those types of commercial assets. Okay. And by a series LLC, do you mean that you would split each individual? Um, I, so it's a four plex, right? You're splitting up each apartment into the one LLC.

  Is that what you're saying? Or that you're saying that. Each building can go in each series. LLC. Yeah, so the series LLC is the special type for just anybody that doesn't know. It's a special type of LLC, um, created underneath like the sta statutes of typically, you know, Delaware, Texas, or Wyoming. Um, and what it allows you to do is create like these individual child series.

  In each child series, you can think of as like a baby, like a, like a child, and it can create an infinite number of them for free. [00:10:00] And each one of those acts as like an individual LLC. So what you do is you carve each individual note, piece of land. One to four unit property and you put it needs in each individual child series.

  So there's a smallest bucket of possible things. So if something happens to that property, say grandma falls to the staircase, hopefully your insurance company is going to cover it. But if the insurance company says, nah, this was gross negligence and we're not going to cover it because you knew that the staircase, that there was a problem with the staircase and you didn't repair it.

  So we're not going to cover you for it. It says, well, then grandma can only come after that one, um, fourplex. Now, the minimum amount that you, the smallest unit of stuffness you can get in real estate has to do with a deed. So like a fourplex, the whole fourplex has to go in a child series. You can't split it up into individual, uh, units.

  Okay. I was going to say, that's like something that would be very interesting. Something I never heard. [00:11:00] And so how do you know that you can trust your lawyer to be the like What would you call it? The signer on the LLC? I mean, can't, could they just go do whatever they wanted to do with it since they're kind of in charge of it?

  Yeah, so the way that we structure it is that the attorney, myself, or one of the staff attorneys will appear as like the trustee of the, of the land trust with the land trust being on title to that asset. That land trust is kind of cool because it allows you to get personal financing, which is cheaper financing, and then put it into land trusts after the fact, and they can't foreclose on it based on Compton and St.

  Germain. So if you want to look at like how land trusts defeat, um, due on sale clauses, there's a lot of good information about that, but that's how that strategy works. Ultimately, um, that trust documents the one that governs. So if you try to sell a property out of a trust, you actually have to produce the trust document to say, Hey, you know, my name is Bob and I have the power to be able to sell this property that's listed in the [00:12:00] name of the trust.

  Well, the way our trusts are set up, um, are such that the attorney is listed, um, as being on the public records. But when you go to produce the trust document, the trust document says the attorney resigns immediately after the property is transferred to the trust and the client is at that point, the sole trustee, even though they're not going to appear on any of the public records.

  So the client actually always has control of the property and there's nothing that the attorney could do. could do with that property because once they produce a document, somebody's going to look at it and say, Hey, this attorney actually isn't in control of this property. Okay. So a grant or land trust would be how you would buy any, I mean, you could buy any property privately that way.

  Yeah. You can buy it. If you buy in cash, like some of my clients buying cash, they'll buy it directly into the trust. Their name's never going to appear in conjunction with anything inside of even the chain of title or in type of financing for everybody else that buys those properties and gets conforming loans on them.

  You know, they'll transfer them into the trust after the fact. It'll look like a sale to the trust. Um, their name still appears in conjunction with, [00:13:00] you know, some financing associated with property. Um, but at the end of the day, they're no longer the owner of the property. The trust and the child series of the series LLC is the owner.

  So if somebody tries to guess that, hey, the XYZ client still owns that property and I'm going to assume and try to go after that property. They guess wrong and they waste five to 10, 000. Right. But even if you were to have a loan on it and it did say that you, uh, moved it into the church, made a sale to the trust.

  Um, even if you weren't looking for privacy, then at least you have the legal coverage. Right. I mean, if you're not looking for privacy, then it doesn't matter. Yeah, you do have the legal coverage. Um, now and on, and when you look at any of the county clerk records, or let's say your neighbors are trying to see who owns that piece of property or whatever, it's just going to say the name of the trust, right?

  All the, all the most they'd be able to say is, Oh, this person still looks like they still owe money. on that property that's now owned by this trust underneath this other person that's listed as trustee. [00:14:00] So you can see there that like what they're really having to do is take a bunch of guesses at who may or may not be the owner and, and what that whole situation is really all about.

  Okay. Okay. So we've talked about how, so basically part of it is just. that you are trying to, um, not get sued in the first place because you are creating this degree of, uh, anonymity, uh, and safeguarding with the LLC. Is there another step after that, that it protects you even more from? After you get sued, like let's say somebody else wants, they want to sue you and they go ahead with it, it's just, is the benefit really that just that one property is in it?

  Yeah, so there's the anonymity, which is how you stop the lawsuit before it starts, right? Then there's a compartmentalization of assets, which shrinks the pie, right?

  
  Equity Stripping for Asset Protection

  Um, and then after the fact, what you're able to do, let's say if you have like a lot of equity, Inside of a property that you want to protect, um, then what you can do are things like that are called equity stripping [00:15:00] and with equity stripping, what you can do is, is create your own LLC and put your own notes, essentially your own mortgage, um, on side of your own property.

  And if you follow these things correctly and, and, and do the things that are necessary with actually bouncing the money through the bank, proper bank accounts and having it papered, you know, filing that paper with the county. Um, let's say I had a million dollar property that I only owned. I only owed like maybe a hundred thousand dollars on it.

  Maybe I own that all cash. Well then like I can own it anonymously and I can compartmentalize it, but it's still a million dollars sitting there. So what I might want to do is to create my, a new LLC. Well, she's going to do, it's going to create a note. Uh, with my asset holding company, and it's going to place a 1.

  5 million lien into my own property, and I'm going to file that and secure it with the county. So that way, if somebody comes and says, Hey, I want to sue this, uh, property, cause grandma fell through the staircase. So she's going to sue that property. Well, if she wins the [00:16:00] lawsuit and then she forecloses on that asset legally, whoever is the secured note holder gets paid out first.

  Banks always get paid out first, right? But in this case, it's my own company that gets paid out first. So there's things like that that you have to do, but notably they all have to be proactive. Yeah. Once you're sued, everything gets frozen. So this whole game of protection only works if you put it in place ahead of time.

  And so if you were to do another business that were to put the lien on the house, it obviously needs to be a different business, right? A different, you want to set up as a separate LLC. Okay. I mean, does this get too complicated for people to manage? I mean, cause you got to do taxes for all these LLCs and keep track of it.

  Is that something that you help people deal with? Cause to me, it sounds like a paperwork nightmare, but you know, you might feel this way.

  
  Simplifying Asset Management

  Operational as well as costs are really important, right? Cause the game that we're trying to play is like, how do you accelerate the path to financial [00:17:00] freedom? And then inside the games, how do you make it durable enough?

  So there's a whole bunch of stuff that you don't want to do in asset protection because it's way too costly, both in terms of setup, at how much time has to go into it, how much does it cost to maintain, like offshore trust, for example, to get you that last one to 2 percent of protection, but you're paying tens of thousands of dollars to be able to get that last one to 2%.

  And that going offshore is actually going to get you, for example. So it's finding the sweet spot. The way that we've structured everything is that you have the minimum amount of bank accounts, the minimum amount of accounting books, which typically is like a single bank account as you can do everything with a single account of books.

  As long as you keep track of the income and expenses for each property or each asset that you have separately, that's really what's required to be able to defeat any claim of an alter ego theory or piercing the corporate veil. All of the entities are typically structured to be disregarded entities for tax purposes.

  So everything that you're doing right now for tax, you can still do exactly the same way. And there's no additional tax filings or tax returns that are required for it. [00:18:00] Oh, so you wouldn't have it taxed any different way. because it's one single property, no matter how much it was making. Well, the question that becomes is a different question.

  Actually, the question that becomes is what's my tax strategy. And what I'm saying is your asset holding and your asset protection strategy can be a completely disregarded structure such that whatever you're doing on the tax strategy side can be exactly the same way. Now there might be a bunch of things that you do that says, well, I have an operating company that I take money through and I want to have that taxed as an S corp.

  So the fact that it's an LLC is part of your asset protection structure. Well, I have an operating company that owns no assets, but does everything because that protects me personally from lawsuits. Then there's a secondary question, which is, well, all the money that's coming through that as active income, do I want to have that tax as an S corp so I can save on self employment tax?

  That's a secondary consideration that you typically are looking at in conjunction with what's your asset holding structure.

  
  Building a Comprehensive Financial Team

  That's [00:19:00] why it's important to have A CPA, MBA, CFO, CPA have all of these people inside of one team because The magic is not one strategy. The magic is how do you get all of the puzzle pieces to actually work together in the most efficient and effective way to be protected and have the proper estate planning, save the money on tax, align the portfolio and make it where it's easy to operate, where you only have to look at it for a couple hours every quarter, um, and know that everything is done right.

  That's the real magic of this money making stuff. And that's what you guys have. I mean, you guys have a whole team that basically does that. Yeah, I spent the last 12 years building this full team for myself, like I'm getting out of, like, this is the team that I would need to go ice climbing for months at a time up in Colorado and go travel around the world and do all the things that I want to do.

  Um, and that my team and Royal legal solutions is just an offshoot to say, well, If anybody else is interested in being able to benefit from this, we're happy to work with them too. And we've helped about 2000 clients over the [00:20:00] last 12 years do this. We take on about six to 10 new clients a month. Yeah.

  
  Client Success Stories and Testimonials

  Well, you have a lot of great testimonials on your website too. Uh, you guys, I want to back up a little bit because he was talking, um, using some terms that I want to make sure everybody understands. A disregarded, uh, entity LLC, just means that all the income just falls Lows to you as if you were just earning it like as a sole proprietor or something like that.

  You're not having to do, uh, a lot of special taxes, like a whole separate tax return for your LLC. It's just all kind of pass through income. Am I describing that correctly, Scott? Yeah, that's right. The way I say that is you can pretend as if it didn't exist. Yeah. And then if you elect to be taxed as an S corp, which I have another episode on that, if you guys really want to get in the deep weeds about it, uh, you are electing to basically become like an employee of your, uh, business.

  And then the taxes, you know, you have a whole set of Separate tax return that you do there and you're writing [00:21:00] off separate things. Um, and it does become more complicated. So that's what we were kind of talking about is if it's a disregarded entity, that means it's a lot easier to manage on your taxes because it all just flows through.

  Versus if you're wanting to save some taxes and save on some self-employment taxes, which is like your fica, your social security, all that. Uh, then you would be elected as a tax, as an S corp. Uh, and you would, uh, pay yourself a salary of say, like $50,000 and then everything else that you made. Would just be taxed on a regular income tax.

  You wouldn't have to pay all the FICA taxes on that. So just a little caveat there. I often get feedback that sometimes they're like, I didn't understand everything you said, but so I really try to explain everything and not talk over people's heads now. Um, anyway, okay. So back to what you're talking about with your team.

  I think that you've got some great, um, testimonials on your website and, um, I mean, it seems like you've got it, all the testimonials talk about how easy it is and how it really [00:22:00] doesn't take them any time to manage all of this, which I think is really cool because when you think about managing real estate, I mean, you really do think it takes a lot of time, right?

  And books. That's what I think of, anyway. It, it took, um, it took me years working on this full time to be able to learn what it was. And I also had to join like high net worth, like groups of people like GoBundance, Tiger 21, and basically like sneak into these rooms to be able to like learn from. What, what are all of the actual rich people and really successful entrepreneurs doing?

  And then, because what I wanted to know is what they were doing and then how could I do it for myself? And then Royal legal solutions became like an extension of, well, is there a fractional way that we can actually do everything that these people that are doing that I have are worth 25, 50 or a hundred million dollars, but do it in a way that the average real estate investor and the average investor can benefit from.

  And that really became. Like the mission of the company is to say, cool, we actually think we can do this. If we do it like in a fractional way, [00:23:00] you don't need all these full time people. You really just need six weeks to get everything set up from start to finish. Work with like about a year of meetings to be able to get trained in on how.

  Everything like works for you. Um, and then after that, it's typically just quarterly meetings for these clients to be able to talk about, great, this is how much money you're making. This is the kinds of investments, um, that you need to be making for your tax net worth and cashflow goals. And then here's deals that we have inside of like our.

  Access from actually, which is my own personal deal pipeline. Um, not my deals, but ones that I put where I put my own money into that other people are, um, the GPs on and otherwise managing and don't get paid for any of those. Um, and so that way it just becomes. this way in which that money becomes very boring, but well cared for part of our lives.

  And that's ultimately, that's where I think where we start to get really free. Yeah, I agree that we're in where you're not really, again, money getting boring and where you're not having to think about it. Uh, because when it comes, becomes burdensome, it's not worth it. I [00:24:00] mean, you're really working for your money really when it becomes burdensome like that.

  And so do you do, is it like a monthly fee or how does it work to join in on all of this? Yeah. Um, so typically there's a big build phase that needs to happen, you know, in the first like six weeks to build all these state planning, the asset protection structures, the different types of tax structures, um, all of the, the tax analysis.

  Reviewing the prior to your to your tax returns or doing the portfolio, making all those recommendations. So we typically have a structured as like a, um, an upfront fee for us to be able to do that full build and then a really affordable. Um, ongoing fee to be able to say, you know, here's what the cost is to maintain everything and to keep the.

  The drumbeat of the meetings that we have found over the last, um, years and years of working with so many clients that this is actually what's necessary. And then people are able to scale into more meetings if they need more time and more education. Um, I've also [00:25:00] combined that with a resource on our website.

  All the vault that I've like 11 eBooks, hundreds of hours of video training. Um, and it's all free access. So, and this way we're able, you know, we're working with people that say, look, that's your education resource. It's free to everybody to go in there, no matter what level you're at. It's never too early to start getting educated on the right way to do it.

  And then if you do join, we're going to build everything for you. And then it's going to be you learning while working with the professionals inside of the system that's already built and running. So you're getting hands on training, essentially. That how that works and additional education at the same time to accelerate to say, it's not going to take you five to 10 years to build a team and learn how to do everything.

  It's going to take you, you know, three to six months. Yeah, here it is. It's it's ready for you when you have.

  
  Getting Started with Asset Protection

  So would you recommend that even before someone even buys their first property that they come to you or do they need to have multiple properties? Yeah, what we typically find is that, um, anybody who's making a household income above 150, 000, 200, [00:26:00] 000 a year, our entire upfront fee that we charge to be able to do all the build and get you into all of the, the programs with the meetings and everything else, um, we will save you that a much money in tax guaranteed.

  Right. We won't take on a client that we don't pay for inside of the first year inside a tax savings. Even if they've got a, like, uh, they don't even have any houses yet or any real estate yet. They just make that much with their jobs. You make that much with your job. That's great. You want to learn about money and how money really works.

  Like, okay, great. Well, you probably want, you probably have some cash, right? Okay. So that's an asset holding company. You're probably making offers or doing something. So that's an operating company that you want to be making offers through. Um, you're probably going to have, you're going to need tax shelters, strategies to protect your, um, Um, money from tax from your W 2 income, your 1099 income.

  We know strategies to help trick both of those. You need to start learning about how to look at your portfolio, to start charting out what are your goals that you're really trying to get to. When are you going to be free? And say, great, well, do I need big [00:27:00] appreciation plays? That have a big IRRs and five year exits and looking for like boring stuff like storage units.

  Do I need a lot of cash flow right now? And so I want to be looking for those kinds of deals or it's like, Oh, I just need a ton more tax benefits. So I got some oil and gas things I want to get into or I want to get into, um, deals that are much more, um, tax efficient for me versus. Learning about all of those things and getting a plan because ultimately we won't do anything for most people anyway.

  They won't do anything until they're actually sure they need to do it. And so if you're haven't, if you're, if you got, if you got money and you're making money, then you're know that you need to be investing and likely the reason you're not investing is because you're not 100 percent clear of what is the exact kind of investment that I'm looking for from cashflow net worth or tax, what's going to be safe to invest in.

  Okay. And that I have a really high probability of, of this being a great asset for me. And then how does it tie into everything else that I need in terms of like an asset holding [00:28:00] company? And how do I do this with my estate planning? And, you know, likely what's happening is you're just winging it and you're not doing it much because you're just not clear.

  And so that's where I think it comes. Um, that's where I think we give value to people in there. Of course, if you already have tons of, or you already have some assets and whatever slam dunk, right? Like we're going to, We're going to kill it for you on that, but even the people that are like making money in the beginning, I'm like, you know, this is going to get you off the, off the fence of doing nothing.

  And inside of six weeks, you're going to be like, I know exactly what I need to do. All I got to do is go make decisions. Yeah. I think clarity when it comes to your finances is like the greatest gift ever. Yeah. Honestly. It brings like this huge amount of peace. That's what I didn't realize. It took me years to build all this stuff for myself, but I didn't realize like how much tension I was carrying around all the time about thinking that there's something else that I should be doing, or something else I need to read to know that I'm doing all the things that I could be doing.

  And the moment that I really feel like I crossed the line with building [00:29:00] Building the stuff inside of Royal Eagle for myself was that I was like, Oh my God, I finally am actually relaxed. I'm, I'm not worried about it anymore. I know it's going to be fine. And you know exactly how things are going to build.

  Yeah. And you know what you need to do to get there and you just need to plug in the pieces. So yeah, I think clarity is key. That is key to everything. Yeah, that's awesome. Congratulations. I'm figuring it out for you. Cause you know, it's, it's not for it. It's, uh, stuff is, I always say stuff isn't for everybody, you know, cause there could be other people that want to go in another route, but, you know, I think it's wonderful that you have clarity and you're providing that to people and it's a, it's a great gift to give people.

  Yeah. I mean, it's just what it was important to me because I wanted to be climbing Mount Kilimanjaro and living with the Yawanawa tribe and the Amazon and ice climbing and doing this other stuff and life and, and helping, um, you know, helping nonprofits with their executive teams that are teaching inner city black kids how to read so they don't end up going to jail.

  Like that, like [00:30:00] that was the stuff that gave me like jollies in life. And that, you know, To me, like life is like a road trip and the point of life is the road trip and it just has so happens that we need this thing called gas. Yeah. So how can I make it where like gas is easy so I can actually go do this thing called live in the road trip.

  And I, I think a lot of us have gotten so distracted with worrying about gas and trying to stockpile gas to not know how much gas we need and all of the other things of what happens if we live gas gets taken away from us. And all of this stuff, and we lose sight of the road trip and that if we don't get back to focused on the road trip, we're going to wake up old, realizing that we just blew it.

  We blew the whole thing. I totally agree with you. I love your analogy. That's a great analogy. I've never heard the road trip analogy. That's great. with the gas.

  Conclusion and Final Thoughts

  Well, Scott, thank you so much for being on. This was absolutely wonderful. I have learned a lot and, uh, everybody I'm going to have Scott's, uh, website and [00:31:00] information and just everything linked to your podcast.

  What's the name of your podcast again? Yeah. So, um, website of the company is royallegalsolutions. com and the podcast is Real Estate Nerds. Okay. Yeah, that's right. I liked it. So I'll have a link to all of that in the show notes. If you have any questions or want to get in contact and let me know if you have any questions and thank you so much for listening again.

  I hope this provided a little bit of inspiration for your financial life. Thanks, Scott. Thank you.

Disclaimer: The information provided in this podcast is for general informational purposes only and should not be construed as professional financial advice. Always consult with a qualified financial advisor or professional before making any financial decisions. The hosts and guests of this podcast are not responsible for any actions taken based on the information presented.