Hi,
When I graduate from uni I will have the opprotunity to work as a lawyer specialising in property related matters. Would this be helpful to a property investing career at all?
Patrick.
And any way to edit your posts here? My spelling of opportunity in the above post was horrible [ohno2]
should be an edit button in the top bar of the post.
And follow your dreams!
______________________
I know I can, I know I can
nope, no edit button for me… [angry2]
The whole thing of doing what you love career wise is generally not important here, cause I like most areas of law apart from torts and family. I’d get alot of satisfaction out of being a property lawyer, and would get alot out of being a patents lawyer. I’m just wondering whether there’s any part of the investing process where being a property lawyer might be an advantage.
Would need to be a specific and definite advantage though, cause I have the skills to look up the general law and get a reaosnable understanding of it.
hi pat v
if you focus on earning the strongest personal income steam available you will be able to pay the monkeys to do the property work. its tried and true.
cheers
brahms
Mortgage Broker
[email protected]Hi Patrick,
I don’t know what its like in otherb states, but in Victoria there is a huge and growing amount of work for town planning solicitors.
Regards
AlistairThe money is in Environmental Law (Corporate) as far as I am concerned. Make the money there and invest it in property and whatever else tickles your fancy.
Robert Bou-Hamdan
Mortgage Adviser0414 347 771
[email protected]
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Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdI would suggest there wouldn’t be much money in property, but maybe you could do it short term to learn and then move on to more lucrative areas.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Click below to email meTerryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hey Pat
I’m in exactly your position – just finished uni and about to start work in March. I thought about working in the property division a lot and spoke with a fair few people around the firm where I am going to be working about it.
I’ve previously worked in the property division of a firm for a couple of weeks (vac work) and didn’t find it that great. On top of this, depending on what type of firm you’ll be working for, most of the work won’t be relevant for your investing situation. Usually, you’ll be working on larger deals where you’ll be assigned a very specific task that won’t be relevant at all.
I asked one of the blokes I work with, who has been working in the property division for 2 years now, whether it had helped him with his personal property dealings and he said that it hadn’t at all – although he did say that he could at least identify all the relevant docs – but that’s not hard.
Again, all this depends on what type of firm you work for, but I certainly wouldn’t sacrifice working in the division you’ll most enjoy for the chance that working in property law may help a bit with your investing.
I agree with the comments above, get someone else to do the legal work for you.
ok this is probably going to sound a bit ‘off’ but I disagree. Investing is a huge committment (im a complete amateur and have already worked this out) in terms of time and effort – which begs the question of having personal time. If you are anything like me, investing is all consuming and I think that you need an outlet away from the industry. You will pick up the necessary info as you go, so Id suggest focussing on an area which you feel you can sustain long term employment in – combined with your sanity.
Short version: as a psychologist I can say that it is wiser to take a broad knoweldgable approach to life than an intensified narrow perspective. Attempt to gain knowledge in all life areas, not just investing! Otherwise, you may run the very real risk of becoming burnt out and throw your plan away. Have some ‘me’ time!!! Do what you love – you have spent long enough at uni to have a decent career, not just a job to pay bills with and yep, your career will be the vehicle to your goal of financial independence, but what is the point if you are miserable and dissatisfied.
I refer you to Steve’s first ‘bible’ – he left his paid jobs as he was dissatisfied, to enter into what stimulated him. You come first, investing is just a means to an end.
Hope it helps
Patent law pays big $$, so like a few people have said above, you may be best to do what you like best, and pay someone to do all the boring nitty-gritty stuff & running around etc. You may, however, find that a small to medium sized law firm (not necessarily specialising in property, but related to investments etc) may lead to larger deals, and the income would support such deals.
I’m currently in your position (studying law/commerce) and have my agents rep licence, and know that when a developer sells through an agent, there are usually discounted properties available for the agents in the office, and can’t see why it wouldn’t work for a law firm as well. You need to be able to meet people in business and profit off them.
It’s not what you know, it’s who you know! And your income from any law degree will eventually be more than enough to provide some money to invest with.
Hopefully this helps in some way, I’ll be interested to see other replies. Good luck Pat!
(“,) $$$ HoLdEnCoMmOdOrE $$$ (“,)
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