There was no set timeline (should have been a 6wk project, now 5 mo and counting); the budget was mentioned to be about $30k, but was not itemized and was subject to change...but if this man abandoned the project or otherwise caused harm to it, my friend was entitled to quit claim him off and finish the project himself.

I'm mentioning this because the property you buy may not appear to need any repairs now, but you never know when a bigger-ticket item will reach out and bite you.

The traditional word "Broker" that most people know and utilize CAN get you into trouble depending on the state.

Do you pay for appraisals and title insurance for each property like you would in a traditional refinance or purchase?

Together with all of the following items; curtains and rods, window coverings, wall-to-wall carpeting, mirrors, lighting and plumbing fixtures, ceiling and attic fans, satellite dish, antenna, installed heating and air conditioning units with controls, shrubbery and all other property owned by the Seller and attached to the above described real property.3: SALES PRICE:A.

Using the expenses (all expenses, including vacancy and capital items) are 50% of rent rule of thumb, your example will need rent of $2762 (I get $1381 for the payment with those terms) to be break even.

Generally speaking, you want to have enough to cover ALL of your expenses (including financing) for 6 months in a reserve account.Many others make sure to calculate into their monthly expenses, items like vacanies, capital expenses, etc. so that each month, they add to their reserve.

So I was thinking about investing a little time into some classes at the local college geared towards brokers and agents. Specifically I was interested in the property management and finacing classes as these could po...

I know some go back 5 years, and am not sure if this is because it is just impossible to find low income tenants w/out one of these two items in their past or if it is just a business decision to compromise and get a tenant into the property.

Some of the items that he will check are the obvious, plus the faucets.