NEED ATTORNEY IN HOUSTON!!! - Posted by Margaret

Real Estate Investing
#1

Posted by Matt B on January 26, 2001 at 15:59:53:

I do not have my attorney look at every deal I do. I have had my attorney look at deals that become problems. I also have my attorney handle evictions. (Only had one of those so far.) Having my attorney review the contracts that I was going to use to do “creative” deals turns out to have been a good idea since he added a clause or 2 that have saved my behind in some potentially bad situations.

I figure it’s a darned good idea to find a good attorney before you even start doing deals for many reasons. When you are eventually sued (and according to my attorney, when you’re in business, it’s not a matter of if you’ll be sued, it’s a matter of when) it is nice to already have representation instead of scrambling to try to find a decent attorney fast.

If you’re more comfortable without representation, that’s fine too.

#2

NEED ATTORNEY IN HOUSTON!!! - Posted by Margaret

Posted by Margaret on January 26, 2001 at 14:58:58:

I am looking for an attorney to work with for future deals in the houston area…

#3

Re: NEED ATTORNEY IN HOUSTON!!! - Posted by Charles Steed

Posted by Charles Steed on January 26, 2001 at 15:14:05:

Margaret-
Why in the world would you ever want to involve a lawyer in your business unless it were absolutely necessary? Lawyers are trained to find problems, and when they can’t find them, they usually create them. Stay away from lawyers unless you have a real problem - and you’ll easily recognize a real problem should one arise.

#4

WHOA!!! - Posted by Matt B

Posted by Matt B on January 26, 2001 at 15:36:17:

My own real estate attorney has been a LIFE-SAVER for me more times than I can count! I cannot IMAGINE being in this business without having a good real estate attorney on your team! In my opinion, it would be a HUGE mistake to just think “all attorneys are bad” and avoid getting one on your side.

Who else is going to look over your contracts and make sure there aren’t any problems or changes that need to be made for your state? Who else are you going to go to when that one person sues you and accuses you of trying to “scam” them? Good legal advise is an absolute MUST in this business!! How many deals have you done without the protection of a good attorney? I’m hoping not too many.

Margie, keep looking for that attorney. It is VERY important to find a good one that you can go to for legal advice when needed.

#5

Re: WHOA!!! - Posted by Charles Steed

Posted by Charles Steed on January 26, 2001 at 15:49:20:

Matt-
I’ve been in this business since 1982. I’ve done more than 300 transactions. I’ve used an attorney twice. I don’t need a lawyer to review contracts, as I have a good working knowledge of them.

Being sued is obviously a situation where you’d want representation. In my experience inviting an attorney to look at a deal is like inviting a government official to inspect your property. It’s a sure thing they’ll find a problem. If you’re more comfortable with representation, that’s fine.

#6

A fool for a client… - Posted by Bud Branstetter

Posted by Bud Branstetter on January 26, 2001 at 16:15:07:

Sorry, I couldn’t resist.