I’m too embarrassed to ask this on Reddit so I’m asking here: can practicing in real estate transactions and tax (planning) become a niche area? Or is there already a lot of attorneys practicing both (not including property tax appeals)?

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Enough for an entire Bowl on this app…

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I’ve been practicing for 24 years, all in commercial real estate, primarily representing REITs and non-REIT real estate investment funds before going in-house.

Lots of real estate lawyers are tax conversant (issue spotters, primarily), but I’ve not encountered any who were both tax experts and real estate experts.

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You’ve got the tax background; now focus on the RE. If you’ve got a good academic pedigree (or law review or multiple publications) you should be very attractive to any number of AmLaw 50 firms (which will bring you the greatest comp).

I think it works; particularly 10-31 work, trusts, and international tax is a splendid niche (fetching north of $800 an hour easily).

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Abaolutely

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There are many law firms that have real estate transaction specialists, both investor side and lender side. There are also attorneys that specialize in RE. workouts. Tax planning is also a massive industry and there are firms and attorneys who primarily focus on Tax whether it be for estate planning or real estate, and often both. Tax attorneys often specialize in the best way to avoid paying taxes.

I have seen at least one tax attorney focused on real estate issues (ie joint venture stuff) and it seemed pretty niche; that partner was the go to person doing that. I assume he had a lot of other work too that was not just real estate focused.

Yes, in fact it has become very niche. I think I'm one of a handful of people who has a broad based CRE practice these days. It does pay to know workout in addition to your niche so you can still work in a down or bad market.

Yes and right now estate transfer through llc and trusts during phased sub-division build outs is good as well as solo-k or sep Ira's converted to self directed later has been a big play in helping investors set up a retirement qith asset growth.

It is already a niche area which big4 + many other tax firms do. I am specialised in real estate VAT and do a lot of due diligences and consultancy relating to VAT and real estate.

I forgot to write - it is a good niche! The real estate industry "always" has money and is not very price sensitive. For VAT, many customers in other sectors believe what we do is easy and often consider that "it shouldnt take more than 15 mins to answer my question, so we assume it will not cost very much". When it comes to real estate, they have a bigger understanding and respect for our knowledge and they are prepared to pay for it.

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Yes, big time.

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