I updated my profile and am including the blurb about myself below.My name is Ken, and I was formerly involved in residential real estate sales, part REALTOR and part assistant to another REALTOR.

If it involves heavy lifting, they're against it.

The purpose of an LLC is to protect you and all your personal assets outside of the LLC in the event of an unfavorable monetary judgement against the LLC.I agree with the other posters that setting up an LLC can be simple and inexpensive.But would I be willing to "bet the farm" on my ability to do everything required exactly right to remain out of reach of litigious hyenas?

Furthermore, properties that are listed on the market give the banks all the more reason to sit and wait for higher offers...giving the investor no leverage at all on the approaching sale date.Plus, REA's have to conform to office politics when getting involved with these SS negotiations.

Can you tell me about the benefits or risks involved.

This is a great resource for those looking or already involved in REI.

If you've got a signed contract that you must pay him comission on anything you buy, then you have to get him to sign a release that he agrees that the contract is cancelled.In future, never sign any agency form that binds you to a buyer's agent for a set length of time, and makes you liable to pay him commission on anything you buy, whether he is involved or not.When you sign a buyer's agent contract is should do no more than state that the agent will represent you and that you will pay him the commission on any house that he finds for you.You can even sign the conrtract one house at a time.If an agent wants to insist upon a more binding contract, just tell him no.

I would suggest getting an agent involved.

I always want to deal directly with homeowners and never involve a Realtor.

Are you involved in real estate at all?