New Real Estate Concept

I have an idea for a new concept in real estate. At least I THINK it's new. I will say no more at this point <IMG SRC="images/forum/smilies/icon_smile.gif"> . I would appreciate some suggestions for a savy real estate lawyer well spoken of who might be interested in talking with me, and who will be part of a team of investors who will contribute to put this idea in motion. The first thinkg I'll want from him is a super, duper nondisclosure agreement signed by him, or should I just put him on retainer so nothing I say can be stolen or given to someone else? Obiously I'm excited about my new project, which I hope will pan out. I'll know after talking with the right people. If it doesn't work, I'll let y'all know what it was, and we'll have a good laugh!

Terry[ Edited by concrete on Date 09/23/2003 ]

Comments(9)

  • InActive_Account23rd September, 2003

    that almost sounds scarey...would you share pls? there are so many experts here , I 'd hate to see anyone get into trouble when you have all the help you need right here. Someone canhelp you through it/advise you NOT to do it.....
    please be careful!

  • concrete23rd September, 2003

    Hi, Curly
    Thank you for your concern. It's not scary or illegal. I just want a good lawyer to protect my idea and possibly be directly involved since folks who have a stake in something usually watch over it better. There are definately some great folks here whom I'm sure I could benefit from their insights. Trouble is there are also some very smart folks who might share my enthusiasm and beat me to the punch with my idea.

    Terry

  • InActive_Account23rd September, 2003

    now i'm even more curious please keep us informed...who knows, you might make us all gazillionaires ...good luck !
    ps e mail me if you cant keep quiet lol

  • dickknox23rd September, 2003

    Sugestion - forget about asking the lawyer to invest - that comes later. Just find a really good RE atty in your area - pay his fee for an hour - probably about $200 - and ask for his advice.

  • jhgraves23rd September, 2003

    I wouldn't worry about your attorney stealing your idea. I second dickknox, just pay her hourly and do your deal. Additionally, it's not always a good idea to involve your attorney as an investor for two reasons; (1) being invested in an enterprise can make one lose their objectivity and (2) if there is a dispute then you end up having to hire another attorney anyway.
    Good luck on your project!

  • InActive_Account23rd September, 2003

    I don't think there has been a "NEW" concept in Real Estate in the past 25-50
    years. If you were to announce your idea on the front page of the New York Times ,you still would have plenty of time to retire a very rich "inventor". Competition only comes after the profitability of the plan becomes quite evident. That's usually years not days.

    Fly your ideas by a few trusted investors. Get them to sign a confidentiality agreement. A R.E. attorney is not a real estate expert. Use him for that which he's trained (Legality issues). Don't use him as a consultant.

    Lastly, lauch your idea. Therein lies the proof of your concept. Good luck

  • ram23rd September, 2003

    Ditto, there are very few truely original ideas...many entrepeneurs consume far too much energy/time protecting ideas to their detriment...networking with trusted, experienced, and intuitive investors will give you valid feedback...success is 99%execution (perspiration per Thomas Edison), and ideas are already quite abundant.

  • 64Ford23rd September, 2003

    I have a great real estate attorney here in Charlotte. i don't know if that would help you, but I'll share him with you.

  • concrete27th September, 2003

    I greatly appreciate all the advice, and have taken some of it! I went to an attorney. I have a lot of work and research to do to hopefully get this going. And yes, you're right, it's probably not original, but perhaps I can make it successful. I'm willing to gamble my time on this unless I become convinced it's a waste of time.

    64Ford, Thanks for your offer of your attorney. That was generous.


    Take care all,
    Terry

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