Santa Maria, CA · Member since 2018 · 1 post · 0 votes
We are looking forward to our first meetingor consoltation with a Lawyer today, to talk about the legal aquistion of real estate in our area. I'm just a little nervous about what to ask and how to use our hour with him wisely. I have direct mail marketing drafts to show him to make sure we aren't breaking any laws by mailing them out. I also purchased a contract for the sale and purchase of real estate and I'm going to ask him to add any needed clauses for this area.
I haven't met with a lawyer before, so any other suggestions on what to ask or bring would be great!
@Bridget Acosta Finding a real estate lawyer that is an investor and good at their job might be a lifelong hunt...they are very very rare. There are definitely some smart lawyers out there, but they will run between $300-600 an hour in the Midwest...and I would imagine where your at it's higher. I would be definite on the exact services you need...else your $2,000 retainer will disappear with a "poof"...
You may be better off pursuing a contract specialist if your looking at contract law. Real estate law is a big game and there is not a lot out there for small players (if you're not buying $5million in RE annually or syndicating)...I personally use lawyers to structure complicated deals I can't figure out, to provide a letter of intent, draft contracts, and close deals.
I found a 40-yr RE lawyer who drafts a note/mortgage for $250...worth his weight in gold....I would caution going with a lawyer that does not own investment property or work exclusively in RE.