Real Estate Attorney Advice

Take 2 days off from work 3 weeks from now.

In the next 3 weeks schedule 8 appointments with Real Estate Attorneys on the first day for the entire day.

Schedule 2 appointments for the 2nd day each before lunch. Have a long lunch at your favorite restaurant to reflect on the last 10 interviews. Talk about what you learned, feel secure about the fact that what Dean teaches is LEGAL in your state, and feel good about what you just accomplished!

You won't know which attorney to use until you use at least one for a closing. Only then will you know how well that Attorney can handle your business needs. If it went well use them again, If it went bad you have business cards.

During the interviews the first couple will be uncomfortable and you'll be nervous. By the end of the last few interviews you'll feel like you can hold your ground in a discussion with any Attorney!

HOW TO SET UP THE INTERVIEW:

1st
Open phone book and look under Real Estate Attorney, or Google search "Real Estate Attorney Your city, Your State"

2nd
Randomly pick an attorney and make the phone call.

3rd
You'll likely speak to a receptionist, if so just introduce yourself, write down her name, ask to set an appointment 3 weeks from now.

4th
Repeat steps 2 and 3, 9 more times or until 10 appointments have been scheduled.

5th
Arrive 15 minutes prior to each interview and learn!

TIPS:
Always ask the receptionist or attorney if they have a free consultation, most do the first 30-60 minutes for free. No need to pay if its free!

When The receptionist answers the phone and says "hello goldwater firm this is Jane how may I help you" write down her name. There is a book called "how I raised myself from success to failure in selling" by Frank Bettger. This book is about a man who went from playing baseball to selling insurance. One of the great lessons is about the receptionist. If your nice to the receptionist and seem like your not going to waste anytime for her boss she will be your best ally to gain knowledge from and to also set the tone for the meeting between you and her boss.

INTERVIEW QUESTIONS:

No particular order, play it by ear at the interview.

Do you Invest in Real Estate?

Has your firm handled many Assignment of Contracts?

Can you do a double closing if necessary?

How does title Insurance work to protect a buyer?

What type of Real Estate Documents has your office drafted that are particular to this state/county?

Do you have references of other clinets that have needs as mine? (possible buyers list!)

What was your fastest and simplest closing like?

What was your worst closing and how did you overcome it?

How does this state handle evictions? In what situations should I absolutely have an Attorney to evict someone besides non-payment of rent?

Can you setup and LLC or other type of Business Entity? What are the filing and document fees?

What are your typical closing costs? (don't be rude and ask for a discount until you've done atleast one deal!)

Do you have any recommendations for other Real Estate professionals? Such as accountants, home Inspectors, Realtors, Loan Officers, etc?

CLOSING SUMMARY

This is the best advice I can give you because I know it works very well! In 2 days you will learn so much more about Real Estate in your local market. You will have business contacts for many other needs than an attorney.

The best way to learn Real Estate is to do Real Estate! Hope this helps! Please post comments about how your progress is going to schedule interviews and how the interviews go!

I'm bookmarking this one!

Initially, I picked up the local Yellow Pages and scanned it for R/E Attorney's here in Phoenix. With our R/E market hit so hard, there is more then enough that keep their practices focused on R/E law and the needs of Investors. I looked at the differences in the ads to find those that weren't to big. I'm a small fish, but I needed a dedicated smaller R/E firm. Then I asked myself what I would say so they would take me serious, careful NOT to overstate my "future" needs. I set up meetings, WAS ON TIME to my appointments (they can judge you on this, it shows you are professional and respect their time which they charge and you pay for). Then I made my case in 15 minutes or less! Strive for 10 minutes. If the meeting goes longer THEY will extend their time.

TAKE THE LEAD! Ask them initially about the R/E law they practice, HOW they charge: Only per hour, do they have set prices for certain services, and then throw in "...how about Assignments? How do you approach those because I will be doing the OCCASIONAL one?" If you know that's what you will be doing because you don't have much money, like me, they don't need to know this. Don't overstate that you are a newbe. Be forthcoming, but don't over do it. And remember, YOU ARE INTERVIEWING THEM. They will all take your money for sure. But ask them how they might help you in the process. Also, ask them the problems they have encountered with other R/E Investors doing Assignments. EVERY ATTORNEY I "INTERVIEWED" SAID THE SAME THING TO ME ABOUT ASSIGNMENTS: When you are going to do one, talk to them first! This is good advice. Don't come to them after the fact. If I go off and sign a purchase agreement and I have put "AND OR ASSIGN" on the contract, the FIRST thing to do is Call them and tell them what you have done and your intentions. If it's not the weekend and you're going to meet with a Seller and you're pretty sure you're going to leave them with a contract, CALL THE ATTORNEY BEFORE YOU GO. BRING THEM IN IMMEDIATELY. If it doesn't happen they will respect that and not judge you on it. Just call them back and say you couldn't forge a deal.

You can see from what I've stated above that actually finding an Attorney is easy. If in the meeting you do not feel they take you seriously, chances are good you told them to much/gave them to much information. So just tell them what you're getting into, don't tell them you have little or no money, and just say, "I WOULD DO NOTHING WITHOUT "GOOD" LAW behind me on EVERYTHING!" You've also set them up that the need to be good and that strokes their ego. We all see ourselves as being really good at what we do! They want your business. Stay in control of the meeting. It's your meeting. You called for it. I talked to several Attorneys, even after the first GOOD one became apparent. The next meeting had was several days after that last one and he was also really good. OR SO I THINK! The key then is to bring a deal to both of them and see how it goes. Don't stop with just the one. This is going to be a really long term relationship you are forging. When you haven't really worked with an Attorney on any regular basis, it can feel intimidating. Just remember that it's just a service these pro's are providing. Now because the area you're in might not have a lot of real active R/E Attorney's, you might need to get outside your immediate township or community to even find a greater selection. But overall, just remember to interview them, be forthcoming but don't go to deep on your personal situation. Even if you don't yet have R/E experience because you - and I - are new to the game and training provided by the DG family, you actually do have the best information in education on this subject. TRUST IN THAT. Go in there with a successful attitude and you'll find THEY will be telling you about their background and more. YOUR TIME IS VALUABLE. Act like it. Watch the time, after 10 minutes or so glance at your watch. When it's right, you'll know it. Just stop and say, "Hey, I've got work to do, got to wrap this up Thanks for your time and lets see if we can do some business. I will keep you informed if you don't hear from me for a bit. As I continue to move forward and get into multi deals per month, I'M SURE we will be doing some business together!" Shake hands and go. REMEMBER TO LEARN THE RECEPTIONISTS NAME! Say hello AND good bye on the way out. THEY are the gate keepers the same way an Agent is the gate keeper to the MLS.

One last thing on being personable with them. Be friendly. Tell them a VERY SHORT SYNOPSIS about your life. That means in less then 90 seconds. Keep it simple and truthful. Be calculated to a degree. If you relax so will they... and let them talk. Ask them where they got their law degree. Look at their walls when you walk in. Take an interest in them first. Look to see if they have family pictures on their desk or in their office. Size them up. Carry yourself professional. IF YOU ARE A GUY, don't go in there with shorts! You can dress casually, but wear slacks and a shirt, maybe a jacket if it's cool enough. AND start out by VISUALLY TURNING OFF YOUR CELL PHONE! SAY, "I want to turn this off so we're not disturbed!" Even if you only get one call a week from your spouse and he or she is sitting next to you. This shows you respect his or her time and that YOU RESPECT YOUR OWN! TIME IS MONEY, and never so much as that which your Attorney will charge you! It's a little theater, but it's good practice for when you are sitting down with a Seller. Especaily if this is all new to you. I've been doing Merger & Acquisition so it's not new to me, bur R/E is.

I hope this helps. Good Luck and get by this one fast... Don't over sell yourself to them. Put them in the hot seat.

Enjoy!

get your referrals there. Attorneys, and anyone else, who is referred by a satisfied investor who has used their services are a safer bet.
Gena

Go to a local MREI meeting. Ask the support staff or the organizer for contact info for an REI prepaid legal firm. Be sure your provider law firm is local to your target markets. For very little money you can have unlimited phone call legal advice and more.

peace,

I always make a habit of hitting my state's Bar Association website and doing a quick scan. For Florida, it's www.floridabar.org. It doesn't really say much, but I look at when the person was accepted, if there is any disciplinary history, and what their area of practice is. I've avoided attorneys with multiple practice areas that are too far spread, such as "Criminal Law, Business Law, Child Support, Probate". Personally, I want an attorney who doesn't do much else besides real estate. I don't want an attorney that is swamped with divorce cases, alimony/arbitration meetings, DUI/Hit-n-run cases, and every other kid caught smoking pot after school, not really knowing the 'ins and outs' of a full-time real estate attorney.

My suggestion, just as the others have stated, make a list (narrowed by some quick research on the Bar's website), and schedule some interviews.

I actually got "caught" a bit with one. He and his father have been attorneys in the area for MANY years and are a well-established firm, albeit just the two of them and a paralegal. He was actually a long-time family friend who said over and over that he could certainly be a part of my team. I went to him for some advice on a foreclosure (on behalf of the homeowner) and he basically told me to go find an attorney that deals with foreclosure defense, since he does not. I thought to myself..."What? You're a real estate attorney! What do you mean you 'don't do foreclosures'?" Instead of waiting to find out what else he didn't do, I now use another attorney. (My hunch is that he just didn't want to be 'bothered' by me any more. Fine by me - it's now someone else who makes the money (we're in the process of dropping him from a multi-million dollar suit as well)).

One of my biggest criteria, aside from the Bar information, is all about contact. I don't want to wait a week to "hopefully" get a call back. I get really tired of secretaries/paralegals telling me "he's out of the office" or "on another line", only having to call back a few days later to reach him. My attorneys work for ME - not the other way around. That may sound conceited, but we're talking about attorneys.

Chris

HEY RIFFOLA, HOW YOU DOIN MAN? HI MY NAME IS CLERMONT. I HAVE A QUESTION 4 U,I AM FROM FLORIDA AND I'M NEWBE. I WANT TO TAKE ACTION BUT I HAVE A PROBLEM, I DON'T HAVE A REALTOR. I WOULD LIKE TO KNOW WHAT YOU DID IN FLORIDA TO GET A REALTOR ON YOUR TEAM? THANKS 4 UR HELP.

nothing beats it

Either from an actual cash buyer or from your states bar association.

If you have or know someone who buys ask them who their attorney is, call them and say "Joshua referred me i'd like to use you in my dealings"