The goal for residential real estate investors is to get it running like a business. For real estate attorneys like us, this means setting up the legal side. This allows you more time to do the “high-value stuff” that you’re best at (so that you can do more of it); and leave the rest to us.
The legal end is hugely important, but ideally, it’s only a small part of your business. Our process keeps it a small part of your business (by keeping you safe and making it efficient), so that you can spend more of your time doing the things that will make you money.
Getting Started With Real Estate Investing
Getting started involves a small investment of your time upfront so that we can get to know you, your business and your goals. From there, we get as much of the legal end running like a machine. The introductory portion is a simple two-step process designed for us to get to know you, and for you to get to know us. Sometimes we do this on the fly after you have a deal pending. When we start ahead of time, you will get the most out of it. When you have a deal, we can hit the ground running. Here’s what we’ll do to get started:
1. Business De-Briefing
- Your Plans. Where you’ve been, where you are now, and where you want to be.
- Corporate Structuring. Generalized structuring for asset protection and efficiency.
- Propose & Analyze Some Strategies. We’ll tell you what we’ve seen work and what doesn’t work and help you choose the best way forward.
- Getting to Know Us & How We Work. Give you the opportunity to get to know the extent of our experience and how you can make the most of it.
2. Legal/Financial Issue De-Briefing
- Deal Points. Review common deal points so that we can get an idea of your level of risk, which issues we can handle for you, and which we need to run by you to make decisions on.
- Corporate Authority Documentation. Review of entity documents, make improvements & corrections as necessary, execute corporate resolutions for transactions.
- Financial/Banking Concerns. Set up efficient channels for contract deposits, other funding and proceeds.
- Funding Sources Documentation. Get up to speed on your funding sources, lenders etc. so that we can deal with them efficiently and professionally. Set up standard loan documents to provide to your funding sources.
Our services are offered either on a deal-by-deal basis or monthly plan. We’ll recommend the most economical solution for you after we get up to speed on your business, but generally, if you will be doing eight (8) or more deals per year, you will save a lot by utilizing the monthly plan. The monthly plan is a combination of a monthly fee and discounted deal-by-deal pricing. In addition to the deal-by-deal discounts, the monthly plan includes certain services on an unlimited basis such as entity formation, business/legal advisory, and asset protection planning.
4. Taking It to the Next Level
For many investors the residential rehab business model is just a means to an end. We’ve assisted many residential rehabbers move their business to the next level – usually that means residential buy and hold and commercial real estate. As we help you get your residential rehabs running like a business, you’ll find that you’ll have more time and money to pursue these other business models. The process for doing this is simple if you have the right strategy. When the time is right, and you’re ready, we’d be happy help you move to the next level.
For more information on how we can help your residential real estate investment business, please call us at 631.669.6300 or email Jim Clark at firstname.lastname@example.org.