Let them know your partners say that they wont be able to get financing on it unless it hits the 37k (thats where your subject to lenders approval comes in handy)Now i know you are taking a cut on your fee...but your sellers are more likely to accept 37k rather than 35k...and 3k profit for you is alot better than 0and if they dont accept ...let them know you are sorry you cannot help them out....and if they change their mind your offer still stands.Move on too the next one.

Lenders generally will not accept a contract like that, because they know you are going to take a cut in the process of selling it to someone else.

The original e:mail had a cut and paste of the actual Ashley Furniture logo, but a fake version of the company mission statement.

Acutally, we will probably be moving out of there here soon (and turning our house back into a rental again) but by owning most of the houses on the street it will help us keep a 'standard' for the street and help keep everything looking nice.

There is nothing wrong with that.It sounds like the realtor you mentioned found a lead on his own and wants to sell the five houses, make a cut of the proceeds and not share with the broker, correct?

Do you have some desperate sellers that would do such a deal and give you a cut of the up front cash?

First, this shouldn't be just a "cut a check" situation.

Contact a reputable short sales agent and see if they will give you a cut or have them negotiate it and wholesale it.

Now I understand the value of having someone you can trust on the ground and I'm not saying this person shouldn't get a cut but perhaps you should work out a deal where your partner gets a scaled % that increases over time as you do a few deals and see how the work and effort split plays out.

Yes, the firm gets a cut on both sides, but REO splits (I'm assuming your area is like others in the country) aren't great, and the selling agent "supplement" can make all the difference.