Real Estate Legal Opinion Letter

[Mark Rundell]

Hi, Has anyone ever approached a lawyer for a legal "opinion letter" before proceeding with an investment? Are they important? Do they help? I am looking to talk to a real estate lawyer in the following, and would love an intro to learn more: Charlotte, Philly, Nashville, Austin, Chicago, Indianapolis. Thanks! 

[Jerel Ehlert]

An attorney opinion letter is about the most dagerous (for the attorney) work product we produce, so expect to pay accordingly.  Any attorney you ask will make sure to narrowly define the scope, have no fear of that.

For most SFR, it happens frequently enough to ask a lawyer for doc review. This may be more what you are looking for. If your transaction is pushing into the million dollar range, that might be time to have a lawyer as part of the transaction, not after the fact for an opinion letter.

For general knowledge, your local REI groups will be better on a cost/hour measurement. While I started as an investor, then went to law school after the crash, and can teach every aspect of REI in Texas, I highly doubt anyone wants to pay my hourly rate to learn the ins and outs of real estate investing.

BTW, I live in Georgetown (just North of Austin) and have a main office in Houston.