Mr. Landlord referred "LLCsForLandlords" - Anyone used?

Question

Has anyone used the LLCsforLandlords referred from the Mr. Landlord website? The url for them is http://llcsforlandlords.wordpr... and they offer a LLC operating agreement specific to real estate investing. The web site says the OA is $995 - wondering if anyone has any experience with it.

Thanks.

Justin Kay · Answer

I haven't used it, or heard of it, but I wouldn't consider using them after I browsed their website.

Attorneys are like any other profession - some are really good at their jobs, and others just phone it in. Sadly the price you pay, and their hourly rate, isn't always an indication of the quality you get. I know several attorneys that started doubling their fees simply to get bigger clients . . . and it works.

I moved out of private practice 18 months ago, but when I doing it I would put LLC's, with Operating Agreements specific to the industry the business was in, for $500 plus the filing fees. Some corporate formations I'd spend a half an hour on and the paralegal did the rest (because they didn't want anything special), and others I'd spend half a week on, and multiple Operating Agreement drafts. The $500 was a loss leader. If they liked the work they came back for other issues, and they usually did.

Find yourself a good attorney and you'll be glad you did.