Will the second property be wash, rinse repeat as far as order of events go?

I will be and paying for all the materials and original cost of the property I would like the percentage to be fair.His thought was he found the listing and should be compensated for the find.My thought is I have the cash and that equals his find for the listing.We signed a purchase agreement together and are stuck trying to work out this percentage.We either agree on a percentage or walk from the deal, were set to close in one week.

That way if they don't like the way I am handling their contracts they can get out whenever with one month's notice and if they aren't holding up their end of the bargain or taking care of repairs and letting their home become a "slum" I can wash my hands of it as well.

Was he a poor operator?

So I did research on the 37 properties and found this 2/1, 1270 Sq Ft home that had been abandoned on about 3/4 of an acre lot, it has a one car garage and wash room.

You can wash off small marks and scuffs and still spot touch up without it being obvious.

That would come out in the wash.

Originally posted by "**********":Jer,I always read hundreds of posts by younger newbies who buy a coarse and want to jump in full time and become millionaires.Usually they have been brain washed to not only believe that they can get rich in RE with no capital, no money down, bad credit etc.

And no money changes hands until settlement.You should look for brokers that are in the areas of CA and Wash. where you want to invest and have knowledge of the area.

For now I am not assuming rent increase except to keep up with inflation 1.5-3%, but epxpenses would increase at the same rate so a wash.