Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Off Topic
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

2
Posts
0
Votes
Christopher D Bradbury
  • Brookeville, MD
0
Votes |
2
Posts

Law Degree for the license.

Christopher D Bradbury
  • Brookeville, MD
Posted

Hello, 

I have been trying to decide whether or not to go back to school and get a Law degree. I dont want to be a lawyer,per say, but I want to be able to practice law. I want the license. 

I have a small real estate business, and am involved in other small businesses that I'm growing. I intend to continue building "the company," not build a law practice. 

In running this business, I come across countless occasions when I could use a lawyer. Not someone to represent me, but some one to write a trust, someone to close a real estate transaction, create a contract, etc. This type of legal work is expensive.  A custom trust document can be thousands of dollars, title work always costs more than really necessary, and I end up writing most of my own contracts now anyway (at a fair amount of risk I'm sure). 

So a law degree would allow me to get a law license, that license let's me do some of the things I already do just with a little more authority and at a fraction of the cost over time. The license gets cheaper the longer you have it, no? 

Ok, so for this to work I can't spend $180k and go to a top flight school and spend the next 5 years giving my business up for a high rank or even high grades. What I would need to do is go down to UDC, and pay 8k a year at night and just focus on passing. $24k will quickly get paid back just in title fees in year one. 

"Ok, what's your question."

So, the internet says this is not a good idea. At least not what I could find on Google. A few searches and all I find are get a law degree at a good school and get a job. Dont get a law degree if you dont want to be a lawyer. Stuff like that. No where have I found any advise on whether or not getting a law license is worth it for a scrappy two bit entrepreneur who's trying to cut down on title costs and create his own contracts. 

Its only something BiggerPockets members could help answer. 

Is it worth 5 years and $24k to get a law license if you just want to do real estate deals other business deals and not be a real lawyer? 

Loading replies...