I am a business and real estate attorney at McAlister, McAlister, Baker & Nicklas PLLC. To serve the Oklahoma real estate community, I write articles designed specifically for investors and other real estate professionals.
Real estate creates financial freedom. Real estate millionaires live on passive income, enjoy financial freedom at an early age, and pursue the most meaningful things in life wholeheartedly, unhindered by financial constraints. How does that sound?
Real estate also creates financial ruin. Washed up real estate investors struggle to put food on the table, wishing they had never ventured naively into the merciless real estate industry. Many are allured by the promise of passive income and accelerated wealth, only to have their hopes dashed against the rocks of unforeseen risk. How does that sound?
How will you navigate the landmines of real estate risk on your way to the promised land of real estate reward? Whether you’re a seasoned investor or a beginner, you cannot avoid exposure to risk. Other than the school of hard knocks, education is the best way to minimize risk and maximize reward. Better yet, free education. By educating yourself on some critical legal concepts, you can accomplish the following:
- Reduce attorney fees. The more you learn to avoid legal landmines on your own, the less you will need an attorney.
- Increase property values. By solving legal and title issues that scare away other buyers, you can capitalize on undervalued properties.
- Mitigate risks. Learn to implement appropriate safeguards against liability and risk.
- Protect assets. Millionaires only stay millionaires if they learn to protect their assets. Legal knowledge is the primary way of accomplishing this goal.