legal fees

[Tyler Wenzel]

As a beginner in Wisconsin trying to do it right, when doing property analysis, what do you folks typically use (can be a range) as a rate for legal fees for a buy and hold property.

This is obviously going to be different with every purchase as the purchase price fluctuates, but is there a hard number to get me in the ballpark?

Also, besides closing costs, what other legal fees might I be charged that I might not be thinking of? Ie. lease agreements, ect.

Thanks everyone in advance :)

Tyler

[Dan C.]

@Tyler Wenzel It cost me about $500 for an attorney each time I bought an REO duplex. Consult with an attorney ahead of time and they will be able to give you a range.

You will incur more legal fees of course if you buy a property with bad tenants and have to evict right away.

For leases there is a company in town where you can purchase all the legal forms needed, and its very inexpensive - its called WI Legal Blank. Probably not worth a trip to MKE Tyler, but I would think Janesville or I'm sure Madison have a similar store.