Tips For Avoiding Lawsuits When Wholesaling Houses

Tips For Avoiding Lawsuits When Wholesaling Houses

How can you avoid the minefield of lawsuits out there when wholesaling houses today?

Lawsuits may sound scary to those new to the business world but the truth is that it is just a matter of time before you have one leveled at you. In fact, you won’t know you’ve hit the big time till you’ve have to fend off one or two. However, the difference in the impact comes from being prepared.

Providing you have a plan and are prepared for them most bring little to worry about and are easy to sidestep. If you aren’t ready it can get really ugly, really fast.

Unfortunately lawsuits and threats of them they are almost an everyday thing for real estate agents and landlords. Thankfully they appear to be far fewer and further between for most focused on wholesaling houses as a strategy; making it one more of the great reasons to choose it.

Lawsuits will come for virtually any reason today justified or not. In fact, there are far more of the frivolous and malicious variety than from genuine complaints.

However just because they are common doesn’t mean you don’t need to work to defend against them. If you don’t they will bury you, send you broke and make you old early.

So how can you discourage or fend off potential lawsuits effectively?

Those wholesaling houses should start by avoiding being an easy target. Just like walking a bad neighborhood; if you seem like easy prey you will be victimized. For investors this means protecting assets with LLCs and ensuring privacy so that not all assets are on public display in 2 seconds over the internet.

Doing great work and committing to an elite level of customer service also goes a long way. Pursue excellence and you’ll give people less reason to complain.

Of course there are those on a mission to sue someone and that will never be happy no matter what you do. So get good at recognizing the signs and cut these trouble makers off early.

When an issue arises always act early. Don’t let it alter your schedule. Get the best attorney you can afford. Sometimes that is all you need or even a letter from one can be enough to scare off many other attorneys that try to feed off of these bottom feeder cases.

Lastly and often most importantly know when to settle even if you are in the right. It will lower the expenses and protect your reputation too.

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