In the mortgage industry, broker usually refers to a company or individual that does not lend the money for the loans themselves, but broker loans to larger lenders or investors.

My question is, (1) is this possible, (2) what are things to look out for in order to avoid legal battles,(3) is the such a thing as a non-profit LLC?

You might look at an 8-10% preferred return to the equity before sponsor gets anything, and then a 60/40 split of profits. 

The profits would be split as a partnership.

Surrounding homes are around $200k + with similar plot size and sq. footage.I put in 40k desired profit to cover $15,000 paid to lender plus in the closing costs a point fee of 3% (Agent fees portion)These numbers look average correct?

A growing portion of our business is helping OOS investors pick up turnkey rentals here in Cleveland  and I always tell them the best first investment they can make is a plane ticket.I would be really carefully buying rentals from companies that will go on to manage the property, because they can then profit from upcoming maintenance that they left undisclosed.

If it was a larger scale job I would have gone for something that had a time component to it.

Goal:  Build a larger portfolio of better-than-average properties for their respective areas over the next 5-10 years, reinvesting as much if not all funding into the portfolio to grow to a point that it can replace our income.  

Flipping a house counts a short term capital gains so if you make $20k profit on that flip you really are only bringing home $10-12k.

Hey guys I had a quick question : If you don’t feel comfortable answering by all means you don’t have to.

QUESTION: On average how much do you think you make per year on wholesaling?

Starting out how much did you m...