Hello REI Club
Im a newbie who is looking to put together my power team, I watch a video on pre paid legal, and it seemed to be a good idea. I searched online for reviews but my results were very minimal.
can any one offer advice for an inexperienced investor on this subject.
Hi mincy,
What do you want to get out of a pre-paid legal service? We use a real estate lawyer for our closings when we buy properties. We’ve given him enough business over the years that I can just call him with a question and not have to worry about being on the clock for the phone call. We also have a CPA who figures our taxes, has helped set up our Quickbooks accounting program, and has given insightful advice regarding our investments. I think the pre-paid legal boom was something a few years ago where people could get car magnets advertising pre-paid legal services and it was kind of their “business opportunity.” When you say power team, it sounds to me like a real estate seminar term. What kind of investing you do will dictate who you need to use. I would look for some recommendations about which lawyers in your area deal with title opinions and do closings on property. From there you could either sit and talk with one (possibly for a fee) or bring them a deal to close and see how you like working with them. If they do real estate transactions for a living (don’t go to a family lawyer or criminal defense attorney…you get the picture here), they should know about a variety of real estate issues like contracts, tax sales, setting up trusts, etc.
that makes sense, thanks for your response
Hi, I have marketed the service and I find that is useful for basic needs and for less than $20 a month is an excellent first line of defense before spending money on an attorney with specific experience for your real estate investing needs.
In my experience, for real investing transactions, you want not just a real estate attorney, but someone who is familiar with investor transactions and can tell you how they can be done and not just how they can’t be done. This applies to PPL (now Legalshield) attorneys as well as conventional real estate attorneys.
The service is excellent if you need a letter sent from your attorney or for basic needs involving conventional transactions.
A benefit plan that provide the legal services to the employee In this you get the legal services at low cost as compare to hiring and individual for legal services.And you pay the monthly fees to that company which provide you legal services.
Modified due to rules violation