How Much Does Your Attorney Charge?
I was curious to what others are paying for their legal advise.
What is the hourly rate you pay?
Are their "cookie-cutter" things such as title opinions or such that are a flat fee?
Do you use a large or small firm?
Do you work with a partner, non-partner, or team approach?
I'll start out. I have two attorneys...one that does corperate and charges $160/hr and my real estate attorney charges $250 for title opinions and $100/hr consulting.[ Edited by myfrogger on Date 12/04/2003 ]
In my investment group we had this discussion. Different Attorneys will charge different fees for the same services. Interview several of them just as you would an employee for your company. Find one with knowledge of CREI (the most important thing), and ask as many questions as possible. Next get referrences from him/her. Make sure they relate to the type of investing you are doing. I don't mind paying a bit extra to sleep better at night.
Good attorneys are very hard to find. When they get good, they figure they are "too good to do this kind of work" or they are too busy to do it!
I have found a couple that I use regularly. One for contract work ($400/hr) One for tax ($225/hr)
The contract guy is the best.. He also aways gives me the digital version of the contract so I can reuse.
Gregg
[addsig]
Our Real Estate attorney charges $350.00 an hour. He's very good...
Mike
The attorney I have used most recently specializes in evictions and I needed someone who works in an area with newly legislated eviction control. He charges $240/hr.
I talked with one yesterday that told me he billed 240 hours the day before. For a three man firm that adds up. What I look for is a blend of service, skill, and how many hours does it take to do a 3 hour job. [ Edited by rickomarsh on Date 12/14/2003 ]
Check around your local REIA or affiliated groups for one that knows your (our) business. If you get the same name from a few people, set a consultation appointment. There is a big difference between cost and value.