How a Real Estate Business Hired a Lawyer to Draft a Real Estate Investment Agreement in Virginia

In 2021, a business in Virginia sought assistance in drafting a real estate investment agreement to facilitate a multilateral operating arrangement for a rental property. The client, consisting of four siblings, aimed to establish a structure that would not only promote the growth of their shared assets but also enable the generation of passive income for those actively involved. With some siblings residing outside of Virginia, clarity and legal precision were paramount to ensure long-term benefits for future generations. As a result, the client received five proposals from licensed attorneys, with flat fee bids ranging from $485 to $1,300, all submitted within the week-long deadline requested.