|Hiring A Real Estate Attorney
Hiring a Real Estate Attorney for your team is one of the most important decisions to
consider when first becoming involved in real estate investing. The right Attorney will keep you on
tract and lessen your liability in your real estate investments. I would not and did not start
investing until all my paperwork was State Specific, meaning it was not some generic paperwork
offered in an office supply store.
I subscribe to Lexis to do my real estate law research. Since I do sell a real estate
investing course, it is important to me in keeping knowledgeable of the latest court decisions
regarding real estate. Lexis is really for Attorneys and is somewhat expensive for the layman to
subscribe to. However, since I am a serious professional investor, I feel it is important to stay on
top of my profession. Subscribing also cuts down on attorney time if some of the research is done
before a consultation. I never advise my students regarding real estate law. But, I might recommend
they have their Attorney look at a certain case to help them should the occasion arise. There is a
small service at www.versuslaw.com that charges about $9.95 a month. This would be all you would
need if you if you want to keep up to date on cases and decisions.
After you select two or three Real Estate Attorneys from a list you can get from
www.martindale.com or www.law.com, which shows their qualifications. I would then go to the Court
House in your area, check with the clerk there and ask to review cases in which those Attorneys
have been involved and most importantly whether they won or lost their cases. If you are going to
hire an Attorney make sure he is a winner, or at least won the majority of time.
Questions to ask a prospective Attorney?
- My first question would be; what experience do you have in creative real estate investing such
as (use the method that you use for investing) Subject To investing? If you get an off-in-the-distance
stare as he contemplates what to tell you, be assured he does not have the first clue. The Attorney
should be open to and understand creative real estate investing. This is very important in making
your final decision. The Attorney must be very attentive to your needs; he lets you discuss your
method of investing then responds in a forthright manner.
- How much of your practice is in Real Estate? Depending on your market size it should be at
least 30% to 50%. In smaller markets there would be less need for an Attorney to devote all their
practice to real estate. 5 years of Real Estate law experience would be the minimum acceptable to
- Do you have other Real Estate investors as clients? If so, ask if you can contact them for
- What are your fees? The size of the law firm is not an important factor except larger firms
usually charge more because of their overhead and are not as available to you as a smaller firm. The
price the Attorney charges are not as important as how well he works for you, with you and gets the
job done. The old adage you get what you pay for applies here.
- Do you work with other real estate professionals? The Attorney should be able to recommend and
refer you to other professionals such as CPAs, Mortgage Brokers, (for Refinances), etc.
These are a few things to look for, but what I feel are the most important to me and
hopefully should be for you too.
John "Cash" Locke
Hi, my name is John 'Cash' Locke and for over 8 years I have been quietly buying and selling houses
for fun and big profits. Now you can use the Same Magical Words I Used to Buy Over 500 Houses And Start
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