Guest Thomas Report post Posted April 7, 2004 I purchased William Bronchick's Lease Options course and I want to start investing. The course has forms: Lease/purchase Agreement, Escrow Agreement, Straight option Agreement, Memorandum of Agreement, Bill of sale....and others..... .Do I need an attorney to review those forms before I start investing? How much does it ussually cost?I am in Portland, OR.Thank you, Thomas Share this post Link to post Share on other sites
MichaelC 160 Report post Posted April 7, 2004 It's always a good idea to have a local real estate attorney review the contracts and agreements you plan to use. There may be some state specific statutes that will require the existing contract to be altered. It isn't required, but it is probably a good idea.How much it will cost can vary greatly from attorney to attorney. As a consumer you are well advised to shop around and find an attorney you are comfortable working with. You may need one in the future, for matters unrelated to reviewing your documents. You might want to start with your local REIC and ask other members who they recommend. There may very well be an attorney in the group who is willing to assist you. Share this post Link to post Share on other sites
Gary (MO) 0 Report post Posted April 7, 2004 Thomas,If you'd allow me to share my 2 cents...I'd strongly consider purchasing Michael's manual on Lease Options. He gives you all of the forms (both written and in Word format) that you might need to do L/Os and Cooperative Assignments. For only $97 you can't go wrong!GaryPS I think you'll find this forum a great resource for support and information. It get's rowdy sometimes but - hey - that's part of the fun! Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted April 7, 2004 Oh, and of course I have some pocket change to offer. I have Bronchick’s documents AND Michael's documents. I have chosen to use some of Michael's because they get the job done a little better and are less confusing. And of course, I'm surrounded by attorneys that have reviewed them and because of that; I have some of the best agreements around for the state of Michigan. I think Michael's consulting agreement alone is worth the $97.00! Which is the cost to get the whole course! As a matter of fact, it is one of my strongest agreements that helps me to do deals out of state instead of WAISTING my time on the phone. I have of course, added a "jurisdiction venue" clause that means that if a deal goes bust and people are unhappy; they have to come here to sue me. It's still amazing to me that Michael has all of these contracts in his course and only charges $97 for it! I'm starting to wonder what he uses to by his noodles fo his lasagna?Just my pocket change.AdamPS Boy, I went off and didn't answer the question. Two of my attorneys are $200 an hour. Pre-Paid Legal is free up to 10 pages a year. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted April 7, 2004 I have of course, added a "jurisdiction venue" clause that means that if a deal goes bust and people are unhappy; they have to come here to sue me. And just how long were you going to keep this cool idea secret from me? Jurisdiction venue......I like it.I'm starting to wonder what he uses to by his noodles fo his lasagna?Buy noodles? I thought everybody made them from scratch? Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted April 7, 2004 MC,Man, what was I thinking about the noodle thing.....sheesh... Of course you make your own noodles! Regards,Adam Share this post Link to post Share on other sites
Gary (MO) 0 Report post Posted April 8, 2004 See what I mean Thomas? Sometimes it just get's rowdy on here! Throw in Doug and Tony with Adam and...welll....just don't mention Italian food and a first annual Naked Investor convention in the same breath! (Adam has found other uses for his pocket change! ) Gary Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted April 8, 2004 Michael, I'm curious (and totally serious), do true Italians make pasta only from wheat, or other grains? What does this have to do with LP contracts? Simple! If you have bad contracts you'll be getting your pasta from Kraft. But if you have good contracts you'll be able to afford your own Italian master to make it from scratch Share this post Link to post Share on other sites
MichaelC 160 Report post Posted April 8, 2004 Hi, Doug. Nah, unless you go back a generation, most folks will buy their pasta from the grocery store. Let's face it: it's convenient, saves time, and from a taste standpoint they are perfectly edible. Excellent quality pasta from Italy is readily available in most locales these days. Doris' Italian Deli owns me. The usual ingredients are semolina flour, which is a slightly coarser grind of hard durum wheat, eggs, and water. I have two pasta machines and I must admit to never using them. My mom would often make homemade pasta. But, then again, she was old school. When I was a kid growing up in NY I couldn't be fat enough or have enough sweaters on if it was cold outside. A true stereotype . Share this post Link to post Share on other sites
Gary (MO) 0 Report post Posted April 8, 2004 Michael, Did your mom have "an old family recipe" for the sauce? (I'm not asking you to share it - I was just wondering) IMHO great italian food is not in the pasta but in the sauce! Some of the best I've ever had has sort of a "sweet tea" flavor - but yet that really doesn't describe it (I haven't been able to figure out what spice or combination that tast really is). Additionally, I think (again only MHO) the cheese used is another important ingredient; less so than the sauce but more so than the pasta. Actually, I've never given the pasta much consideration at all...Gary Share this post Link to post Share on other sites
MichaelC 160 Report post Posted April 8, 2004 Gary, I couldn't agree more. The pasta is not a big factor in the final outcome. Unless you have chosen some really off brand, (for example, Chang's Authentic Taiwanese-Bolivian Italian Noodles might be problematic). But, the keys are the other ingredients: the sauce is primary, and the quality of the cheese, too. And, yeah, dear old Filomena Carbonare made sauce each and every Saturday for our Sunday pasta. I learned from observing her in the kitchen. I remember asking her to write down the recipe for me. She looked at me and said "Recipe? I don't have any recipe. I just make it." Nothing was ever written down so I just had to learn by watching. BTW........Thomas? You still here?? Sorry, it seems your thread has been hijacked. Share this post Link to post Share on other sites
Gary (MO) 0 Report post Posted April 8, 2004 Can you tell me what spice would give the "sweet tea" flavor? It's a mild but definite flavor. My grandmother was known for her pancakes (of all things!). When we asked her to write down her recipe, we got the same answer as you did! "...pinch of this, etc..." she didn't measure anything! Interestingly enough, our middle daughter can make pancakes just like her great grandmother from the "recipe" we wrote down from watching grandma! Gary Share this post Link to post Share on other sites
MichaelC 160 Report post Posted April 8, 2004 Hard to say without sampling the goods, but I'll venture a guess and suggest either oregano or basil. Share this post Link to post Share on other sites
Michael T. 0 Report post Posted April 9, 2004 Hello All; Has anyone had Michael C.'s contracts reviewed for state of california. Thankyou Share this post Link to post Share on other sites
pinkerton 0 Report post Posted April 9, 2004 Hi Michael T., I'm reviewing the forms on a "as I go basis"--e.g. I'm gearing up for cooperatives so I modified the assignment form. Not because of California law, but because I thought it was somewhat ambiguous. (I know, I know...its hard to improve perfection, but...) Mike P. The Legal Eagle Share this post Link to post Share on other sites
