preparation

You can’t hide anything from an attorney! If you own multiple properties, then you need to take steps toward financial assets protection. In order to protect your assets, make sure that you have enough property insurance to protect your investments and practice anonymity. Otherwise, you will live to regret it!

Financial Assets Protection is a must - multi-family rental propertyFinancial Assets Protection Strategies Discussion

Rob Rowsell hit the ground running in this ATL call! It is so important to cover all your bases with your properties. He learned his lesson about financial assets protection the hard way when a jilted employee blindsided him with a lawsuit for over a half a million dollars! Talk about not having your ark ready for the storm!

Our host laid out three key strategies to assure that our assets are protected:

  1. Make sure you have enough comprehensive insurance on the property
  2. Practice anonymity through a property holding company – an LLC doesn’t count!
  3. Have enough liens on the property to make sure the value is evident

If you don’t think that you will need this advice, then you should think again! The more properties you own, the more open to litigation and financial audits you will be. Whether you like it or whether you don’t, the storm is coming. Do you have enough financial assets protection strategies in place in order to weather the storm?

Join Our Community

Do you own multi-family properties? If not, do you aspire to one day? Then you should consider joining our online discussion group, the ATL ALL-In Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Sign up today!

 

Review parts 1 through 15 for details and thinking, then utilize the Recipe for Change.

Part 3 – Equip Yourself for Change

Okay Gary, how do I equip myself for change?

  1. You must be committed to the change.
  2. You want to set in motion an education process with your staff on why change is occurring.
  3. You must have a written plan for why, when and how.
  4. You must train the change.
  5. You must follow up forever.
  6. You must hold people accountable.
  7. You must reward and celebrate the right behavior.

Let me sum it up in one word: “resolve”

Repeat after me:

I will accomplish this change.

I will never let my eyes blink.

I will persevere through it all.

I will finish the task.

The Recipe for Change

When you’re baking a cake, there are certain ingredients that are necessary for the cake to come out as planned. You need to follow a step by step procedure. Include all portions as described, mix as indicated, then cook for the optimum time and temperature. Any variation from the recipe may cause an incomplete and utter disaster! If you don’t follow the recipe, you will not get the results you were expecting.

When you’re leading your company and staff through change, a recipe would be very helpful, so here it is:

  1. You must be totally committed to the change (1 gallon)
  2. It must be well defined and written (1 pint)
  3. You must be willing to accept the push back and resistance (1 quart)
  4. Create the WHY story to sell to sell your staff (Five Pounds)
  5. Talk to them one-on-one (1 Tablespoon)
  6. Give them time to adjust mentally to the change (Let Marinate 1 week)
  7. Let them express their feelings (Snap-Crackle-Pop)
  8. Set a rollout date for the change to occur (Cook Time 10 Days)
  9. Have many training sessions before rollout (Mixing steps)
  10. Establish the change as a habit (Tasting the results)

This is a quick and simple recipe for change. Follow the ingredients and steps, and see what results you will achieve. Review parts 1 through 15 for more details and thinking.

Management is the formula.

Leadership is the essential catalyst.

You are the stick that stirs the ingredients.

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