How to find good RE Attorney - Investor Friendly?


#1

Any recommendations on how to find a quality RE Attorney who is investor friendly for providing (writing up) wholesaling contracts/putting properties under contract, assigning contracts (if needed), etc.?


#2

R.E. Attorney

Most contracts you mention are simple - I have bought properties writing initial contact on a napkin, as well as on the back of a business card… Buyer, seller, price, date, deposit, who pays what closing costs, when and where it closes, and any special things (includes items, as is, etc.). Doesn’t have to be complicated. However, if you want to be protected, dot I’s and cross T’s, etc., I recommend finding a local attorney who owns significant R.E. of his/her own. Ask around at a local REIA. Reason - eventually you will likely need/want other services, such as leases, evictions, RTO forms, etc., and there will be local laws involved as well as national. You can pay a guru and get good stuff, but if you do, you best pay a local RE attorney to check it all over anyhow - most gurus have great knowledge (and probably spot on, for the location where they operate). Gurus can’t know every nook and cranny for every country, state, etc.
I study constantly, and when I see something I like, that seems reasonable, I check it out some, and most likely add it into my forms. Every so often, I pay my local attorney that owns a bunch of rentals to check over my forms, make suggestions, give me tips, etc. After 15 years in the business, and being a study nut, my R.E. attorney, on my last visit, said I have the best paperwork he has ever seen, and asked to borrow some of my stuff. Got me thinking, who should pay who here? LOL! I intend to get with him again soon, as well as my local CPA, to go over my big picture strategies, and make sure I implement the best plans for me going forward. What makes the most sense changes over time, as our situations change. Beginner - focus on building the wealth (protection and tax planning likely to be secondary). Already wealthy - focus a lot more on making sure it is protected. High income - emphasis on tax planning.

Hope this helps.

Best wishes,
Chris in FL