Maybe agree to the fee or negotiate down, but let him know you need a proper management agreement in writing signed by both of you, including amount for repairs without getting your permission first, and you'll need monthly statements each month like a property manager would so you have some idea of what is going on monthly.

I am wondering how I am still receiving keyword alerts, and how to turn them off if I cannot find the source.

As of now, I'm looking to purchase property for renters in hopes to create a source of passive income.

Geronimo Moreno welcome, I'm sure between the two sources you will get many opinions and methods of doing things.

The reason I am keeping a rental despite my preference for flipping is due to the fact that by having some passive income flowing in, it's easier for me to keep a rational head when identifying deals since i am depending on flipping and doing deals as a full time job and sole source of income.Without some source of income, I get antsy when I haven't flipped or done or deal after a long period, increasing my chances of making a mistake.

If they demand to be exclusive to do a contract make them put up huge non-refundable option money that you get TODAY but will be applied off the purchase price at closing.Really you need a real estate attorney to draft the proper forms.

Monty Corbett -First, make sure you have all the proper legal documents.

Hi Justin, I've never heard of that site, but I am sure that if you read the source information, ask questions, and listen to the Podcast you will be well on your way to getting your wholesaling business off the ground.

Homesnap is powered by a specialized homes database that combines hundreds of disparate sources of data.

.- Get financial statements that would illustrate proper net worth and/or income.- Create a checklist of questions that would help qualify the investor and have them sign the form.- Have the investor's CPA or lawyer write a letter attesting to the fact that they are accredited.Obviously the tax returns are the best route to go.