Real Estate Podcast

Episode 210: Legal Shield Podcast

brrrr method david dodge discount property investor michael slane podcast real estate 101 real estate coaching real estate investing real estate investor real estate tips wholesaling wholesaling real estate Sep 22, 2022

Show Notes

Let us join David Dodge and Mike Slane as they talk about Legal Shield, today they are joined by their good friend Chris Craddock who is also a big-time real estate investor. Legal Shield is a cost-effective way for a legal team to monitor your business or your personal accounts. Letting you rest easy knowing you're protected. For more information check out or or message [email protected] for inquiries.

Things that cover in this episode:

  • How "LegalShield" works
  • Services provided by "LegalShield".
    • ID Protection
    • identity theft protection
    • Trust and Will management
    • Get contracts & documents reviewed
    • Monitoring of social media and dark web
    • Have an attorney guaranteed in 24 hours
    • And many more check it out in the sites or send out an email
  • How this service will help your Business
  • How LegalShield’s subscription model works and is priced.

If you have questions you can email David Dodge:

Episode Transcripts

Welcome back to the Discount Property Investor podcast. Our mission is to share what we have learned from our experience and the experience of others to help you make more money investing like a pro. We want to teach you how to create wealth by investing in real estate, the discount property investor way. To jumpstart your real estate investing career, visit, the most complete free course on wholesaling real estate ever. Thanks for tuning in.

David: Alright guys, we are joined today with a good buddy of mine, Chris Craddock. Chris is in a mastermind with myself here and I do a lot of networking with Chris, he's the man. Chris is going to come on today and he's going to talk with us about Legal Shield and ID Shield. Chris actually got me set up with Legal Shield and ID Shield probably about six months ago give or take and it allowed me to cut some of the other services that I was using and I also just love that it actually has an app, right? Both of them have apps, it just makes it really really easy. Chris, thanks for coming on today. How you doing man? Good to see you.

Chris: Brother, it's great man down here at the lake, I don't know if you see in the background and talking to one of my favorite people in the world, what gets better than that? Come on.

David: That's right, that's right.

Mike: Awesome.

David: Well Chris, tell us a little bit more about about Legal Shield and how you're using it, how a lot of your team and you know, friends and family and other people that you're working with are using it and starting to pick up on this service. I know that I love it and it's helped both Mike and I monitor not only our credit but also have the ability to have lawyers, attorneys, you know at our disposal when we need them and it's super cost-effective. So, yeah fill us in man.

Chris: Yeah, I'll tell you you know, so I'm in a situation like you guys, you know, I've got a pretty high producing business. My business this year, we're going to do between on market and off market deals, retail, you know investment deals, we're gonna do about 600 transactions this year so we're- I mean, we're just growing really really fast and anybody that's doing a lot of business is going to have a bunch of times where I mean, I bet you're kind of like I am where you're like man, I should get an attorney to check this out but on the other hand, I think this is right, I don't wanna pay 250 bucks for billable hours. I don't know if you've ever been in that situation but I've been in that a bunch of times and I'm like this is probably about right. You know, kind of that ready, fire, aim kind of mentality that most of us entrepreneurs have and when I came across that Legal Shield, it just made so much sense to me because you're paying a monthly fee and you get unlimited billable hours. You can set it up in a couple different ways, but you get the unlimited billable hours and one of the ways that they have it so that you could set it up is you also have lawsuit protection which man if you're dealing with contractors, you're dealing with just anybody that- like I have some renters, you know we're building a little horse farm here in the DC area and so we got 5 acres supposed to have in the contract, the lease agreement they're supposed to only have four horses on that property, they had 10 and they destroyed our properly, like destroyed it. Now, we're build- like whatever and so we didn't give them the security deposit back, they literally started a lawsuit against us to get- and you know, DC area prices are pretty high so, they started a lawsuit against us, the cool thing is I called my folks at Legal Shield, literally the attorney's were like look we get paid, like he doesn't have to pay anything for us to defend him so if you guys want to go through this, like we're on retainer and it doesn't cost him a thing and all of a sudden they decided they didn't want to go through that process.

David: Yeah, cuz it's gonna cost them a lot of money but not so much you. Man, that's really really cool, I love it, I love it.

Chris: And here's one of the other things, you know, just last year I traded in- you know, I like fun cars, like fun cars, but I've- I had it so I don't know if- I got a Mini Cooper in the past and that was really fun, it was like a go kart, like souped up Mini Cooper, that was great and I just traded it in for a Raptor which it is a lot more fun than the Mini Cooper, and the Raptor if you know anything about it, it's really easy to go fast and I just got pulled over going- let's just wait, let's just say it should have been a reckless, thank the Lord it wasn't, but you know, the guy could have had mercy on me but in my app if you get a ticket, cuz the speed limit dropped down like crazy and my app, if you get a ticket, you just take a picture of the ticket and an attorney from that jurisdiction will go to court for you and represent you. Literally, he got the whole thing thrown out and on top of everything, all I had to do was pay for you know, pay the 137 dollar court cost and take the online driving school. Everything was done, everything was included, it didn't cost me a thing and I know  a lot of us as entrepreneurs, we like to move fast and sometimes- anyway, we probably travel faster than we should.

David: Yeah, I got the app man, I have it right here, I love it too. I really like the ability to have the emergency service to where you do get in a car accident or you know, something along those lines where you kinda need to talk to a lawyer right away, you can do that and it connects you with somebody right away. I think it's really really cool. So, that's just the Legal Shield side of things too, I mean, I also really like- go ahead, go ahead.

Chris: Oh, one other thing on the emergency side, you know, I don't know, you know, everybody, you know, I know all of the whole, like after George Floyd and everything. Everything has been so politicized about everything but I do know this: regardless of any of the whole political arguments and debates, I do have a number of my friends that are black and sometimes get nervous and they get pulled over different places. One of the cool things is with it, like literally anytime somebody pulls you over, if you say I'd like to talk to my attorney, like a police officer is required immediately to give you access to an attorney so I know that's one of the other cool things since a lot of my friends they have this, there's 24-hour guaranteed an attorney will pick up at anytime 24 hours a day and knowing that you can just say boom, I need to talk to an attorney and every single one of my friends that are you know, state troopers, police officers, whatever, it's like one of the scariest things ever for them whenever anybody says I want to talk to an attorney. They're like oh man, I don't wanna lose my job, I don't want all the other stuff.

David: Yeah, they're not in control anymore necessarily so yeah, I think that's a really really great point man. Absolutely, love that. Another thing I really like is the ID Shield side of it. Now, this is a whole different app and different service together but if you can bundle these services and it makes it really really cost-effective but they offer some Amazing monitoring guys, so not only like credit monitoring but they also monitor your social media as well as the dark web for like your social security number or your address or phone number that maybe being bought or sold out there and they have an app so you can kinda pull up the app and at any given time in real time, you can see what your credit score is or if the bank- or you know, if somebody was gonna pull that, you can see what they would see and it's all just right there. I actually had a similar service through the Bank of America and I canceled it to go- to be a part of the ID Shield, Legal Shield because a) it has an app, b) it was actually cheaper than what I was paying with Bank of America and c) Bank of America was only giving me like 2- like 25 thousand dollars worth of identity theft protection and with ID Shield, I believe its a million. Don't quote me on that but it was way more than what they were giving me, you know with the previous service, so I love that as well. Chris, tell us a little bit about the 150 dollar business setup thing that you had mentioned earlier.

Chris: Yeah, absolutely. Yeah, and just to jump on the ID protection, you know, I used to have LifeLock and it's crazy, I'm paying less and have more coverage. Actually, I do the one that gives us up to two million in coverages where I have cover and they guarantee they will make your credit and your identity exactly where it was before everything happened if it happens but David, I think you said that as soon as you got signed up, immediately didn't you get a notification that somebody was trying to sell your email password on the dark web?

David: Yeah, like right away. Absolutely.

Chris: That's just crazy. Yeah, you found that out. So, small business launch, this or the business launch. This is one of the cool things, it's actually a lost leader where they're losing money on this, but they want to do it- they put it out there so that people will try the service and see how great the service is. What it is, I believe it's $150 and with the $150, they'll set up your LLC or your s-corp, they'll set up your corporation for you. They'll do all of your entity paperworks, all your documents, everything and they'll give you three months of legal service for that corporation as well for 150 bucks. I mean that is to me is a no-brainer and they lose money by doing that but the reason they're doing that is because they're like man, you know you just check it out, make sure you understand like this is an awesome service and it's just a service that when people hear about it as business owners, it's like the mafia, you know, a proposal, you know, make an offer you can't refuse, right? Dang, for this much? like this is just awesome.

David: Yeah, so when I got it about 6 months ago, Mike got it right after I did and then he used it to review the contracts that we are using in our own business. Mike, tell us how that process went.

Mike: Yeah, absolutely. So, I was super excited about it because I didn't have ID Shield or-

David: Access to lawyers, yeah.

Mike: Anything like that. I mean, Dave's always like oh, I've got lawyers in my family, it's like if I ever have questions like oh that's cool. I don't, I don't know any freaking lawyers.

David: Right.

Mike: This is great.

David: The average law- I think that was literally last night, I was watching one of the opportunity videos Chris and I think that they're saying the average lawyer US wide is $201 an hour.

Mike: That's crazy.

Chris: Oh man.

David: Yeah. Reviewing a contract's gonna take them an hour right? I mean, yeah it's definitely not cheap.

Mike: Well and that's exactly what I did. That's what I wanted. One was the ID protection and what you guys just talked about, reiterating all that but the small business start-up, when I heard that from the guys who were talking to me about it, I was like that's incredible. Like, we literally could- I mean, anyone who talks to us is like hey do this instead, like I would have done that in a heartbeat when I started out. Our documents still probably aren't right, you know, like we just need to send them back in. So, that's awesome but what we did day one, we took- I downloaded the app and I sent them our contract that we give away or that we use in our wholesaling business, we also give it away in our free courses and I said hey, is this contract legit? like-

David: Yeah, or what's missing, is there anything that stands out that could be better, right? and we just wanted them to review it and I remember you were on call with them when I walked in one day and they were going through the contract line by line.

Mike: Oh, it is, it's unbelievable.

David: They were making suggestions on how we can make it better, they had questions about certain things that we hadn't or didn't think were necessary so we definitely changed and modified it, but it was just really nice to have an actual real licensed practicing attorney look at the docs, review the docs.

Mike: Yeah, and somebody on your- again, you feel like they're on your side, like they're there to help you create a document that is going to be legally binding and helpful for you and your business. So again, it was very very cool. I mean that was just my very first taste of it and it's really, you know, the extent of which I utilized it to this point. So again, we use more.

David: We haven't even mentioned like trust wills, power of attorney, you know all that stuff is included with the membership which is really really awesome. Most people don't have a will, you know, they don't know what a trust is, they don't know what a durable power of attorney is which could be very helpful if you are incapacitated or you get injured and you're in the hospital, right? Having all this stuff prepared in advance, I mean a lot of times, lawyers, they're gonna charge you several thousand dollars to prepare these docs and you can get them prepared with the cost of your membership over at Legal Shield included, you're not paying anything on top to have these done, it's really really really awesome. What are we missing Chris? There's so many different thing that they offer, I know there's a couple things that we're missing here.

Chris: Yeah, so one of the first things that happened to me, you guys are talking about the contracts, one of the crazy things for me was I realized in my contract, it doesn't say what happened if you broke the contract for one of my contracts that I goy- given. So, people can break it and they're like well, then you gotta figure out what would damages be and what you know, like all the sudden it was tough so kind of helping you revisit your contracts, just a really really huge thing there. Yeah, the other thing is yeah, they have an attorney if you get audited. They'll represent you at you know, when you get audited which I think its-

David: Oh yeah, the IRS audit protection, that's cool.

Chris: Oh, I mean, I think that's everybody's- thank the Lord I've never been audited but I think that's everybody's biggest fear, right? You know the audit adjustors kinda like a dentist times a thousand, you know, it's like the worst and so you have that and yeah, you talked about the will. I mean a will, you're looking at a minimum of 1500 bucks to get a will done and that's included for free and they'll update it once a year so yeah, it's just a biggest no brainer ever. Yeah, so that's you know, that's a huge thing for us is just making sure that all those are taken care of and frankly here's the other side, you know, we use this in our business as well especially our retail business because anybody that owns a home, if you don't have a will and you have a family, I mean, that's just foolish. I mean, you're setting yourself up to put yourself in probate which I mean, anybody in the investor space knows probate is a pain [inaudible] The will done so you can avoid that for your family cuz you see probate for the other people, you know, and we can go in and solve problems and everything like that but why create the problem that your family's gonna have to go through, you know? Get that done and just make it easy so yeah, anyway those are just some of the things that I think are just, it just makes it such a no-brainer, you know?

David: Yeah, absolutely, absolutely. Guys, if you wanna learn more about it, contact Mike and I below this video or podcasts or however you're hearing or seeing this, there should be a link to learn more about it. Chris is a member, Mike's a member, I'm a member. I love it because it's the most cost-effective way to have a basically legal team in your business or you know, at your disposal but it also gives you the ability to monitor your credit, monitor your passwords and monitor all these things that you don't want getting hacked and don't want getting breached, right? So again, below this video there'll be a link or go check out the podcast site there'll be a link as well where you can learn more about that. Chris, what am I missing? I know there's at least one more thing.

Chris: Yeah, I mean those are the main things but you know, I don't have much to add other than it's just the biggest no-brainer ever you know. I've got a big business, you guys have a big business, even when you have a smaller business, I mean if you have a smaller business, I mean that's the crazier thing is if you don't have a ton of income coming in and you get hammered by a lawsuit or you get hammered, I mean that's the other big piece is you know, the lawsuit protection. I mean literally that's- I mean, it's like the IRS, it's like one of our biggest fears is a lawsuit where I mean, I was just talking to a friend the other day where somebody was threatening a lawsuit and he's just like, you know what it's easier to pay him off than it is to go through the lawsuit versus saying hey, I've got lawsuit protection. I don't even have to show up in court, they're going to go take care of it for me. You know, it's done and that was I mean heck, we're in the real estate investor market, you know, I teach a kind of a series on negotiations and one of the big ones is always negotiate from strength. Ronald Reagan used to talk about that, negotiate from strength. That's how he worked the Cold War and in my opinion won the Cold War because he negotiated from strength with the Russians and was able to win the Cold War. You know, Teddy Roosevelt, speak softly, but carry a big stick. I mean, this is your big stick. It's unbelievable like that is it. Anyway, that's the whole thing, if you wanna negotiate, you always want to be the one negotiating from strength. This gives you that place to negotiate from strength.

David: I love it. Chris, thanks for coming on today, thanks for talking to us. Thank you for your time, we're grateful for your time. We love talking about this as well. Guys, if you do not have Legal Shield and ID Shield already, you're missing out. As Chris just said, this is a no-brainer for the small monthly cost, you're basically going to add a legal team to your business, which is like the most amazing thing, but then also gives you the ability to monitor credit, so on so forth. Check out the link below this video or check out our project site to learn more about how you guys can sign up. We're gonna be bringing Chris back next week , we're actually gonna be talking about becoming an associate which means you can get paid to spread the word just like we're doing today. That's gonna be a later episode and Chris, we'll be bringing you back next week  to talk more about that but in the meantime, click the link below this video or check out the podcast website so you guys can get more information about the Legal Shield and ID Shield program as well as information about where you can go to sign up and learn more. Chris, thanks for coming on today buddy, always a pleasure talking with you. Signing off, we'll see you soon man, thank you.

Chris: Thanks so much.

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