Why hire a lawyer when you can DIY?!

Question

Eviction? Pffft why pay a few hundred bucks when I can DIY and have them out in under a year?!

Leases? Not a chance. They're free online! What could go wrong?

Flipping contracts? Why? So they can tell me it's not legal? I read it is on BP I'm good!

Bridget Y. · Answer

One benefit I have hear of for using a lawyer is that they have practice insurance. If there is a mistake on one of your contracts and you loss in court,  the lawyer's insurance can cover the cost of that mistake which can save you some big bucks!!

Angelo Mart · Answer

I am located in a Tenant friendly state. I opted to use an attorney that has been practicing landlord / tenant laws in my state for over 30 years. Btw he also knows all the judges. I prefer to DELEGATE this task. Better safe than sorry

Patrick M. · Answer

If you operate as an LLC you must hire a lawyer in Many states. While this may not be preliminarily enforced by the court, it will be enforced when raised by a tenant or tenants lawyer. This will become more common place as more jurisdictions provide more free legal counsel. And then you lose another month.

And along those lines- for those who believe the LLC is the magic liability bullet- by operating as though it doesn't exist you are giving yet another avenue for the veil of the LLC to be pierced.

But I highly recommend every landlord who can to go spend a day or 2 in LLT court. There is not a lot to it as long as you paper your tenant when appropriate, always deal with issues as though they will be reviewed at some future date by a Judge. Paper, paper, paper.

Account Closed · Answer

This is really more of a general question, but if you are using a unique purchase agreement does that require a realtor on the other side to hire a lawyer to interpret and comment on it? I know there are some gray areas with realtors 'practicing law' but it seems like a non-standard form would require an expensive legal review and negotiation process.

Shane H. · Answer

I'll reuse leases or contracts previously reviewed by my attorney but if he screws up my contracts he has to fix it. If I print them offline I'm just agreed. I pay experts to do what they do. Just like my customers pay me.

Account Closed · Answer

@Shane H.your question is very broad so my answer is broad as well. The answer is it depends. Some folk feel it important and sleep better at night. As of now I do all my Owner  finance closing through an attorney even though I could do the docs myself, it adds credibility to the closing and it makes the buyer feel as warm and fuzzy as could be expected.

As for as leases not to many landlords or tenants would expect to go through an attorney.

Shane H. · Answer

Agreed. A few hundred can save you thousands or millions depending on the size seals you're doing!

Shane H. · Answer

I'm with you. Even if it's something I think I can handle, I atleast seek the advice of an attorney. Mine let me know if they think I can handle it myself. Take my operating agreements... I am capable of changing the name on the agreement if it's a single member LLC and I'm creating another identical one for a different property. But the attorney supplied the first one. The I'll do it myself mentality to me is such small thinking. I plan to own huge businesses and large pieces of commercial real estate. Can you see Donald Trump in court handling his own eviction case?! Hahaha

Shane H. · Answer

My primary business is commercial truck repair. And u get a good laugh Everytime someone tried to save $100/hr and do something themselves. 1: often times it cost them more to do the repair. 2: I believe in doing the thing you're extraordinary at and hiring out the rest. A great example was when I was asked to look at a vehicle that they had already put $300 of parts into. The repair when properly diagnosed required no parts. A minor adjustment. I was on it for approximately 5 minutes and charged them $20. I should have whacked them $300 for my expertise, but I have a good relationship with them. Just because you can do something, doesn't always mean you should.

Dennis M. · Answer

That’s a great analogy but I don’t always need to hire out for an electrician or plumber if I have the knowledge and skill set to do it myself and of coarse the time  . It seems People put too much faith in doctors and lawyers giving them a god complex many times that is undeserved .I think it’s a good idea to have a lawyer , I’m not against anyone using a lawyer and couldn’t fault anyone for seeking competent legal counsel ,I’m just saying if it’s something I can do feasibly with a reasonable chance of success I will make every effort to do it . That being said I probably wouldn’t defend myself in a murder trial but I would in a eviction hearing because I’m not afraid to lose and know what to expect .

Why hire a lawyer when you can DIY?!

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