Again, you are just a consultant who helps the client manage the entire process.For this, you may get paid a percentage of the renovation costs (and perhaps a bonus for coming in under the client's anticipated budget), you may get paid a flat fee or you may get paid hourly.

And, that I enjoyed it.Fast forward many years and I now know that teaching, coaching and mentoring is my passion and purpose in life; it's flat out what I was put on this earth to do!

I'm not sure the bank would even allow you to charge the seller the difference -- on the HUD, the bank would protest, and POC you'd be breaking the short sale affidavit you signed saying there were no financial agreements other than what was disclosed on the HUD.It's all well and good that you take a hard stance with the bank -- and it's great if they cave and you get your desired commission -- but arguing that you have any legal right to a certain percentage doesn't make sense to me; and implying that you'd forego the transaction or charge your client the difference seems flat out unethical for a short sale.Again, as a licensed agent myself, I'm thrilled if you can get every possible penny from the bank, but your stance seems a bit too ideologic here, as opposed to doing what's best for your client.Just my $.02...

With people still coming back, (parents that stay in the city they left Katrina for while their children finished high school... people like my mother) i can say that with the distressed home and steadily rising market I see positive growth potential.I am flat broke... but I have been helping my grandparents and living with them during my college years... so i am not this lazy kid who wants to make it over night.

He has always charged me 5 points and 12% interest and now as I i only need it for max 4 months he wants to charge me his 5 points and a flat rate of $5000 to lend $40000 for up to 6 months.

There's a flat deduction for folks that fall under the AMT.Not only that, the Taxpayer Relief Act of 2013 reinstated the personal exemption phase out AND the limitation of itemized deductions.

In today's reality with the formation and implementation of the CFPB and all kinds of publicity about investor and mortgage fraud, to the point that even some circuit judge in the flat lands of Kansas or hills of Arkansas is aware of the new laws, they will be looking at your deal.

I see local guys advertising in SW FL at 50-65% LTV.

The other thing I've done on a house in which I rented out the three bedrooms separately is get the average monthly utility cost, and then say the place rents for X, and they are responsible to pay utilities at a flat fee of Y per month.I can see how the shutoffs would be a pain though.I'm also trying to get a rough idea of the cost involved in converting something like this versus the rents I'd pull from the end product, since I've not dealt with anything like this before.

After the crash, I wish I had flipped everything as I wouldn't have gone flat broke at age 43.