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Joe Lee

Lease Option forms

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MichaelC, in your course, are your forms good for general use throughout the U.S.? I live in ohio, and has anyone ordered your course from ohio and said if anything needed to be changed for that state? I would goto an attorney for this, but I have no money to do so, and I don't want the chance of an attorney giving me bad advice. Also how Up-to-Date is your course? I have Ron Legrands cash flow courses, don't get me wrong, they are awesome in explaining how to get the deals done and all, but they just seem outdated. For example, this one track some lady in the background made a comment about some tax law that was going to take effect in 1992 (I think) and that gave me an unsettling feeling to say the least ^_^ I'm not saying all his stuff is that old, but when I heard that, I wasn't too thrilled. :)

 

-Joe

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Joe, The Naked Investor was written in October, 2002. Up to date, to say the least.

As for whether of not my Agreements are valid in all fifty states, I cannot say. They have been successfully used in NM, FL, AL, CO, TX, CA, WA, MD, VA, and Washington DC. There may be other states on that list which I am not aware.

Generally, a good contract will cover most issues that arise during a typical transaction. On occasion, an existing paragraph may conflict with local or state law. When that happens, local or state law always prevails and, in fact, that is stated in my Agreements.

Let me give you an example. While in NM, I had a lease agreement that stated a $15 per day late fee would be imposed for every day the rent was received after the due date. Well, this became an issue when I needed to bring an eviction against a tenant. In the court, the judge advised me that NM laws imposes a maximum allowable late penalty of ten percent of the monthly rent. I was awarded a late fee equal to that amount, rather than what was written into my Agreement. No big deal, and I am wiser for the experience.

Also, Addendums are the form that fills in the missing pieces, so to speak. Whatever may be in your standard agreement, can readily be adapted to meet local or state requirements with the use of an Addendum.

As for the specifics of using these Agreements in OH, I don't see it as a problem based on my experiences with other locations.

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Ok, how much then would it cost to have a lawyer look over and correct the documents, if need be? Well, how much should I pay, I don't want to overpay where I dont need to.

 

-Joe

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The fee charged can vary widely. If you set an appointment with an attorney you don't know and don't have any prior relationship with, expect to pay "full retail".

On the other hand, you can try one of those prepaid legal plans. I am not personally familiar with them, but I see they charge between $15 to $20 monthly for their services, which include contract review. Of course, do some research before going this route.

Also, Joe, have you contacted one of your local REI groups? There is surely some member who can recommend an attorney from their personal experience. There are probably a number of attorneys who are members themselves, and who may offer discounts to other group members.

Overall, with a little effort on your part it shouldn't be difficult to have a legal eye review any contracts at a reasonable and fair cost to you.

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Yea, I'll prolly try to get one at a REI meeting, that sounds better than just going to a lawyer that just does general law. I hope the attorneys at the REI meeting will cut me some slack ^_^

 

Thanx

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Yea, I'll prolly try to get one at a REI meeting, that sounds better than just going to a lawyer that just does general law. I hope the attorneys at the REI meeting will cut me some slack :)

 

Thanx

If they don't cut you some slack sue the bastards for discrimination, or walk by close when he/she is drinking a hot coffee and sue for pain, suffering, and disfigurement ^_^

After you collect your out of court settlement, hire the same attorney to review your contracts. Ya gotta think outside the box, Joe!

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Hahaha!! That just might work ^_^

 

By the By, just about to order your course. Can't wait to get it!!

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Joe, thank you for your order. And let me thank you, also, for your participation and contributions to the board in its early stages. Both are very much appreciated.

I'll be sending you an email momentarily with delivery confirmation.

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