Wholesaler · Knoxville, TN · Member since 2016 · 247 posts · 76 votes
Hello BP Investors,
Ben Barredo here with another question. I'm full of them.
When is it time to find a lawyer? I'm guessing that it would be a good time to find one as soon as I decide I want to attempt to pursue contracts as a wholesaler, right? I haven't gotten one yet but I am actively mailing and calling leads so I'll have it any day.
To add to that question, what type of questions should I ask. I am the kind of person that tends to go blank for the first couple of minutes until I start to feel comfortable - I guess I suffer from tiny bit of anxiety. So I like to have questions written down before entering into a discussion.
I would find a lawyer ASAP that you trust. Don't wait until you find a deal because you could lose it if you take too long. When you sit down with him or her, tell them what your plan is from the beginning to the end. Real Estate investing doesn't have any secrets, its all about the leg work. He or she will be able to walk you through the correct contract for your situation. All you will have to do is fill in the details for each deal once you have the blank contract.
If you want to make sure they are a good fit for you, ask them about their experience of working with real estate investors and what type of deals/contracts they used in the past. They should have instant answers if they have done it before but don't be afraid to ask for a referral if you are looking for a lawyer that has more experience in real estate.
Attorney · Santa Cruz, CA · Member since 2015 · 345 posts · 358 votes
9y
Important things to know about a lawyer:
Does she have time to take you, and will you be a priority? Lawyers can be pretty busy and stack up a lot of clients. It's good to know if you'll be 5th in line or 500th.
Has she done the type of agreement that you need recently? Can she give you examples of different ways to structure that sort of agreement?
Will she help you with the negotiations if you need help?