R/E Attorney Recommendations?

9 Replies

I found this site that gives a pretty good overview.

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.

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.