Investing in 3 States. Use 1 attorney or use attorney per state?

4 Replies

Hi Everyone,

I’m investing in 3 different states. Oklahoma City (OK), Philadelphia (PA) and Rochester (NY). Should I be using 1 attorney for all my transactions and advice or should I be working with 1 attorney per state? What are you guys doing?

And if I’m already asking about attorneys, does anyone here have an attorney in any of these 3 States that you would like to recommend? Name and Firm please.

Thanks!

Hi @Zev Dobuler - I have one attorney I use for my business and personal needs. They review estate planning, contracts, or basically anything else I need. But when I do real estate closings, I use an attorney that has passed the bar in that state.

Have one attorney, like you have one general CPA. But then use a closing agent and or attorney in that state and county where the deal is closing. You should have a general attorney that you use for your deals with your investment company that works with you and your CPA to oversee you're overall needs. 

Brian Bradley, Attorney in California (#266693), Michigan (#P77453), and Washington (#50116)

The saying goes "it's not what you know it's who you know" & all depending on your needs. In my personal view for every situation there is its own expert. Having multiple attorneys is probably the best choice. My personal example is this: ( a few years ago, we were financing a wonderful commercial property, deal fell through because an out of state bank representative guided us to apply for the wrong financing product that wasn't available in our state. Fast forward a few weeks, appraisal & deposits are lost, both sides are angry. My personal attorney told me it will be too expensive to go after a bank to make them liable, and to just take a few thousand dollar loss; and so did a few other attorneys. But searching around for about half a year found a guy to who it was worth the hassle. It took a $250 dollar letter, and some time and we reached a settlement.) Good luck.

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