Why you need a Real Estate Attorney

[ Bookmark this page! ] [ get HTML Version ]

Manage Your Grocery Bill
It can be painfully clear: your grocery bill eats up a significant part of your monthly budget. Some families report that as much as 30, even 40 percent of their budget is spent on food items that they must have and simply cannot do without. Is your grocery bill unmanageable? If so, read on and we'll take a look at ways you can trim the cost without trimming the food.

Clip those coupons... Read personal finance article



Estate Planning
In a nation consumed with wealth-building, it's easy to forget that earning money is only half the financial security battle. Equally important is protecting our hard-won financial security with a well-designed estate plan. For women, the importance of planning is paramount, because most often women must cope when loved ones become disabled or die.

A recent study by Penn State Universit... Read personal finance article



Why you need a Real Estate Attorney
Skimping on attorney fees could cost you more than you bargained for when investing in real estate. New real estate investors often save money on their rehabs by cutting corners, doing work themselves and trying not to spend any money to make money. When it comes to having a good real estate attorney though be prepared to spend away.

You have to ask yourselves what you are willing to pay for a piece of mind especially if you deal with tenants. A few good contracts written up by your attorney will easily be worth it after your first eviction or foreclosure.

You can find hundreds of template contracts and real estate forms on the Internet, but just how legal are they? Ask yourselves why they almost always recommend you have your own attorney look them over anyway.

There are hundreds of reasons to use a real estate attorney in your wealth building, but here are my three favorites:

Title opinions. In some states you are required to buy title insurance to guarantee the marketability of your property. In others it is recommended to get a title opinion. A title opinion is the opinion of an Attorney regarding the merchantability of title based upon the title examination and commonly is written to a lending institution who will rely on this title opinion for the validity and ranking of its mortgage. This process could get pretty complex especially when dealing with vacant, bank owned and estate property.

Tenant Forms. If you have rental units it is imperative that you have a real estate attorney look over your documents to make sure that the language is specific to your situation and state. Tenant law in Iowa may not be the same as tenant law in Nevada. Trust me, if any wording is wrong in your 3-day notice or eviction paper work the magistrate or judge will spout out some state statute, your tenant will get to stay and you will have to start all over.

Leads. Attorneys can be a great source for leads. Motivated sellers often come from extenuating circumstances like divorces, bankruptcies and estates. If you have a good relationship with a real estate attorney perhaps you can help his clients out when they find themselves in situations like any of the above.

If you are new to real estate investing a real estate attorney should be on your team anyway, if you don't have one yet be sure to find one fast. Your realtor or banker should be able to recommend a good one for you.

Robb Beltran is an active real estate investor and publisher of the Real Estate Info Network. The Real Estate Info Network promotes real estate education through real estate seminars, e-books and real estate investing courses. www.realestateinfonetwork.com www.belstarproperties.com

Bookmark this page | Search this site | E-mail to a Friend



Due Diligence Myths

Are you doing your Due Diligence? Everyone in the high yield investing words speaks about this. You have heard it many times - "Do your DD and you'll be OK".

Is this really true? You have seen many high yield programs fail even after the best DD. There is never guarantee. But think about it, if you could avoid 99% of the mistakes that the Due Diligencers do, you'll have 99% better chance to make successful investment.

Here are the top 10 mistakes and myths in doing DD:

1. Low paying programs are more reliable

Low paying programs are just low paying. The low ROI alone does not prove anything and it is not advantage. The lower the program pays, the longer you need to be in profit, the bigger is the risk to loose. Of course you should spot the crazy paying programs as scams, but after that the ROI is not a criteria regarding program's reliability.

2. The admin is honest (nice)

The admin's behaviour has too little to do with the investment program credibility. Surely, with good psychoanalysis you could understand if the admin is mad or dishonest, but even the greatest and gentlest admin is not indicator that the program is for real

3. There is a phone, the program must be legit

Today you can get real but anonymous phone number for few hundreds of dollars. It could be call center, virtual office or other similar kind of service. You can't track the owner of that number, therefore it is not helping you to track potential scammer. Very often the false investment programs give phone numbers with the only idea to gain trust and make themselves look real.

4. There is an office, the program must be legit

Getting an office is harder and costs more. But still it won't help you tracking the thief. In many countries an office can be hired anonymously, and even if this option is not available, the thiefs use fake IDs (you can even purchase one online).

5. You can meet the admin, they are for real

Yes, if you can meet the admin, you at least know he/she is a real person. Can't they disappear though? See the previous item about the IDs.

6. The admin can show incorporation documents, this proves they are for real

Option 1: The incorporation documents can be faked. Ok, you can eventually check this and spot them out

Option 2: The company can be real, but registered by phantoms. If you can't track the person who owned the scam, you can't do anything useful

Option 3: Ok, there can be a real company. And even then they can scam you - the HYIP history shows several cases in which the program simply start reporting losses. You can't call the authorities against such company - because when invested you have agreed that losses can occur.

You can read about one great example of faking everything at here HYWD.info

7. The HYIP is paying for long time

This is certainly nice unless you are dealing with a ponzi scheme. The longer a ponzi pays, the lower is the chance for you to win when joining. Ponzis have lifetime, you know. Paying for long time alone does not prove anything.

8. Offering managed accounts means they do really trade

Offering managed account really proves that the company offers legitimate investment service. But this does not prove that their pooled (or whatever they call it) HYIP is also based on real trading. A very clear indication for fraudient scheme is when the managed accounts are producing losses, but the HYIP keeps paying just fine

9. They accept bank wires, so they can't run away

They can run away if they want. I can name at least 5 HYIPs which accepted wires, but this did not stop them to disappear. Using bank makes the things harder for the scammers, but not impossible

10. They have referral program, must be scam

The affiliate marketing is one of the most powerful tools in the internet business. There is nothing wrong to offer referral bonuses for investors who bring other investors - this is a very effective advertisement method. The referral bonuses are red flag only when they are too high.

Are you doing your due diligence when investing? Are you following the myths?

Tony Clifton is an Editor in Chief for http://hywd.info




Top rated articles for personal finance

1. How to Make Savings Simple
It really seems as if those who save money come by it easily. For so many people, saving money is just a dream -- they just can't seem to make it happen.

Saving money is difficult. Those wh... Read personal finance article

2. When you Borrow to Make Money
Investment debt makes sense if it is increasing your net worth. For some people they borrow to start a company and that makes them money. When my dad was a bank manager he told me if 10 companies open... Read personal finance article

3. Money Saving Tips
If you came here with a PhD in Maglev, you might not get anything out of this article. However, if you a like most of the newcomers subsisting on a low paying job, you may find some gems herein.
... Read personal finance article

4. When you Consider Selling Settlement Annuities
When you decide to sell the monthly installments of your annuity plan, you should be aware of companies that are reputed for quick service and the best possible solutions. Apart from choosing a good a... Read personal finance article

5. When you Order Checks Online
Ordering personal or business checks online is quite an easy matter. There are many sites on the Internet that provide extensive information about check printing agencies available throughout the coun... Read personal finance article

6. How to Live Below Your Means
When you live below your means, you find that things work a bit better. I understand the basic idea of living within your means, but you need to take it to another level in order to thrive financially... Read personal finance article

7. Living in Luxury - Make it Possible
Observing the lifestyles of the rich and famous is a fun pastime for many of us. We dream of how cool it would be to live in the lap of luxury as they do. Fancy cars, premium restaurants, exotic vacat... Read personal finance article

8. How to Buy a Big Home on a Good Budget
The dream of owning a luxury home, yacht, race horse or some other luxury item can become a reality with Shared (fractional) ownership.

So What Is It?

Shared or fractional owners... Read personal finance article

9. Call Options
Bearish investors have two common strategies at their disposal: short selling and put options.

Short selling is the most aggressive bearish strategy characterized by the highest degree of r... Read personal finance article

10. Save Money On Your Personal Finances
There are a number of small, relatively simple steps you can make to save on your monthly outgoings and take control of your personal finances. You will no doubt have heard of at least some of these t... Read personal finance article


Credit Counseling and Debt consolidation services in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi,



Why you need a Real Estate Attorney
Debt consolidation services in Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania,

Debt consolidation services in Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin and Wyoming.

Add website or submit URL link of your site to 1000 free directory