Opening Up Own Firm After Law School Forum

[Lying Lawyer]

For the most part, everyone in here wants to go into "Big Law." Is there anyone that went into private practice by themselves right out of law school? I know it's blasphemy here. I want to know what you thoughts are on it? I'm a 36 year old male. I run my own small real estate business. A few years ago I explored law but as I was going to retake the LSAT (didn't like my score) before my wife got pregnant so I put it on the back burner. It's something I can't just "get over" so I am seriously considering it again. I live in South Florida and while many of you may ask why not continue with my real estate business, it's because the last crash has me worried about future ones. We're having another little boom down here and I expect another one and law is what I keep coming back to. As part of my business I also buy foreclosed properties at auction from time to time. Once again, not as great as many of you would think down here. While University of Miami is the best school down here, it doesn't offer a part time program. FIU which is lower ranked does. It's a public school so tuition won't be through the roof. With my background I can realistically see me doing real estate law, working either side of the mortgage foreclosure isle, I also have a construction background. Wanted to know the thoughts of those going at it alone. Since I work for myself, I just can't see myself working for someone else and with a family, interning (working for free) isn't a good option for me.

[itachiuchiha]

how are you gonna get clients? and experience?

[Lying Lawyer]

how are you gonna get clients? and experience?

Typically 3% of graduates open up their own firm right out of law school. In the las few years it's up to about 5%. Thats why I ask. I certainly have a network of past real estate clients. There is't much litigating in real estate law. A lot more crossing your Ts and dotting your Is. As a real estate broker I have plenty of experience with contracts. I basically taught myself about mortgage foreclosure law in Florida.
From my research online most just advertise, put up a website and build slowly. I was hoping some of our forum members were going this route and can shed some light.

[kalvano]

I think you are vastly underestimating the experience required to work effectively in real estate. My work touches on real estate a lot, and almost nothing I learned in law school was helpful or useful in working through the issues that come up, save for a general knowledge of easements. I'd have been completely screwed without having more experienced attorneys to work with.

[randomstudent]

Can you intern during law school at a small law firm? I have two friends who each worked during law school for a solo attorney and then transitioned after law school into some sort of partnership arrangement with the attorney they worked for. As far as just jumping straight into solo practice after graduating from law school, it's been done before, but I wouldn't recommend it, even if you are absolutely brilliant. There are just too many things to figure out "on the fly" without another attorney to bounce ideas off of. At the very least, if you're going to jump straight into solo practice (which I would not recommend), find a secretary who has worked for a really good attorney for many years and pay him/her well.

[daleearnhardt123]

OP you should know that it's extremely unlikely anyone in this thread will be able to give you good advice. What I'd be wondering if I were you is the following: 1. Do I understand what the lawyers in all the transactions I'm a part of are doing? 2. Would I be able to seamlessly eat into that business if I had a JD? 3. Does it generate enough $ to make the 3-4 years of school and the cost worth it?

[foundingfather]

OP, I know of at least one person that recommends starting your own practice right after law school. They also wrote an entire book (tome) on it. Google "How to Start and Build Your Own Law Practice" by Jay Foonberg. It's pretty interesting and eye-opening.

The whole thing seems very risky but also incredibly rewarding if you happen to succeed. Godspeed

PM me if you'd like to chat - I'm also in the SoFla area

[sideroxylon]

I too wish to engage in legal malpractice while trying to build a client base from scratch.

[Emma.]

I think you are vastly underestimating the experience required to work effectively in real estate. My work touches on real estate a lot, and almost nothing I learned in law school was helpful or useful in working through the issues that come up, save for a general knowledge of easements. I'd have been completely screwed without having more experienced attorneys to work with.

OP, law school is largely training for litigation. And I imagine that a large number of the people who open up their own shops straight out of school are (by necessity if not choice) forced into picking up whatever work trickles in, whether that is DUI defense or whatever. I suspect it is really rare for someone to be able to successfully open up a specialized practice -- especially a transactional practice -- without getting training and experience working under someone more senior.