Rental Property Investor · New York, NY · Member since 2018 · 5 posts · 10 votes
So my wife and I want to make the right call for our real estate attorney. Spoke directly with Royal Legal Solutions and really liked what they had to say. It’s an all inclusive type plan in which RLS would take care of all of our needs. I’m in the process of speaking with other attorneys trying to get a sense if RLS is the right choice. Are there any folks who have moved forward with Scott Smith and his team who wouldn’t mind telling me how you like there services? Anyone who used other attorneys before RLS would be great to in understanding the differences in services that Scott and his team provide above and beyond other RE attorneys. I’m leaning towards RLS but need more comparisons in order to complete my due diligence. BTW we invest in Dallas which is another reason I want a RE attorney in Texas proper.
@Zack Korenstein I recently signed up with Royal Legal Solutions for their "Free LLC" and monthly office plan ($49 a month). Which if you get an LLC with them you are required to either pay a yearly compliance fee ($200) or a monthly office fee which is supposed to include access to their legal and tax advice.
I initially talked to Eduardo (mentioned in another post) who fielded me to Tom where I paid $150 for a consultation I did not need at that point in time (although Tom assured me I could talk to him and redeem the consultation once I was in need of his services). I then started working with Crystal who is awesome and answered all of my questions.
I will say they appear to prefer to work with me via email versus over the phone as I set up an appointment with my assigned customer service agent and she cancelled the appointment. Then I called her and she told me she preferred to receive inquiries via email. So now I'm waiting for her to hopefully get back to me via email. Needless to say I am a little concerned about the communication. I signed up two weeks ago and only learned today that the process for the LLC takes 6-8 weeks. I'm hoping they will be more transparent with me in the future. I doubt I will ever get to work with Scott although I do love his podcast. I can keep you updated on the progress of all this if you'd like.
Hi Bradley, please DM me if you are willing to share who you went with in Miami. I subscribed as a Platinum client with Anderson. While I love their seminars, they seem to provide no personalized advice for their clients. The service between CPA, strategy, and legal was generic and uncoordinated. I never got my personal best strategy based on my properties, other income, and RE cash flows. With Royal Legal, Scott is great but the initial numbers and what was subsequently quoted were quite different, and I have some concerns on the series llcs, even though they have matured a lot. Financial institutes like banks and other lenders still don't always understand them. HTH
I decided to seek out a professional in my local market (Miami, FL) and I have not been asked to pay an upfront fee by any of them for the first consultation. Just curious, do you charge an upfront fee for an initial client consultation? Thanks for your feedback.
If you were misled, it's never a good start. However, often it's simply miscommunication.
Policies on initial consultations vary widely, and mine have changed more than once over time. Free initial consultations are pretty common, but we do not offer them anymore. In my firm, we have an initial qualifying call with either my tax manager or myself. It is free, but it is not a technical consultation. We discuss your business, our services and trying to determine if there is a fit.
But, like I said, every professional does it differently.
@Michael Plaks your policy as you describe is much more professional and palatable. In terms of RLS, there was no miscommunication and it was 100% misleading. Thanks again for your insight, I appreciate it.
Just spoke with RLS myself. I told them I was looking for trust because a series of LLCs while keeping assets separate do not meet the needs I'm looking for. I asked them if they could set up a business trust and personal trust, they said yes.... then proceeded to talk like the series LLC was a trust. I was expecting to speak directly with someone who would be knowledgeable.... all I got was a sales person. Who then like others said, wanted 150 dollars to talk to an attorney who then would give me a custom plan and a custom quote. Well I've had custom quotes ranging from 3k to significantly above already and it didn't cost me a dime to speak to their attorney. They would do so much more business if they just didn't have the 150 dollars cost upfront. I will personally be passing, doesn't sit well with me and the lack of knowledge doesn't build confidence.
This is an interesting thread. I do not have any relationship with them but do know they seem to be extremely knowledgeable. One thing that stuck out here is the navigation and coordination of legal/asset protection and CPA/Tax services. Our firm decided to integrate the two a few years back because of the constant push/pull and inconsistent advice between the two services...thus, we determined finding a strategic legal/asset protection partner, versed in our tax planning, was the correct route to go for our clientele.
@Michael Plaks I agree with what you are saying to an extent; however, my issue was not with trusting them with my money. When I scheduled the initial call after going through their initial process, I was led to believe that I would be speaking with an attorney from their firm. Instead, I received a call from what seemed to be an out of country virtual assistant who provided no additional information and promptly asked for my credit card number to schedule the consultation. This really caught me off guard and I personally felt as if this was a bad way to establish a relationship with a new client. Instead of going with RLS, I decided to seek out a professional in my local market (Miami, FL) and I have not been asked to pay an upfront fee by any of them for the first consultation.
Just curious, do you charge an upfront fee for an initial client consultation? Thanks for your feedback.
Hey I stay in Miami and very curious on who did you end up going with to help you structure everything. I tried getting in contact with rls and it’s been hell I know this post is old but I am in need of some great customer service and asset protection team
Hi, I know this is an old thread . . . but am curious if anyone has any other feedback regarding Royal Legal Solutions (RLS). I've listened to a few of Scott Smith's podcast and like what I have to hear. As of this week, I had an initial phone call with a Paralegal named Lorraine from RLS, who seemed knowledgeable and was able to answer 2 of my 3 semi-complicated questions. We're looking for Asset Protection and Estate Planning. She advised me that the next step is to schedule a $97 Consultation with an Attorney. This consultation is refundable if I get no value from it. I believe that after the consultation, they would give us a quote based on what we're looking for. It's been a few days and haven't heard anything back yet. She did ask on our call if $25,000 would be a price tag to consider for asset protection. I said that was really high and that it's more about the value of the services we'd be getting.
If you moved forward with RLS, curious to know what your experience has been - the good, the bad and the ugly and/or if clients of yours have had any feedback about them as noted by @Michael Plaks.
Thanks so much and happy to share any updates I receive.
Royal Legal provides an important service that helps you protect your assets. While the protection is valuable the cost is very high.
The initial process is very smooth and thorough. They follow up to ensure you're clear on the next steps.
Post-sign-up (onboarding) is where things start to come undone. You get an initial call with an attorney and you never hear from that individual again. There are a ton of action items requested after the information overload that takes place without much proactive follow-up.
For us, we didn't hear from Royal Legal after the attorney call for several months. When we reached out we were told that the deeds had not been transferred and we owed them some notarized documents. No check-in. No reminder.
Upon completing our task we waited another month. No communication again. It wasn't until we checked in that the deeds happened to be recorded. Then quickly asked to pay more fees. And we're still waiting on the last deed, which we're assuming we'll have to continue to check in on.
We asked for an entity structure diagram to share with our CPA and that also took several reminders.
Trying to set up a bank account with their recommended bank was very confusing. We had to ask many questions just to start the enrollment process.
We also have 2 strategy calls we just discovered we had. Unsure what we're supposed to discuss, but this would've been helpful earlier on.
Overall this has been a poor experience given the cost. There's a severe lack in proactive support and you're left wondering if they value you at all. Royal Legal came to us as highly regarded, but given the after-sales care, we'd give it 2 out of 5.
Any recent reviews from people working with Royal Legal Solutions? I am looking for help with entity structure, asset protection, and estate planning. I like their concept, but it feels a little salesy. Just wanted to see how it’s working for actual people out there. Thanks!
I learned about their service in November of 2019 and signed up for their land trust setup back in January 2020. They were good about getting in touch with me for the docs they needed to get things going and setting up the LLCs. I already had one property to put into the trust. They also seem to be keeping up with the LLC state filings every year (I check the secretary of state website from time to time). I don't recall speaking to someone who might have been from overseas.
I watch alot of content from Clint Coons, Toby Mathis, and Mark Kohler on the topic. If there is hesitation to go with Scott, it may be worth checking out those guys and also getting recommendations from other investors about who they use.
@Madelaine Au wondering if all worked out with Royal Legal Solutions. I am in the same boat, had the consultation and wondering/deciding if going forward with them. the price tag 10,000 scared me. thx-
I got a quote of $19K today. Does price depend on state of residence ?
If you do the consultation, you want to be clear on which entities are Operating Entities and which are Holding Entities. And which manager managed vs member managed and what agreements needed between the entities and who provides and maintains. It's a big fuzzy hot mess.
This is an interesting thread. I do not have any relationship with them but do know they seem to be extremely knowledgeable. One thing that stuck out here is the navigation and coordination of legal/asset protection and CPA/Tax services. Our firm decided to integrate the two a few years back because of the constant push/pull and inconsistent advice between the two services...thus, we determined finding a strategic legal/asset protection partner, versed in our tax planning, was the correct route to go for our clientele.