How To Stop Deal-Killing Attorneys

Performance Property Real Estate Question

Q: Hi Gerald, I found a great deal on a property that I want to buy. I’m satisfied that I did enough due diligence: I checked sold price comparables and the property is fully rented in an area where I know I can find other tenants. The problem is that my attorney is trying to convince me not to buy it. What do you think I should do? Kevin, Salt Lake City, Utah

A: Good real estate attorneys play a critical role on your real estate team. There are some very good real estate attorneys and there are many real estate attorneys that are awful. I use attorneys to review contracts, but never to make business decisions—that’s my job as an investor. An attorney is just an advisor–same is true for a doctor-you’re responsible for what you put in your own body. Never accept business or financial advice from attorneys—this is not their area of expertise. The key to effectively managing an attorney is to make them stay in their narrow lane. An attorney’s job is to interpret the law—that’s it. Your real estate attorney is your legal advisor not your business partner. Tell your attorney to stay in his lane and focus on the law. Thanks for your question, Kevin.

For more real estate tips and information visit my blog at geraldlucas.com.

Testimonials

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Vaughn | Westfield, New Jersey

“Good afternoon, Gerald, I appreciate you for staying consistent and helping me with my mortgage lender for the last few months. The free guide you gave me helped us figure out the right path to take. I finally got all the money to make my loan current by the end of the week.”

Stephen Brunson | Plainfield, New Jersey

“Sir Gerald Lucas..my Knight who rescued me from the prison of Rushmore. At last I feel freedom to stop worrying about keeping myself financially afloat. You came into my life and gave me peace of mind. I will always remember your kindness and generous spirit. You are daily in my thoughts and prayers. May your gratuitous services to me be The Blessing it was,and may you be rewarded with many Blessings in return. I prayed to God for help and He sent YOU. Much love.”

Mary Elizabeth Robinson | Wilmington, Delaware

“Hi Gerald I just want to take this moment to thank you and express my gratitude for a job well done. When I thought that everything was lost you appeared and delivered hopes. Your professionalism and endurance are out of this world. Thank you thank you. I will always be grateful.”

Berkis Castro | Clifton, New Jersey

“Thank you so much for helping me. My property was haunting me for quite sometime. We tried for so long to sell but couldn’t. My family and I never thought we would resolve this problem so easily, but you facilitated the whole process and made it swift and painless. We can’t thank you enough for this.”

Sal Rizzo-Cascio | Jersey City, NJ

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Bridget Hieronymus | Jersey City, New Jersey

“I was not able to pay my mortgage and the Bank started the Foreclosure proceedings against me. I spoke with Performance Property about their process and they gave me hope. They were very diligent and did all the negotiations on my behalf. They were very professional, sincere and hardworking. I would recommend Performance Property’s services to anyone.”

Samuel Manoharan | North Bergen, New Jersey

“My family and I want to thank you so much for helping us. You did an outstanding job negotiating with our bank and keeping us informed. Thanks to your help, I now have more money to pay down bills and repair my credit.”

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“As I began my morning today, I came to the conclusion that it was the dawn of a brand new start for my family. The burden is finally behind us. I have you to thank for that. You stuck by us, slogged through the swamp that is Chase Bank, put up with my constant questions and anxieties. I wondered if this day would come and lo and behold, it has. If good karma is to be had, I think you hit it big today. I am profoundly grateful for your hard work that has truly made a difference in our lives. We can now move forward with rebuilding our lives focusing upon a renewed perspective of what the important things in life are. Thank you again for your time and dedication.”

Melinda | Bayonne, New Jersey

“Thank you so much for all your help. I feel a huge weight has been lifted. The experience and knowledge that Performance Property provides is invaluable. In every step of the process, you were extremely courteous and professional. Thank you again.”

Gita Gorji | Hoboken, New Jersey

“Our loan modification was finalized. Got all the documents. Even got legal documents stating that foreclosure proceedings were cancelled. Our rate went from a 4.75 to a 3.4 and our mortgage payment went down almost $200 a month. So all is good. Thank you so much.”

Crystal | Totowa, New Jersey

“Finally the bank called me and said that my loan modification was approved! I thank you so much for your help it really meant a lot to me...I really appreciate you. Thank you Thank you Thank you”

Camille Perry | Newark, New Jersey

“Hey Gerald wanted to give you a heads up that they offered me a loan modification. Thanks for all your help!"

Robert Evans | North Arlington, New Jersey

“I appreciate everything you were able to do with my lender, I am immensely grateful to you."

Carol Cunningham| West Orange, New Jersey

“Thank you so much for your help, Gerald. I feel like a huge weight has been taken off me."

Iradys Rivero| North Bergen, New Jersey

“At this point, Gerald, you are the only person I can trust. I appreciate all your efforts to assist me."

Deborah Dowe| Plainfield, New Jersey

“I want to thank you for helping me to get the courage to work on this problem because I didn't want to face it. Your help with the phone call to the mortgage company & other assistance was so appreciated. Thank you so much."

Evelyn Rudnicki | Rochelle Park, New Jersey

“I'm not trying to be a pain in the neck but I would like to thank you for your advice. I think things are going to work out for me. I did exactly what you told me and I think the mortgage company is going to work with me. I appreciate your advice. You are a Godsend. The world needs more people like you. Thank you and God bless you."

Jimmy Armstead | Roselle, New Jersey

“My mortgage problem is resolved. God bless you for all your help. You are a very good man, Gerald."

Virgilio Rodriguez | Paterson, New Jersey

“I followed the instructions Gerald from Performance Property gave me and I proved to my lender that I can pay back my mortgage.”

John Nikoe | Linden, New Jersey

“God bless you.”

Ravinder Thota | Jersey City, New Jersey

“My bank gave me a permanent loan modification. Thank you very much!!”

Jim Armstead | Roselle, New Jersey

“You helped me a lot more than the lawyer I hired. I should have gone to you in the first place. You were very kind. Thank you so much.”

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Amoy Frost | South Orange, New Jersey

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Sabur Abdul-Wahid | Budd Lake, New Jersey

“You helped me get money and get rid of my nightmare tenant! Thank you so much for all your help.”

Dion Lowe | Rahway, New Jersey

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Melody Melendez | Elizabeth, New Jersey

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Amoy Frost | South Orange, NJ

“I appreciate all your help from the beginning and throughout the process. Thanks to you I was able to refinance and keep my house.”

David Brown | Rahway, New Jersey

“Thanks Gerald...I appreciate the time and effort you put in to this. You never gave up on it and I get my life back. I am grateful for everything. Thanks again.”