Once you pass your RE test you can find brokerages to hang your license for relatively cheap, around $30 per month and keep all of your commission or even cheaper where you split some of your commission like you were alluding to in your post.Kelsy, good call on the REAPS.

First we need a few landlords in Austin, Cedar Park, Leander or Round Rock.

Its just a promise to pay, and if they loose their job, or a leg, or a spouse, or any other reason, it could force them to stop paying, and if they can't start repaying, ultimately you would need to get a Deed-In-Lieu, or foreclose.Also, not to split hairs, when you buy the note, you are not the lender, you are just the note owner who receives all future payments; you never lent any money.

I think I have my answer... only wait time is time for any deposits / transfers to complete and be registered in the account before it is usable.BP Rocks!

Thought it might not have been rock solid, it might have been just that little bit more of an edge that would have kept him from taking their deal until ours fell through.Won't make that mistake again!

I am a first time real estate investor and CPA in Louisville, KY and recently purchased a duplex (two unit each 1 bedroom one bath split level property) in the Highlands area which is a relatively high market value area in a prime location.

This is what you and the buyer will be splitting.

We are looking to clear about $14mil in profit for us and our investors to split.

There are two business partners (John and Sean) who jointly purchase a rental property.Sean found the rental property and identified it as a good investment.John invests 100k to purchase the property completely (no mortgage).Sean invests 20k to rehab the property and handles all the hands on work of managing contractors, and renting out the property.How would you split the net rental income and ownership of the property?

Hey Lori, sounds like you guys are rocking it out!