Here it is:Article 25 defines a real estate broker as an individual or an entity, who with intent to collect or receive a fee, compensation, or valuable consideration, sells or offers for sale, buys or offers to buy, provides or offers to provide market analyses, lists or offers or attempts to list, or negotiates the purchase or sale or exchange or mortgage of real estate, or negotiates for the construction of a building on real estate; who leases or offers or rents or offers for rent real estate or the improvements on the real estate for others, as a whole or partial vocation; who engages in property management as a whole or partial vocation; who sells or offers for sale, buys or offers to buy, leases or offers to lease, or negotiates the purchase or sale or exchange of a business, business opportunity, or the goodwill of an existing business for others; or who, as owner or otherwise, engages in the sale of real estate as a principal vocation.

The mortgage document defines what the lender's remedies are if the loan goes into default.

It's good to have defined goals, and with a timeline in place.

Hi Brittany,DEFINE the why you are getting into real estate.

Maybe your property value is more accurately defined as somewhere between $60k and $100k.

Yall have definately given me things to think about.

Unfortunately the defining characteristic of how good your home is, the quality, cannot be adequately prescribed for you within a presale document.  

Simple way:-Debt signed for counts 70% of equity dollars-All who sign for the debt get 70% accounting-Equity counts 100%-Pay a development fee in the deal for the person managing the work-Pay market fees for other work like selling, etc.More complicated way:-Structure preferred return for equity-Do split thereafter up to some defined IRR. 

Hi @Jamie Turbyne, in order to improve your changes of being successful at investing in a syndicate you need to be able to evaluate the following:1) The Sponsor - this is the team of people that source, the deal, get it under contract, define and execute the business plan and who manage the property managers.

So, writing is better than phone calls, as people often forget conversations; but for those times when phone calls are more practical, then follow up with a confirmation e-mail describing the conversation and defining any agreement you may have arranged during the conversation.