Questions to ask attorney

1 Reply

I'm meeting with a real estate attorney about setting up an LLC for my young real estate business. I'm not sure what questions I should ask her or what I should be looking for from her. What can she help me with? Could anyone share their experiences with their attorney with me? Thanks in advance.

Hi @Ryan Ridgley ! Your first question should be "Who else have you set up with an LLC and can I talk to them?" If your real estate attorney specializes in closings, they might not be the best choice for entity structuring advice.

You should be crystal clear on your own objectives long before you engage an attorney. Are you a fix-and-flipper or a buy-and-holder? Will it just be you, or are other parties involved? Do you currently have assets you need to protect from your business activities? What will be your exit strategy? Only you can answer these questions, although an attorney will gladly sit across from you while you do so... at $250/hour!

I suggest finding someone in your market who already is doing what you want to do, and talk to them about what entities they have in place. Then, get a referral of their attorney and go meet with that person.

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