You certainly won't find a 50/50 split of profits just for finding the deal... with the other side taking on the cost and risk, that's not a good arrangement for them.

She was a long term tenant with a good history when she requested the arrangement so it was easier to say yes.

In summary Rick you can 1) borrow from mom if you understand the possible consequences and risks of that arrangement 2) borrow from the bank as you appear to have the resources to do so without assistance 3) find a property you can buy all cash with your own funds now or save up and buy a larger property all cash later or 4) continue to seek input from other investors on alternative strategies.

Thanks Brett Synicky, I definitely will let you know how I arrange it.

I agree with all of you I will just go ahead and pay what I would have paid the other landscaper. no more no less.I will also at this point forward separate any types of further arrangements.something just seems very insincere about waiting 5 months to ask me for back pay.If I had worked out an arrangement I would have done some quality control, inspections we would have talked about expectations and I would have held him accountable but it was my error and now I will have to pay. but I will no longer use him.

I am not interested in an "interest only" arrangement.

Such arrangements can take you from a non-judicial foreclosure into a judicial foreclosure, from your eviction court to a foreclosure, or from doing an eviction and then making allowances for improvements made, it can also go the other way if the work is not professionally finished as a damage, or code violations.

I would like to make the transition to becoming a real estate agent however I want to make sure I do it the right way.My plan is to take real estate classes, pass the test, get sponsorship by a broker and receive my license.

Definitely need to do some reading before entering into this arrangement.

If you were the broker would this seem like a reasonable arrangement?