Yes, I've been reading the regulations and it does appear to be very strictly regulated in CA, as a matter of fact, their are certain bars against receiving ANY advanced fee by a mortgage "consultant" when doing these loan modifications.

I understand this is not a legal forum but would like to hear from experience investors.What is the best way to handle finders fees; i.e if you have an associate looking to move a property and you bring her a buyer, how do you receive a fee and protect yourself in the process?

Also however, in that 3 year period you will reduce morg. balance and receive depreciation to increase your return rate.

Give Excell MOrtage a call, they are out of Houston.

The way to make it legal is for the person to pay you for each lead (such as 10.00 per lead) and not make your payment based on the outcome of the situation.To clarify my previous post I agree with Primo_Coach that you should receive payment for the lead and not have payment contingent on a closing.

Most counties will tell you when the next sale is and even provide an excel or word document listing all the necessary property info.

I never once received written notice.

You do not have to try to get them under contract, you could refer them to another investor in your area and receive a referal fee.

Several problems have occured to get where we are today, needless to say we still have the house on the market.Yesterday I received a call from my agent telling me that there is a couple, he is in the airforce, they are wanting to rent our house for 6 months while he is out on tour and then when he gets back they will use a VA loan to buy the house for the full listing price.I am not a mortgage specialist, but from what I was told through our agent is that after he gets back from this tour, he will then reconnect with his regular full time job, and will acquire a VA loan which supposedly he is already pre-qualified for.I have not done any lease options, but I have wanted to start looking into them, but wasn't prepared to do so with this house.

I got my amortization program as part of my Excel, back in '94 or so.