Wholesaler Friendly Real Estate Attorneys in Milwaukee, WI

Wholesaler Friendly Real Estate Attorneys in Milwaukee, WI

Katy, TX · Member since 2013 · 23 posts · 1 vote

Hey wholesalers: Does anyone know any real estate attorneys who work well with wholesalers in Milwaukee?

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  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    12y

    @Joshua Hawkins, I don't have any specific person to recommend, but I personally been using Legal Shield (formerly Pre-paid Legal). Used them for about 8 years, only $17/mo - saved me $$ thousands in legal fees. Check them out.

  • Katy, TX · Member since 2013 · 23 posts · 1 vote
    12y

    @Dmitriy Fomichenko Yeah, somebody else suggested the same thing to me. I will definitely take your advice into consideration. Thanks so much.

  • Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
    12y

    Join the local REIAs and ask who folks use for their closing lawyer. Use what other folks use. Near term google real estate closing autorney Milwaukee. Then call and interview a few.

  • Katy, TX · Member since 2013 · 23 posts · 1 vote
    12y

    @Curt Smith What kind of questions would you recommend asking during the interview process?

  • Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
    12y

    1) do you simultaneous closings? You may not want this type of closing to keep the seller and end buyer out of the same room but it's a test question.

    2) do you do back to back closings?

    3) Have you seen transactional funding in back to back closings?

    4) have you closed back to back closings where the first closing (A-B) was funded from funds from the end buyer who's in closing (B-C).

    5) what problems have you seen with closings where end buyers funds where used to close A-B? How did you solve those problems.

    6) who's your title company? Is this title company a big player in Milwaukee or a small fry?

    7) who much do you charge for a back to back closing? What's typical title insurance for a $100k property?'

    8) start to finish how long does it take to close a back to back closing with you assuming nothing unusual in the title search? This will sort out how efficient they are and how fast the title company is. As a wholesaler you DON'T want to use some putz who takes 2 weeks to do a closing! I think 4 days to rush a closing would be reasonable, maybe even 3 days, but typically 5 days or more here in Atlanta.

    Questions #4 and #5 will sort out the ametures from the pros. Probably others, but these come to mind for you being a wholesaler.

    Little known: real estate lawyers are just the front end to the title companies. Its the title company who you are really hiring. Title companies FIRE lawyers who screw up and those lawyers end up hooking up with smaller and smaller title companies who charge higher and higher fees. Top lawyers can work with the best title companies. You'll figure out who that is by calling around enough and playing what one lawyer says off another.

  • Katy, TX · Member since 2013 · 23 posts · 1 vote
    12y

    @Curt Smith This is great information! I will definitely be employing these methods that you have recommended. Thanks a lot!

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    12y

    Wholesale friendly?

    I'll bet any real estate attorney there will be friendly, they get even friendlier when you pay them.

    If you mean those that advise you not to do some screwy, dumb. stupid, hair-brained, unconventional, guruized, scamming or illegal activity, they aren't being unfriendly, to the contrary, they are probably being very friendly keeping you out of trouble you can't afford to get into.

    Call Realtors in the area and get references for a good RE attorney, see who the Board of Realtors uses or has used, ask your lender for the names of three good ones.

    Forget about trying to get a good attorney to advise you to do things you shouldn't be, adapt your methods and strategies to their advice! Then everyone can be friendly. ;))

  • Katy, TX · Member since 2013 · 23 posts · 1 vote
    12y

    @Bill Gulley Hey, you just give me some ideas I didn't think of. I will definitely take your advice into consideration. Thanks a lot!

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