If an agent has 10+ assistants and they are the rainmaker at the agency office, why not just leave, take all your assistants with you, set up your own brokerage, and cut out the broker's take?

Most "referral" agencies don't provide/offer MLS access, just a way to legally collect referral fees.

It has never been an issue for me.On the other hand, for consideration, does this present a red flag for government agencies who may be concerned you may be dealing in or offering securities.Just a thought.I agree with getting legal advice.

there are many 3/1s listed for sale now by agencys for 62k, 55k, 59k, 71k...wouldnt listed properties be of some value to appraisers?

But consider that if you are audited for any reason, by any regulatory agency like the IRS, GAAP will be the basis for that purpose, it will also apply in court as applicable to any financial presentation for any bankruptcy, civil or criminal case.

He was a recommendation from the real estate agency that I worked with.

It is more in depth in most all areas but especially in legal aspects, compliance and agency administration.

This agreement will be forward to the loan servicing company. 4.I get paid by having a buyer agency agreement with the buyer.Does anyone of you guys/ gals see any problem with this?

Lindsay,Congrats on your progress.I applaud your mission.Consider checking some of the local social agencies, there may be some housing stipend monies available.

If the circumstances warrant it, I'd use a bridge for the first 12-18 months followed by CMBS or agency financing for the permanent component.I think your model is great as long as you have the investors for it, sellers that go along with the entity acquisition model, and the lenders to do the 223F.