Page 76 - Trump University Commercial Real Estate 101
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TRUMP UNIVERSITY COMMERCIAL REAL ESTATE 101



                       Attorneys

                     As good as you may get at real estate, you should always have one or
                   more attorneys review your deals. It ’ s their job to stay on top of changes
                   in state and local laws. They also know how to rewrite contracts to be
                   as much as possible in your favor.
                         There ’ s another great reason to involve attorneys: They know a lot
                   about changes in your local real estate market. Attorneys get involved

                   when people file bankruptcy, when estates are liquidating property
                   after someone ’ s death, and when businesses are dissolving and fore-
                   closures will occur.
                         Cultivate attorneys the same way that you cultivate real estate bro-
                   kers. Then explain to them the sort of property you want to buy. If you
                   follow my relationship principles and have some patience, you ’ ll be
                   privy to deals that never hit the market.
                         You can connect with attorneys through business organizations.
                   Many active ones attend Chamber of Commerce and Rotary Club
                   meetings. They are there to get more business, and so are you.
                         Also ask your growing network of brokers plus your pals at the real
                   estate investing club. You ’ ll start to hear the same names come up, and
                   those are the best targets for cultivation.



                       Courthouse

                     Because many real - estate - related events are on the public record, your
                   local courthouse is a good source for deals. There you will discover who
                   has filed for bankruptcy, who is on schedule for foreclosure, the dates of

                   sheriff ’ s sales, and so on. Though many companies provide this infor-
                   mation for a charge, I ’ ve found such services usually have stale informa-
                   tion, to the tune of three to six weeks behind actual courthouse fi lings.
                   That lag time gives your competition too much of an advantage.
                         Instead, consider taking a weekly trip to the courthouse and get

                   the filings. Once you do it a couple of times, train someone else to do
                   it for you. Remember — delegate, delegate, delegate.


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