- you make 50% of the net profit - that is net less advertising or expensive - so if the expenses are $1,000 you would make $9,500.00 and I would make the same.The expenses are usually the cost of advertising the property for sale.So............... it you are ready to begin creating leads - this is what I suggest you do ---Farm neighborhoods to look for FSBO's, send me as many expired listings as you can in the neighborhoods where we are going to invest, Go to housing court 2-3 times a week to listen to the cases and meet landlords after their case is called, run some ads in the local papers (I will design the ad for you), get me a list of all the local auctioneers in the community, put flyers on super market bulletin boards, ask 5 people a day if they know of anyone interested in selling their real estate.Look for commercial and business real estate for sale - get me all that information and we'll make a call to get information and make them an offer (you present the offer for us)Later in the "Mentor - Apprentice relationship we will advertise on radio.Any questions?

My bigger question for you now is should you even rent to this individual?

Personally, given the way I'm wired, what I've found useful thus far was listening to all the podcasts and from those I compiled a recurring number of book recommendations in order to build the foundation for the kind of business I want to create.

I've created a network of brokers, buyers and investors, but never had control of the asset, therefore it was very difficult to make money.

I love listening to the podcasts, so I have created my account to get more involved, so I wanted to introduce myself.

He lived in a house but rented out he individual bedrooms while he crashed on the couch.  

Well, I want to have an idea of how much the individual items are costing me.

Assuming that note was created perfectly without breaking any new laws, you have to think about discount rate at which you will sell.

I just want to create passive income as early as possible.  

I split the gas lines to their individual furnaces in order to bill the tenants directly for their gas usage and I know they pay around $50 for their gas.