Here is why now is the best time to consider investing in rental real estate buildings. It is about timing the economic cycle. You want to buy low and sell high, right? Give me the bottom of the housing market. The wall Street Journal published “The Future for Home Prices” article on December 2, 2008 as cover story for “Your Money Matters” section. Here are my selected paragraphs relevant for my point: Americans should see real estate investing as their best shot at wealth.
These lawyers are specialized in their field and do what they do the best. Don’t fall into the prey of a general practitioner, because he is the jack of all and master of none. It is also best practice to pay your lawyer some regular fee, because this way he will be more cost effective for you and available at your beck and call. Good lawyer will not only save you from a lot of deadly lawsuits against your business but he will save you a lot of cost and energy. When every deal will go through his hands before finalizing, the chances for trapping yourself into real estate traps will be minimized and you will able to do your real estate business with more peace of mind.
Do you need a lawyer or accountant? Technically, no. There is no law in place that says you must have an attorney, or that estate taxes must be done by an accountant. But, remember this: taxes and probate can be complicated issues. Mistakes will delay the closure of the estate and the distribution of inheritances. A good lawyer and/or accountant is an asset. Legal and accounting fees are paid by the estate. My advice is to shop around for an experienced probate attorney. Fees vary widely, so be sure to find out what the estate will be charged for legal services before making a commitment.
It is always good to do estate planning while your wits are still intact. A mentally incapable person can no longer execute a will or avocat succession insanité d’esprit plan. This makes life harder for you and your loved ones, most especially if they are still minors.
Unless you are willing to take the time to learn the ins and outs of the legal world than a lawyer will be your best bet. Not only will the lawyer save you endless amounts of time, but they will also save you money in the long run. Class after class of legal lectures will financial become a burden quickly. Do not try to take on both jobs. If you are going to be the house flipper do not also try to be the lawyer. Concentrate on making your money and flipping your house as quickly as you can. Let a lawyer take care of all of the real estate legal forms.
Now, I if had opened my big mouth and had said at the beginning of our negotiation talk, “I’ll need a check for $8K,” I would have never learned she had an additional $2K in her pocket. The moral being – never be the first person to talk about price.
Additionally, a real estate attorney will help you with stopping the foreclosure process if you feel you did not receive adequate notice or the lender violated some other right. You may also be able to fight to recover your home after the lender, depending on where you live, has foreclosed on it. There may be hope. If there is, these attorneys will help you to find it.