Hi BP community, I'm looking to open a real estate trust account.

Originally posted by Account Closed:If you use the California CAR form the timeline is specified in the purchase contract.The buyer has a certain number of days from receipt to cancel, so it's best to get it in buyers hands as soon as possible. 

This also doesn't take into account how long it will take to find a long term renter, I have been told by numerous PM that the demand is there and rental vacancy is less than 1%.I am looking to use this home for long-term rental and have found that the average monthly rate is between $1,500-$1,800 / month.

Account Closed my very first building was a four unit in Lyons, IL, and I inherited four tenants.

These might attract less affluent white collar tenant, such as nurses, new doctors, new lawyers and accountants.

I have created my LLC, gotten my tax ID number and Dunn's number, opened my business account.

I guess I should’ve listened more in my business law and accounting classes!

You complete distribution request, submit it to your custodian and they will mail you the check or deposit funds into your personal bank account.

Secondly when you're not working 2-4 open houses a weekend (yes that's a must when getting started) and having the 30-60 minute coffee appointment, focus on establishing accountability partners (brokers who have also started recently or in a similar groove as you), listen to podcasts or read books, and work establishing good habits early and developing a good mindset. 

The agreement I signed with the real-estate (property management company) says the Broker will maintain security deposits received from tenants in a trust account and will account to the tenants for the security deposits.