Asset Protection
I'm looking for the best approach to protect my assets, specifically my home before I purchase my first investement property. I understand the issue banks will have with the title put into the LLC name. I've read a bit about setting up offshore LLC's and Family LP. I suspect the risk exposure is almost unavoidable, especially if I need to be the guarantor on the investment property loan. Not interested in having the bank call the loan if I was to transfer title. Any suggestions???
Your question requires more time than I have here, but I would start by advising that you check your state's homestead exemption. For example, in Arizona, the first $150,000 of equity in your home is protected by this exemption. Thus, it's best for asset protection purposes to never let the equity get above that amount. Florida has an unlimited homestead exemption (subject to some exceptions). You'll have to look up your state's exemption. Try looking here:
http://www.assetprotectionbook.com/state_resources.htm