if you are interested in this aspect speak with you more over the phone. An additional protection that Pre-Paid Legal offers is Identity Theft Protection. Feel free to click on the banner below to learn more about how you can benefit from this service as well.
Pre-Paid Legal:
The Tool Every Investor Must Have
In your investing career how many times have you thought to yourself, “I Would like to have an attorney look at this but I don’t want to spend the money?, I think this is the law, but it would be nice if I could ask an attorney to find out for sure?
As Real Estate Investors it would be nice if we could have an attorney at our disposal whenever we needed one. One that could help with contract questions, tenant disputes, contractor issues, asset protection, and so on. In reality, we would need many attorneys to cover all of these different areas. But potentially, that could get very expensive.
Here is another question for you: How many times have you known you should have an attorney look at something but didn’t want to incur the expense so you just risked it? If you are lucky it didn’t come back to bite you, if you were unlucky you ended up paying the cost many times over and you have vowed to NEVER get into that position again.
The expression ‘An ounce of prevention is worth a pound of cure’ definitely applies when it comes to legal protection. Beginning investors especially are vulnerable, due to both lack of funds and lack of experience in avoiding pitfalls.
If you have been smart enough to make use of an attorney have you cringed at the size of the bill you received? $50 to get one quick question answered?
Fortunately there is an excellent solution for us, it’s called Pre-Paid Legal. For a small
monthly fee – with no contract required – we can get access to a battery of attorneys. How small is the monthly fee? Right around $25 bucks a month!
How can you use this as an investor?
For starters, you can make unlimited phone calls to have your legal questions answered and receive legal advice. How useful is that? Think about how many different ways you can use that when you are buying or selling investment deals, or even for your personal life. For example, let’s say a tenant calls you and says their apartment was broken into and wants you to fix the front door. Tenants speak in code, and more often than not, when a tenant says their apartment was broken into it really means they locked their keys inside and didn’t want to pay the fee for you letting them back in so instead they kicked in their door and claimed someone broke in.
A quick call to Pre-Paid Legal and the attorney may advise you to have the tenant file a police report and have you insist on seeing the police report before the door can be repaired or have the door fixed at their expense if they fail to provide the police report. Tenants know that filing a false report is a crime so they’ll probably think twice about following through.
Pre-Paid Legal can also write letters on your behalf. When people or businesses receive a letter from an attorney on your behalf they know that you have an attorney at your disposal and will not be easily pushed around. This can be very useful when dealing with unscrupulous contractors, for example. I have had my share of great contractors but I’ve also had to deal with some who try to take shameless advantage. If you have a contractor who consistently doesn’t show up at the job site to get their work done this costs you a lot of money in delays. A quick letter from your attorney will probably be all of the prompting that contractor needs to start showing up and getting the job done.
Or what about if the contractor underbids the job and then tries to bill you extra for their mistake? Most people end up paying this type of bill, pretty much knowing they are being taken advantage of but not knowing what they can do about it. A letter to the contractor from your attorney will let that contractor know they aren’t going to be able to take advantage of you. If a contractor tries to bill you just an extra $600 for a job, that would pay for your Pre-Paid Legal costs for 2 years!
Here is something that most people do not know. When you buy a house the purchase agreement you sign is in no way a standard document. Purchase agreements are not written out by each state and then required to be used in each transaction. It does not work that way. Every real estate company has their own purchase agreement, any private transaction outside a real estate company will have a unique purchase agreement. Once you sign that purchase agreement you are bound to it. How would you like to be the buyer of a house where you have to pay the seller’s unpaid property taxes for the last five years because it was written into the purchase agreement?
Too many of us do not want to spend the money to have an attorney review a contract.
We just risk it instead. Pre-Paid Legal will review an UNLIMITED number of personal documents for you, up to 10 pages each. Plus they will review one business document once a year at no extra charge. Talk about peace of mind and power!
Those are some of the common uses we as investors have for Pre-Paid Legal. Those types of things are integral to our business and we would use them on a regular basis. Pre-Paid Legal offers a whole lot more benefits than that for our small monthly fee. I won’t go into them all but here are two critical ones.
If you or your spouse is named as a defendant or respondent in a civil or criminal action you receive 75 hours of paid attorney time, and it increases by another 75 hours for each year you renew, up to a total of 335 hours of pre-trial and trial time. That is enough for almost every trial except O.J. Simpson‘s! God forbid that this should ever come to pass, but what a wonderful safeguard to have.
The other critical service Pre-Paid Legal offers that I wanted to mention is that if you are
ever audited by the IRS, which seems to happen more to us investors than the average person, you receive 50 hours of paid attorney time. Facing the IRS without the support of an attorney just isn’t something you want to do.
Do you have your will done? No? You are not alone; 80% of our country does not have a written will. Pre-Paid Legal will do your will at no charge and your spouses‘s, or significant other’s (if living together), for an additional $20. Stop putting it off. You need to get your will done. It is free now so there are no excuses.
If you are a seasoned investor, I have probably already mentioned at least one thing that has happened to you where you would have benefited from an attorney’s assistance (hopefully not too much more than one thing!) If you are a beginning investor, I can pretty much guarantee to you that at some point in your investing career you are going to NEED an attorney. There will be plenty of times when it will be to your benefit to make use of an attorney, but there will be at least one occasion in your investing career where you will NEED an attorney.
As Real Estate Investors, Brokers, and Agents, when we buy and sell houses, we often make use of Realtors and mortgage brokers on our transactions. Each time we do, they get paid for their work, usually a percentage of the cost, which amounts to thousands of dollars. If you could retain a Realtors and a mortgage broker for $25 bucks a month to take care of you wouldn’t you jump at the chance? Here’s the thing, attorneys charge MORE than Realtors or mortgage brokers! I recommend Pre-Paid Legal to every investor, broker, or agent I know because it’s such a great deal and I make use of it myself and I know.