NOTES with Jay Conner Success
OCTOBER 2017
Find Your Investor-Friendly Real Estate Attorney
T here’s one question I hear from both new students and people I meet at events across the country: How do I find an investor- friendly real estate attorney to take care of my closing? It’s a big topic to address. There’s an art to finding the right real estate attorney, because you need to find a person who meets a specific set of qualifications. Locating a real estate attorney isn’t that big of a challenge; there are plenty of them! The real trick is locating an attorney who is willing to work with investors. Some attorneys don’t do business with investors because they have misconceptions about how investors obtain their properties. Real estate attorneys might look at closings that are subject to the existing note, which can trigger a “due on sale” clause, and assume it is unethical to obtain properties this way. Nothing could be further from the truth regarding legality or ethics. People have been buying and selling homes using these methods for decades. But if an attorney does not want your business, how do you find ones who do? How do you find real estate attorneys who want your business?
“How do you find real estate attorneys who
want your business?”
• Step One: Get online and search “real estate attorney + your city or
Jay and Carol in Alaska
target market.” If you don’t get many results, expand to your county or state. • Step Two: Send an email to every attorney with the subject line, “Real Estate Investor Seeks Real Estate Attorney.” When Sherry did her search, 95 attorneys came up. She created a template that introduced herself and explained she was an investor looking for a real estate attorney to handle her closings. By the time Sherri emailed 23 attorneys, she hit the jackpot with a response. In fact, the attorney called Sherri after 5 p.m.! With Sherri’s strategy, you know the attorney you speak with wants your business before you have your first conversation. Whether you send out emails or do some networking, locating an attorney who wants your business isn’t the end of the line. Now you have to determine if they are an attorney you want to work with. Ask these three questions:
There are three strategies I suggest which involve networking and referrals:
• Ask the local Real Estate Investor Association organizer.
• Ask the local REIA club members who have done at least 10 deals or more who they use.
• Ask an investor-friendly Realtor who they use as an attorney.
Now, I have to include a fourth strategy that does not involve referrals or networking. I can’t take credit for this method, though I wish I could! This strategy comes from one of my platinum coaching clients, Sherri Stone. Put on your seatbelts, because this strategy is so simple and powerful, it could find you an attorney in less than 24 hours.
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