R/E Attorney Recommendations?
9 Replies
Lisa K. Bruno
from Plano, TX
posted 5 months ago
Does anyone have a recommendation for R/E attorney near Plano/North Dallas area? We need assistance setting-up LLC and need an investor-friendly attorney to add to our team.
Poem Turner
Real Estate Agent from Georgetown, TX
replied 5 months ago
@Scott Smith is based in Austin, but works with folks all over TX and the US. Highly recommend you speak with him and his team.
Rob Lee
Real Estate Agent / Investor from Dallas, TX
replied 5 months ago
We used Legal Zoom to set up our LLC.
Lisa K. Bruno
from Plano, TX
replied 5 months ago
Thank you very much Poem!
Lisa K. Bruno
from Plano, TX
replied 5 months ago
Thank you Rob. So far so good with LegalZoom LLC?
Rob Lee
Real Estate Agent / Investor from Dallas, TX
replied 5 months ago
No issues to date.
Bruce Lynn
Real Estate Broker from Coppell, TX
replied 5 months ago
I found this site that gives a pretty good overview.
https://www.llcuniversity.com/texas-llc/
For legal matters you can do it yourself and it works until it doesn't. For example I see a lot of people set up their LLCs as a tribute to themselves. Bob's Rental Properties, LLC or Big Dave's Investments, LLC....well if you're looking for anonymity, you just lost it. Also I see a lot of LLC set up to their home address or sometimes a business address. Not hard to track down people that way. Having a registered agent for example might solve some of those issues too. Attorney's will often give you some good tips about what you want to accomplish. Maybe it is just ease of transfer...have 10 properties and you pass away, you don't have to redeed everything to the heirs....just transfer the LLC. Might also be easier to gift each year a portion of the LLC to the kids, or sell the LLC instead of individual properties. Lots of options or ideas. Think about why you are setting up the LLC and your goals before you go to talk to the attorney.
A good attorney will also help keep you out of trouble, but helping you to decide if you need to keep or file additional documents each year in conjunction with your CPA.
Lisa K. Bruno
from Plano, TX
replied 5 months ago
Thank you so much Bruce. I will check out the website.
Ronald Rohde
Attorney from Dallas, TX
replied 5 months ago
Originally posted by @Rob Lee :We used Legal Zoom to set up our LLC.
I have no issues with Legal zoom, but people should be aware of the limitations.
You don't get an operating agreement with changes, you don't get to ask any questions, if you operate the LLC improperly, you defeat the entire purpose of the LLC to begin with. A flat fee lawyer is more expensive, but provides a different service.
Lisa K. Bruno
from Plano, TX
replied 5 months ago
Thank you so much Ronald.