Our guest is Seth Bradley, a commercial real estate investor and legal advisor. Buckle up because today we dig deep into the legalities of real estate investing. We first discuss the things you should do as an investor to make sure you're covered from a legal standpoint. Then we talk from the perspective of a limited partner and a syndicator in a CRE syndication deal. Tune in to understand the legal side of real estate investing a bit more.
Learn more about Seth and his journey at reiclarity.com!
“I house hacked into a duplex within the first couple of months of getting my first paycheck at a big law firm.“
Seth went to law school and started his career in a law firm. However, he always knew he wanted to invest in real estate and live a more balanced life.
He did a house hack first and soon started buying single-family houses, duplexes, quads, and even flipped and wholesaled a few properties. After 6 years, Seth was finally able to leave his W2 job and get into real estate investing full-time.
“If you can't talk to your partner about the partnership agreement right at the beginning, then you probably shouldn't be going into business with them.”
Seth explains the first few legal steps that new real estate investors should be thinking about as they move into the investing world.
According to Seth, the best way to find a lawyer for these agreements is to get a referral.
In the second half of the episode, Seth talks about the role of a limited partner investor in a commercial deal. He explains how to structure the operating agreement or limited partnership agreement correctly and what to look out for in a syndication from a legal standpoint.
“Set up your strategy with the end goal in mind.”
At the end of the episode, Seth picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Know Your Strategy”.
Seth’s recommendation for a well-thought-out strategy is to have the exit in mind from the beginning. If you work backwards from your end goal, then you can create a better strategy for your business.
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