Real Estate Investing
I have flipped 37 properties in the past 11 months in four states (Michigan, Ohio, Illinois, & Georgia). The money has been provide by my brother and girlfriends mother. I have returned an average of 21% on each transactions. My average turnaround time is 96 days. I have three other people who want to give me money to invest in real etsate.
Up to this point it's been an oral agreement between my brother and mothers girlfriend. Currently, I do this part time, but will go full time in real estate investing in July.
I think it's time to get a written agreement between all parties. Can you recommend which legal document would be best suited for this type of real estate investment transaction?
Re: Real Estate Investing
You need to hire an attorney and get a written agreement amongst all of you stating exactly what your agreement is for future properties, and repeating what the agreement was for the properties that you have already bought and sold. With this much money involved, you have to put it all in writing.
Please hire a lawyer. You have no idea how much trouble and grief will result if anyone does not like any part of the transactions. I have dealt with several. It is also ghastly expensive to have such a fight take place.
On the other hand, I have set up many agreements that avoid any such misunderstanding.
If you would like me to assist, please call my office. I am in Hackensack. A half hour consultation will be $75.00. You can then decide how you would like to proceed.
My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.
Disclaimer: Your question and any response does NOT create an attorney-client relationship between you and this law firm. You can not rely on the statements made by an attorney given over the internet. The exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.
Re: Real Estate Investing
You need to hire an attorney and get a written agreement amongst all of you stating exactly what your agreement is for future properties, and repeating what the agreement was for the properties that you have already bought and sold. With this much money involved, you have to put it all in writing.
Please hire a lawyer. You have no idea how much trouble and grief will result if anyone does not like any part of the transactions. I have dealt with several. It is also ghastly expensive to have such a fight take place.
On the other hand, I have set up many agreements that avoid any such misunderstanding.
If you would like me to assist, please call my office. I am in Hackensack. A half hour consultation will be $75.00. You can then decide how you would like to proceed.
My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.
Disclaimer: Your question and any response does NOT create an attorney-client relationship between you and this law firm. You can not rely on the statements made by an attorney given over the internet. The exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.
Re: Real Estate Investing
You need to hire an attorney and get a written agreement amongst all of you stating exactly what your agreement is for future properties, and repeating what the agreement was for the properties that you have already bought and sold. With this much money involved, you have to put it all in writing.
Please hire a lawyer. You have no idea how much trouble and grief will result if anyone does not like any part of the transactions. I have dealt with several. It is also ghastly expensive to have such a fight take place.
On the other hand, I have set up many agreements that avoid any such misunderstanding.
If you would like me to assist, please call my office. I am in Hackensack. A half hour consultation will be $75.00. You can then decide how you would like to proceed.
My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.
Disclaimer: Your question and any response does NOT create an attorney-client relationship between you and this law firm. You can not rely on the statements made by an attorney given over the internet. The exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.
