Helping Sister Invest in My City

[Scott Schultz]

Hey all. Hope your Easter weekend was great. I have been investing in residential real estate for 15 years and my sister wants help in buying investment property in my city. She lives out of state and I have agreed to manage the properties for her after purchase...for a fair fee, of course.

We haven't however discussed costs for me to work with my local real estate agent to identify and do the pre-purchase due diligence on the properties as she most likely will not be available in person to see them. What is a reasonable fee to charge? Should it be a percentage of the assets purchased or an hourly rate. Thanks for any input.