In the state of Missouri do we use Real Estate Attorney or a Title company, or does it even matter?
Title company. An attorney to do creative financing.
@Vince Mayer So I'm guessing you would use a Title Company for transactions that are more traditional like financing through bank?
@Deangelo Mack Yes sir.
Thank you so much @Vince Mayer
Im kind of having a little trouble finding a attorney . It seems either they've never done creative finance transaction or they just don't want to be bothered. Can you give any advice when contacting a Attorney.
As an attorney who frequently gets flybys, I can tell you that a very odd, out of the blue request is never all that attractive, especially if it's from someone I've never spoken with before. You'll need to get very specific about what you want from the deal and find someone who lives in real estate law. It is a very limited practice area, at least in my neck of the woods.
Would it make the call less random if I had a property in mind?
Let me clarify. I am in Iowa, obviously, but I am trying to give my perspective on when I get approached by investors seeking legal advice. If someone approached me and said, I am looking for alternative financing, I would ask if he had the money lined up (or at least a source in mind). If he did not, I would perceive it as a brain picking request. Not necessarily bad, but I have a time for that kind of stuff, and it's not when I am trying to earn my living doing legal work. If someone said, "I have a funding source, and I'm trying to figure out how to draft a contract/business docs to effectuate our intent," I would know he is ready for the lawyer.
So, that said, I guess my question would be - do you know what you have to work with, or are you more in the range of looking for suggestions? If it's the latter, only attorneys who are themselves investors - or who do a lot of work in the industry - are going to be able to help you out. So what specific stage are you at?
Im gathering my team necessary to carry out a subject to transaction