Totaled IBA and Insurance

[CheetahExpress]

You don’t need an attorney for any of that although it would be prudent

You're right. In Texas, you don't need an attorney for real estate deals. We only used one to set up the LLC for us. The land transaction was just us, the seller, and the title company. I worked for lawyers in Massachusetts and there, you need an attorney for any land or home purchase.

 

[washnshine]

When I think of keeping a lawyer "on retainer" it means that you have a few grand sitting in an escrow account and you use him (or her) frequently. (usually ongoing) Money comes out monthly for service hours rendered and then you top it off every month. We have a lawyer "on tap" but he bills us after the specific project is completed.

Yes - a go-to person. Just like your doctor or plumber or whatever. You have an ongoing business relationship with them and use them when necessary. If you don’t use them for two or three years - no big deal. But when you need them, that is who you call. No need to have an escrow account- just a past working relationship that allows you to have a history using their services.

 

[soonermajic]

Was a PreLaw major for 2 yrs. Went ahead & gotna PHD: Poor Hungry & Determined!
Been coaching 30 yrs. Got in washing 8 yrs ago, 4 washes, but 1 of those for only past 2 mos. First wash i was suckered, but taught me a tough lesson.
Went back to my WiN method (W.hats I.mportant N.ow) & used my PHD.
Since, my 3 washes have well over 30% cap rate. Only reaaon I know that is cause some pencil pushing geek told me.
I have done every bit of my legal work myself. Haven't needed any attorney in those 8 years. Maybe Im just lucky....? But don't think I'll get a lawyer for many years.

 

[washnshine]

Was a PreLaw major for 2 yrs. Went ahead & gotna PHD: Poor Hungry & Determined!
Been coaching 30 yrs. Got in washing 8nyrs ago, 4 washes, but 1 of those for only past 2 mos. First wash i was suckered, but taught me a tough lesson.
Went back to my WiN method (W.hats I.mportant N.ow) & used my PHD.
Since, my 3 washes have well over 30% cap rate. Only reaaon I know that is cause some pencil pushing geek told me.
I have done every bit of my legal work myself. Haven't needed any attorney in those 8 years. Maybe Im just lucky....? But don't thi k I'll get a lawyer for many years.

Coach - as my father always says: “If it ain’t broke, don’t fix it”.