I have a colleague in your area that runs a management firm.

I also want to do enough work in the field (1000 hrs per yr) over the next two years to become a Broker and start my own small firm and save on "commision splits", and to make a little profit from the brokerage.My questions is what are the potential pitfalls of being an agent.

Do your own research on the property, come to a price you're comfortable w/ and make a firm offer.

Never make a "threat" you can't back up, if you say you'll go to your attorney, you better go.Not that you have to be mean, just firm with these REO listing agents, at times.

All this being said I have never spent a nickel on "guru" classes.. but I am actually real close to making a deal with 2 of them.. one who can help simplify my processes and one who can help set up a private equity firm..

Firm price, even if they find (or do) damage that needs repaired.Based on what I know today, I would plan to list my house at about $115000, without new windows.

Not judicial.The publication of the trustee sale should include the name of the trustee, usually a law firm.

In this situation any firm or business listed above and other agents affiliated with the firm or business do not represent you and may represent another party in your real estate transaction".

We also have a trust account in California for our private equity firm.

In any case the biggest problem that I see is that this is your first deal and you are already leveraging a lot with no firm cash flow in place.