Lawyers can be very effective in your real estate business, especially when you are an investor. If you can build a relationship with a few quality lawyers, then it can make a big difference in your lead generation. I love doing business with lawyers. For every one lead you get from a regular seller in distress, a lawyer can give you five. Think about it!
If you were looking for foreclosure properties, for every one call you get from an ad a lawyer can give you 5 for free. It is illegal to give lawyers kickbacks (money under the table), but you can send them gifts for no particular reason. Get what I'm saying?...Wink, wink.
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There are a few types of attorneys that you can do business with. In this article I'll give you information on 3 types of attorneys that I feel are very lucrative in helping you make money as a real estate investor.
Estate Attorneys: In the real estate business, when someone inherit a property from someone else who died, most of the time they will go through an estate attorney/ probate attorney to handle the paperwork. Some of these people don't want anything to do with the property, so they will try and sell it once all the paper work goes through. If you can link with an estate attorney that will provide these leads whenever someone is looking to sell the property they inherit, the possibilities are endless with the amount of money you can make. If an estate attorney can provide these types of leads a couple of times a year, then you're doing good. There is no mortgage on a lot of these properties also. So this leaves you with a great deal.
Bankruptcy attorneys: When someone files for bankruptcy they will go through an attorney to handle the bankruptcy for them. Sometimes these people need cash to get out of their situation. If they have a property, then depending on the amount of equity they have you can offer them cash for their home. This can help them get out of their headache; you can buy a good investment, and build on your relationship with the attorney for future properties.
Divorce Attorneys: A couple is getting a divorce and they need to sell their property... a divorce attorney can provide their client with a solution to their real estate problem. You can be that solution. Like a person in bankruptcy, if the couple has enough equity in their property then you may have a deal on your hands.
You can reach these types of attorneys by calling them directly. Be very professional and courteous. Keep in mind that they are busy people and you should keep the conversation short unless they keep you on the phone. After contacting them via telephone, send them a letter thanking them for speaking with you. Add a few business cards in the envelope with the letter. Follow up with them once a month to keep in touch with them.
When you get these leads you can turn around and wholesale them off to other investors for a quick profit. Put an ad in the newspaper and offer a great deal for the house and you will sell the property very fast and make tons of money.
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