While dealing with attorneys is hardly on the top of any body’s fun list sooner or later you will need access to a good one once you get involved in real estate investing. So how do you choose the right attorney to help you?
Depending on what area of the country you are flipping real estate in you may need an attorney on a daily basis or just once in a while when things get funky. This will probably be a big determining factor in how much you can afford to pay. However one thing is sure, and that is the better attorney you can afford the better off you will likely be. A great attorney with a formidable reputation in your area can often more than pay for their services in what they save you. Remember that just because they have a high hourly price tag it doesn’t mean they will actually cost you more. In fact simply having a letter written from a well known attorney is often enough to send any opposing attorneys scampering away with their tails between their legs and begging to deal on your terms.
Still attorneys in general have developed a reputation in the real estate investing business of dragging things out and running up big bills for you. Get referrals from others involved in flipping homes and interview several attorneys before making a decision. You should easily be able to tell after a few minutes whether this is the type of attorney who will purposely complicate things in order to create more work for themselves or whether they will really work in your best interest and actually save you money.
Also look for an attorney that specializes in real estate almost exclusively so that you know they have the detailed knowledge and expertise you need. It is also wise to discuss your plans for flipping real estate ahead of time to determine whether they will really be behind you. Most importantly, don’t wait till the last minute to find an attorney to assist you or represent your real estate investing business. It is much smarter to find one before you need them so you know who to turn to right away when issues do arise.
