Ever wonder why attorneys always seem to have a black cloud over their head?
They are more likely to shoot down your creative real estate investing ideas, than to help you build them up.
They are trained to see the negative parts, the down-sides, the risks.
That certainly has its place (at times at least),
But it often has the unfortunate side-effect of stopping people from moving ahead with things that would indeed actually be good for them.
You see, the attorney doesn’t really function in your world.
They function in the world of “pay me my high hourly rate”
Or “I’m an attorney, therefore I’m always right in what I say”
Or “I should just be paid more than anyone else because I’m an attorney.”
So what starts to happen when you as a real estate investor are making a ton of money from flipping proepties, is that resentment sets-in in the mind of the attorney.
The attorney can’t imagine how you can be making so much money when you don’t have the pedigree that they have.
How you walk away with so much profit from something they helped you get closed.
How after a few times of doing it, they do the math and realize you are seriously pulling it in and you don’t have nearly the amount of ongoing overhead, insurance, or office staff that they have to have.
That stings a little bit.
Now, it makes no difference to me what you choose to do for a living.
Hey, we all had our free choice as to which career to pursue.
But be warned, when you choose to be a real estate entrepreneur who flips properties, some of the more “respected professions” will get irritated (actually jealous) of the profits you start bringing in.
Think about it, if you waltz in once a month and collect a $25,000 check for simply flipping a property contract wholesale, eventually the attorney giving you that check starts to think that you are overpaid.
After all, you don’t have a law license.
And you didn’t go to law school.
You don’t need any of that to succeed in real estate investing.
And that’s a tough pill for them to swallow.
So they start to resent doing your settlements and then you need to find a new attorney.
That’s why if you’ve been in the business for any length of time, you realize each attorney has a shelf-life of roughly 1.5 to 2 years.
Then it’s time to move on and go to your secondary attorney that you keep “on deck”.
(You do keep another real estate attorney waiting in the wings, don’t you?)
You never know exactly when you’ll need them.
So remember the main lesson here:
Attorneys are very necessary to your business and they have their place.
But you have to be careful they don’t keep you out of the business by expressing their own fears or opinions about a business that they aren’t actually in.
They are in the attorney business, not the real estate investing business.
And that makes an enormous difference on their outlook.
You need to stay focused and take advice only from those actually doing what it is that you want to do.
So make this your new rule:
Don’t let anyone talk you out of something if they’ve never actually done it themselves.
Ready to learn from a real estate investor who actively does it?
Traction Real Estate Mentors