Comprehensive Real Estate Investor Legal Team Questionnaire

Introduction Script

“Hello, I’m [Your Name], a real estate investor building my professional team. I was referred to you by [Source] and would like to understand if your expertise aligns with my needs for sophisticated real estate investment structures and transactions.”

I. ASSET PROTECTION & ENTITY STRUCTURING ATTORNEY

Entity Strategy & Selection

1. What percentage of your practice focuses on real estate investor entity structuring?

2. Walk me through your analysis for choosing between LLCs, S-Corps, and C-Corps for real estate holdings.

3. When do you recommend S-Corps for rental activities versus using LLCs?

4. What scenarios justify using a C-Corp for real estate investments?

Land Trust Expertise

5. What is your experience with land trusts in our state?

6. Do you recommend titling properties in land trusts with LLCs as beneficiaries? Why?

7. Do you provide standardized land trust documents or create custom agreements?

Advanced Asset Protection

8. What is your philosophy on entity layering for asset protection?

9. Can you sketch a sample structure for an investor with 10+ properties?

10. What are the advantages and risks of Series LLCs versus individual LLCs?

11. How do you structure holding companies and operational LLCs to isolate liability?

12. What are the most common ways investors inadvertently pierce the corporate veil?

Implementation & Maintenance

13. What is your process for setting up a multi-tiered entity structure?

14. What ongoing compliance services do you provide (annual meetings, resolutions, etc.)?

15. What are your fees for establishing and maintaining complex entity structures?

II. CLOSING ATTORNEY / TITLE AGENT

Investor-Specific Experience

1. What percentage of your closings are for real estate investors vs. homeowners?

2. What is your experience with double closings and assignments?

3. Are you comfortable with hard money and private lender documentation?

Complex Title Handling

4. Are you experienced with titling properties in:

   • Land trusts?

   • Series LLCs?

   • Multi-tiered entity structures?

5. What are the specific requirements for properly titling assets in these structures?

Specialized Services

6. Do you handle repair escrows/holdbacks?

7. What are your fees for escrow setup and disbursements?

8. Are you familiar with Self-Directed IRA purchase documentation?

Network & Resources

9. Can you refer me to investor-friendly agents, lenders, or private money sources?

III. SPECIALIZED REAL ESTATE ATTORNEY (Litigation & Complex Issues)

Expertise Areas

1. What percentage of your practice involves real estate litigation and complex title work?

2. What is your experience with:

   • Quiet title actions (especially for tax sales)?

   • Probate proceedings for property acquisition?

   • Foreclosure processes (both lender and investor side)?

   • Landlord-tenant disputes?

Asset Protection Integration

3. How do you litigate against one entity in a structure without jeopardizing other assets?

4. What is your strategy for defending single-asset LLCs?

5. How do you handle initial titling of distressed properties into asset protection structures?

IV. PRIVATE LENDING & SDIRA SPECIALIST

Private Lending Structures

1. Do you recommend conducting lending activities personally or through entities?

2. What documents do you use for private lending agreements?

3. How do you handle state usury laws and compliance?

4. What is your default and foreclosure process?

Self-Directed IRA Expertise

5. What experience do you have with SDIRA real estate investing?

6. How do you structure SDIRA partnerships and LLC investments?

7. What are the most common prohibited transaction pitfalls?

8. Can you recommend experienced SDIRA custodians?

V. REAL ESTATE CPA/ACCOUNTANT

Entity Tax Strategy

1. What is your experience with real estate investor tax planning?

2. Compare tax treatment across multiple LLCs, Series LLCs, and holding companies.

3. How do you handle profit distributions across tiered entities?

4. What are the tax implications of transferring properties into new entities?

Advanced Tax Planning

5. How do you utilize cost segregation and bonus depreciation?

6. What is your experience with 1031 exchanges?

7. How do you track basis and debt across multiple entities?

8. What are the tax implications of SDIRA investing and private lending income?

Ongoing Services

9. What bookkeeping systems do you recommend?

10. Do you offer quarterly tax planning meetings?

11. What is your fee structure for ongoing accounting and advisory services?

VI. COMPARISON & DECISION FACTORS

For All Professionals

• What is your typical response time for urgent matters?

• Who will be my main point of contact?

• What is your billing process and how are surprises avoided?

• Can you provide 2-3 references from real estate investors?

• What educational resources do you provide clients?

Red Flags to Watch For

• Unable to explain complex concepts clearly

• Unfamiliar with land trusts or entity layering

• No real estate investor-specific clients

• Vague about fees or billing practices

• dismissive of asset protection strategies

• Cannot provide sample documents or structures

Green Flags

• Asks detailed questions about your goals and portfolio

• Provides clear sample structures and strategies

• Demonstrates understanding of state-specific laws

• Has a team approach with other professionals

• Offers proactive planning rather than reactive services

• Clearly explains fees and value proposition

Next Steps Action Plan

1. Interview 2-3 professionals in each category

2. Compare their proposed structures and approaches

3. Check references specifically asking about:

   • Responsiveness

   • Complexity of work handled

   • Fee transparency

   • Problem-solving ability

4. Start with entity structure attorney first – other professionals will work within this framework

5. Implement structure before acquiring significant assets

This questionnaire is designed to identify professionals who can provide sophisticated, integrated solutions for building and protecting real estate wealth. The ideal team will work collaboratively across legal, financial, and transactional domains.