How does one go about finding a GREAT real estate attorney, and how/how much do they charge?

Question

How does one go about finding a GREAT Real Estate Attorney?

Every real estate investing book I've ever read has trumpeted the importance of getting a lawyer on your team early on.

What is the best way to do this?

Also, how do they generally charge for their services (guessing it depends on the situation and stature of the attorney?)

-hourly?

-per deal?

-are retainers involved?

-other fee structures?

thanks!

J Scott · Answer

What exactly are you planning to use an RE attorney for?

The answer to that question will determine whether you want to be paying for a great one (likely several hundred dollars per hour), whether you'll want to be paying for a less expensive one ($100-150/hour) or whether you're really looking for some other kind of attorney or professional (contracts attorney, CPA, etc).

Stephanie Dupuis · Answer

I found my RE atty. by googling my area and "real estate attorney". News articles and other periodicals referencing his accomplishments came up. I then learned he was the guy other RE investors in town were using. His rates are on the lower end and he encourages clients to call with questions - no charge. Easily accessible. I've found my best attys. don't charge an arm-n-leg. They happen to be quite reasonable. I have no problem paying a lot for an atty., it's just that my experience has been that the really great ones I've had (except one) have been priced very fairly.

When I interviewed him, I only asked a few questions (I had already looked up his experience and qualifications). I did ask him if he invested in RE. He actively does, and you can tell. He's quite opinionated and that's fine (great, actually) - it's saved my tail already, b/c I listen to him.

Every atty. charges a bit different. Some will charge by the 1/10th of a hour, come by the project, etc. Ask how they charge when you meet.