Reputation - A few gentlemen asked me to be a part of an investment as a silent partner but I quickly decided I wanted no parts of it because of how the money was being made.  All it would have taken was one incident gone sour to ruin my name which would have possibly had me banded from a much more important and lucrative deal years down the road.  No one will find this out more than the notorious pied-piper gunslinger wood-swinger.  Before I even sound remotely saintly, I have text messages that I'm nearly deathly afraid of my momma finding out about, let alone CNN.  It would be gut wrenching to find that someone creates a $1.1 billion dollar golf course in the land of 7-star hotels complete with 22 palaces, 75 mansions and 100 luxury villas and have it all bearing your name as one of the most prestigious communities in the world to one day wake up and find that they've decided to take your name off.  I hope that doesn't happen but that's just a potential consequence for the telling dirty dozen.  It takes a lifetime to build what that young man had and look at the colossal damage that has just started to unravel and we don't even legally know how much of it is true yet.  How many square feet is a palace anyway?

Don't Bet the House - J.D. Rockefeller said that it's best to "own nothing but control everything" and while I understand his point, I don't think you should exercise this when it comes to your house.  I find it far better to keep it in your name than placing it under a business entity.  For one, you'll lose your tax benefits and your homestead exemption which together adds up to a lot.  For some, a trust may make sense but read the book listed below or consult an estate planner.

Your Mind - Benjamin Franklin said it best, "If you think the cost of an education is expensive, try paying for ignorance."  Keep your mind sharp by reading and studying the people who not only make it happen but keep it happening legally.  Just as a source of reference, I recommend Asset Protection 101 from Donald Trump and J.J. Childers.  For motivation and investment tips for real people with real jobs and real light bills, read Real Estate for Real People from the guy who went from the mobile home to where moguls roam - yeap - that would be me!

Real Estate Investors - I know some of you get hyped on the infomercials about earning tons of money in your spare time from residential or commercial real estate, but before you invest in all sorts of programs or even take the Trump/Kiyosaki courses, go see an attorney who can set up a proper LLC to put those assets in.  My favorite example is the gas trucks that supply your most visited gas stations.  God forbid the driver starts texting his girlfriend, runs off the road into a building filled with people and everything explodes.  Should something like that happen and your family is involved, surely, you don't think you'll become the new owners of Shell or Exxon do you?  That truck is operating as its' own separate entity and the only thing you'll get is the charred remains of the truck because that was the business.  Now that doesn't keep the parent company from paying punitive damages, but I think you get the point.  Should someone pull a slip and fall on your property, you don't want it in your name.  You want it buried under holding companies and LLC's.

Don't Think You're Worth Being Sued - Think again.  When attorneys sue, they want to know that there is something to be had.  A simple search in the public records will tell them exactly what you own in terms of real estate.  A credit check will tell them what you have in terms of equity.  A DMV search will tell them all about your 09' Lexus coupe and 07' Mercedes S500.  This is not to scare you into not getting these items as they are great to have, but if you're starting small businesses and have these assets just be aware of the image you create if trouble comes your way.

Pray to God People are Telling You the Truth - Everybody wants to talk money but bring up God around investments and you'll find deafening silence.  Check every piece of currency and they all say, "In God We Trust", but they don't really want to talk about it and it saves face on the shady.  People will lie to you with a face straighter than six o'clock.  You should be praying before you invest, during the investment and even at the deal table when it's almost over.  Only God can see everybody's mind and intentions so you'd better be in cahoots with Him so he can be that little bird on your shoulder telling you when to move.