It’s an unfortunate fact of our litigious society: Most people are, at some point, going to be involved in litigation of some type. It could be personal, such as a divorce, custody dispute, or challenge to a relative’s will. It could be business, such as breach of contract. Or it could be one of thousands of other situations that drive people into court.

Certainly you should take all the necessary steps to make sure you stay out of litigation, but you should also know what you’re going to do if you find yourself in a situation of either suing or being sued.

Here’s what I did to make sure I have the best litigators on my team: I found out who the top litigators in my area are. In talking with the clerks at the courthouse, I asked who files the most foreclosures, who files the most lawsuits, and who are the bulldogs who have a reputation for fighting hard and winning. I asked these same questions of other investors at my local real estate investors club meeting. I asked my own attorney who he preferred not to face in court.

When I had identified the top five or so litigators, I made an appointment with each of them. I explained that I am a real estate investor and that I periodically need legal assistance with issues such as owner-financing, leases and other contracts, evictions, and foreclosures. I gave them a $1,000 retainer that would allow me to call on them whenever I need to.

Because of that retainer, they are legally and ethically bound to not represent anyone who is opposing me in a legal action. It would be a conflict of interest.

There are still plenty of attorneys out there for other people to hire if they need to consult a lawyer regarding any situation involving me, whether it’s a simple contract review or a lawsuit. But the best ones are on my team.

Amy Smith
Trainer, Wealth Intelligence Academy
Foreclosures, Lease Options