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R AISING M ONEY

Dividing Up the Investment Pie

How doyoudeterminethe best way to answer the questions about
who gets what in a deal and how much should someone be paid?
Find out who does these sort of things for a living, and tap their
brains. Lawyers and developers in your area who have successfully
handled similar situations are an ideal source of information and
worth whatever fee they charge. For example, you say to the
lawyer, Judy Jones, “What’s typical in these kinds of deals? What
kind of deal do you think can be made?” These people can guide
you in structuring a deal that will fly. They can tell you how they
tailored similar deals. They might say, “This is what I did last time
and it worked.” It’s not unusual for lawyers to represent clients in-
vesting in the type of deal you’re considering. In fact, it’s not un-
common foralawyertohaveaclientasalenderandaclientwho’s
an investor and to put them together in a transaction with the
lawyer preparing all the necessary documents.
As part of my legal practice, I have often been approached by a
client seeking a lender. If I was successful, I was paid a finder’s fee for
providing a lender, which was in addition to my fees for legal ser-
vices rendered.
Another thing to remember when it comes time to invest in real
estate is, “Never try to get something for nothing; always pay for it.”
The opposite is also true, “Never give something for nothing.” If
someone says to you, “I’ll do it for nothing.” That’s probably what
it’s worth, nothing!

MORTGAGE ALTERNATIVES FOR SMALL INVESTORS

If you don’t already own a home, you can still start investing in in-
come properties. But first, it’s important you keep this in mind: In

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