So basically they are taking care of keeping track of all the funds. there is a closing.

Basically my plan is to show him some of my rehabs in progress, explain how the business works, how I would use his money, how it is protected, etc.

Looking for some input here (on what is likely a pretty basic question for all of you.)

If this experienced investor is willing to match your investment and split profits evenly, then that is a massive vote of confidence in the ethics of this individual.

;-)Marvin, there are several "rules of thumb" in this business to help you quickly evaluate a deal to make sure it passes some basic tests.

To me it was just a matter of whether it's needed to take both exams of if you could basically skip the agent exam if you know that you want to be a broker eventually.

So basically, the tenant should always afford their portion of the rent.

Basically he was letting any heat I had in the house out the window.Luckily it was only for one day, but sheesh!

They make you think they have some MAGIC secret or formula that you'll learn and then its off to the races when the truth of the matter is that probably 98% of the attendees will never do a thing with that info and were basically just ripped off!

Randy,I will be interested to see what other responses you get.I guess the basics would be as a 'con' is that you would then need to worry about 'cash flow' compared to having it free and clear.The 'pro' would be that you could leverage those funds more progressively.