OfflineI just read Dean's book and am interested in doing Assignments. In the book Matt says that having an attorney at closing is really important. I guess I'm just wondering a few things:
-Do you establish a relationship with a Real Estate Attorney ahead of time, or wait until there's a deal to discuss?
-How much will the attorney cost (I live in California)?
-Do you have to put the attorney's cost into the Purchase Agreement ahead of time or just pay them after from your assignment fee?
Does anyone know?
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Fredrick
Reiner and Associates
I am on the same page with you, Ricki. What will the attorney charge for doing this and how do I find an attorney locally who can help with this since the closing agents do not do assignments. Am I correct?
I would appreciate help from anyone who has been through this. I am a beginner and real nervous right now. I know I can do it. Just have to the first one. Thank you
Mike Patel
Mike Patel
If you are going to assign the property, you don't really need an attorney as you are not going to be closing on the property.
If you want an idea of the cost, ck out the site legalmatch.com.
"The greatest mistake you can make in life is to continually be afraid you will make one."
Elbert Hubbard
About this and please no one here take this the wrong way but really stop and think about it.....
Do you have a property that you're gonna be closing on very soon?
Why do you need to worry about attorney costs, agents, contracts/agreements etc if you don't have a property in the first place?
Why have you been on this site for almost a year and now just reading Dean's books?
Do you know that you can go into the top left hand corner of the site and type in assignment(s)/assignment of contract and it will bring pages and pages of info on any questions you have regarding everything you asked about?
Do you even know how to evaluate a property and determine ARV and other significant costs etc etc etc?
Have you even LOOKED at a property to at least attempt to evaluate it?
Just another little piece of advice READ READ STUDY RESEARCH READ STUDY RESEARCH READ READ READ.
I apologize if this seems to come across a little strong but please we are all here to help but just please help yourselves first, and I only say this because these questions and this little bit of advice were given to me when I first came onto this site so I know exactly how it was and now I have learned more by just reading and networking with other successful seasoned investors here on DG.com.
Good Luck!!
You gain strength, courage, and confidence by every experience in which you stop and look fear in the face. Do things you think you cannot do. Tough times never last, but tough people do.
See Where The Journey Never Ends At: http://www.deangraziosi.com/real-estate-forums/investing-journals/69250/...
Chase Brooks
www.brooks-investments.com
Thank you for your response on assignment deals and attorney fees.
Mike Patel
Mike Patel
Frederick,
depending on the area where you live, the attorneys charge differently...
you may want to build your team before you have a property to assign-that would speed up things once you find your deal...
If you use an attorney, you would calculate his/her fee into your fee; for example, if you want to make $5,000 from a deal and you need to pay $500 to your attorney, you would state $5,500 as your fee.
wishing you success,
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
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