I also new brokers that would not use them since this was there practice doing a refinance.I guess when you are too greedy even the best will fall.

They assign the contract to an end buyer, and collect a fee for setting it up.

I am enthralled with becoming a Real Estate Investor and would really like to find a REI mentor or someone who I can "shadow", as a way to gain practical knowledge to partner with the info I've gotten from this forum and books.

Because it turned out that when I let my "mentor" handle my forms to send in to the company, he took all the information I got from the leads, and re-wrote them onto his own forms, and collected the money for himself...When I went back and tried to re-track how much money I should've made, it was about $45,000.

However if I did not collect my fee up front, I would not need to have funds.

If I may, let me suggest that before you take it to a house you are REALLY inspecting, use it on your own place, and houses of friends and relatives, just to get some practice and familiarity.

There are laws on the books to protect people's rights from just the kind of predatory practices that you committed.Regardless of the (to you) sneaky and abusive nature of this tenant you must follow the law.

Are you collecting late fees and all the associated charges for their late payments?

Could have saved me some time, money and energy.SOOO..just a note to the landlords of the world that don't sue for damages because we all know you'll never collect -It would still be nice to let the rest of us know...much appreciated.

Most will "withdraw" the listing which doesn’t eliminate a commission earned if the seller sells you the property.That doesn’t mean that you cannot buy the house, it just means that the Broker has a right to collect a commission assuming they used an Exclusive Authorization and Right to Sell from the seller.There are basically 3 types of listing agreements two of which give the seller the ability to sell themselves without obligation to pay a commission...