She explains in the lease the date that rent is due, usually on the first of each month, and then she specifies that after a certain number of days, there will be a late charge added on top of that rent.

Adding an additional fee in there (your assignment fee) would necessitate a bigger spread on the deal, which would compromise your buyer's position and offer.

And when I place an ad to sell one of my flips, I always include the words "owner/agent".

The master plan, which I'd love to get your opinion on, is to purchase the property, and immediately renovate the unfinished basement on both sides by adding a bedroom (to code w/ egress of course) and bathroom down there, as well as a finished family room, virtually doubling the square footage...it would actually be around 3100 finished square feet (1550 per side) total when complete.

I started a meeting with a small group in August, last month we had 19 people and as of the new we've set goals and added some structures.

At some level are you just trading one income vehicle for another with the added bonus that you get the asset back (albeit there is a risk if the property gets trashed due to bad management) if the lender flakes out (and of course the hassle of calling the note).Hopefully some of the experienced private money lenders will jump in on this one, as it is a fantastic question.

flipping can be a well paying job, but its a job, if you stop flipping, your revenue stops.I am a buy and hold investor, but am considering adding doing some flips,,,it seems some combination of the two would actually be the perfect plan.

I now have a great foundation of knowledge and my courses in AZ covered the basics of financing, property management, the different career fields in real estate and in addition I had that added bonus of having an investor as an instructor which was priceless!

However, we had added some rehab costs completed by the initial buyer (a contractor we use) so it was in fact different by several thousand $$$.

Another Texan added to the site.