Episode 041: An Interview with Auburn Real Estate Attorney Russell Balch (2 of 2)

04/27/21 • 76 min

Auburn Investment Properties Podcast with Chris Kearns

In this Episode, you'll hear the second of two parts of an interview I did with my long-time Real Estate Attorney, Russell Balch of the law firm Akridge & Balch in Auburn. Besides being my attorney, Russell has also been my office landlord for a few years too. I met Russell through my first post-college employer (Fred & Miles of the Charter Companies) in the late 1990's, and when I started my mobile home sales business way back in 2000, Russell was my guy!
Eventually, I moved on to single condos, and then started buying apartment buildings to turn around, or renovate and cut into condos. Later on, Russell helped me acquire a 50+ unit portfolio with a multi-million dollar "Lease-Option" type of contract. Well, that huge acquisition completely burned me out and I needed a break for a while, so I decided to sell all of my properties, and Russell helped me with that, too. He's started 8 or 9 LLC's for me, either as solo businesses or with partners, and I always felt prepared for what happened next, even when one of the partners in a 3 man group actually died and the other filed bankruptcy! The bottom line is this: a good Real Estate attorney is one of the most valuable members of your team, and Russell is a damn good one.
Listen in as Russell and I talk about: (items in bold are in this episode, the rest were discussed in the previous episode)

Various types of closings
The differences between Residential and Commercial Deals
The finer points of contracts and how they can affect negotiations
Contract and the review process for complicated deals
Options, Due Diligence periods, and Hard Money clauses
LLC's and how they are designed to be firm but flexible, and can be modified on the fly to fit your evolving projects
Three types of dispute resolution (Mediation, Arbitration, and Litigation)
Parting thoughts and words of wisdom

Links from this episode:

Work with Me
Expert Legal Services for Real Estate: Russell Balch at Akridge & Balch, PC
Call Russell or my go-to lady FB Henderson at (334) 887-0884
Real Estate Brokerage Services: AuburnInvestmentProperties.com
Real Estate Investor Coaching: BetterREI.com

Various types of closings
The differences between Residential and Commercial Deals
The finer points of contracts and how they can affect negotiations
Contract and the review process for complicated deals
Options, Due Diligence periods, and Hard Money clauses
LLC's and how they are designed to be firm but flexible, and can be modified on the fly to fit your evolving projects
Three types of dispute resolution (Mediation, Arbitration, and Litigation)
Parting thoughts and words of wisdom

Links from this episode:

Work with Me
Expert Legal Services for Real Estate: Russell Balch at Akridge & Balch, PC
Call Russell or my go-to lady FB Henderson at (334) 887-0884
Real Estate Brokerage Services: AuburnInvestmentProperties.com
Real Estate Investor Coaching: BetterREI.com

Previous Episode

Episode 040: An Interview with Auburn Real Estate Attorney Russell Balch (1 of 2)

In this Episode, you'll hear the first of two parts of an interview I did with my long-time Real Estate Attorney, Russell Balch of the law firm Akridge & Balch in Auburn. Besides being my attorney, Russell has also been my office landlord for a few years too. I met Russell through my first post-college employer (Fred & Miles of the Charter Companies) in the late 1990's, and when I started my mobile home sales business way back in 2000, Russell was my guy!
Eventually, I moved on to single condos, and then started buying apartment buildings to turn around, or renovate and cut into condos. Later on, Russell helped me acquire a 50+ unit portfolio with a multi-million dollar "Lease-Option" type of contract. Well, that huge acquisition completely burned me out and I needed a break for a while, so I decided to sell all of my properties, and Russell helped me with that, too. He's started 8 or 9 LLC's for me, either as solo businesses or with partners, and I always felt prepared for what happened next, even when one of the partners in a 3 man group actually died and the other filed bankruptcy! The bottom line is this: a good Real Estate attorney is one of the most valuable members of your team, and Russell is a damn good one.
Listen in as Russell and I talk about: (items in bold are in this episode, the rest were discussed in the previous episode)

Various types of closings
The differences between Residential and Commercial Deals
The finer points of contracts and how they can affect negotiations
Contract and the review process for complicated deals
Options, Due Diligence periods, and Hard Money clauses
LLC's and how they are designed to be firm but flexible, and can be modified on the fly to fit your evolving projects
Three types of dispute resolution (Mediation, Arbitration, and Litigation)
Parting thoughts and words of wisdom

Links from this episode:

Work with Me
Expert Legal Services for Real Estate: Russell Balch at Akridge & Balch, PC
Call Russell or my go-to lady FB Henderson at (334) 887-0884
Real Estate Brokerage Services: AuburnInvestmentProperties.com
Real Estate Investor Coaching: BetterREI.com

Next Episode

Episode 042: What's Your 5 Year Plan?

In this Episode, I'll talk about the genius and the beauty of a coming up with a 5 Year Plan. They say that people often OVERestimate what they can do in 1 year, but UNDERestimate what they can do in 5 years, so I want to encourage you to look at where you are now and give yourself some goals and direction by looking 5 years out into the future.
I'll tell you how my first 5 Year Plan helped me get out of the apartment business and reshape my life, and how my dog Bodie, helped me realize it was time to come up with another. We'll also talk a little bit about how Robert Kiyosaki (Rich Dad, Poor Dad book), and Dave Ramsey (Radio Show & Total Money Makeover book), and how their differing advice can help you see the big picture and choose a path that fits for your life situation.
Links from this episode: