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Oh Snap I have a Great Legal Question

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I have an amazing Question!

Let's say I have a few Friends that want to make money with Real Estate

But don't want to do the work (because they dont have time) Could I Do the work for them and they pay me a Management fee?

Meaning I do all the work for the deals but they just pay me up front. Like a Membership fee.

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What advantage is there to accepting a fee from someone to have to split your profits later?

What wildwest said, Erik. What's the advantage for you?

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I get paid 5k up front for doing deals..

If you can find someone foolish enough to pay you $5K upfront for doing I don't know what exactly, thank your lucky stars and jump on the offer.

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I have an amazing Question!

Let's say I have a few Friends that want to make money with Real Estate

But don't want to do the work (because they dont have time) Could I Do the work for them and they pay me a Management fee?

Meaning I do all the work for the deals but they just pay me up front. Like a Membership fee.

Not in my state. If they pay you to find a deal that you are NOT a principal in it's conisdered brokering. So you'd need a license.

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I have an amazing Question!

Let's say I have a few Friends that want to make money with Real Estate

But don't want to do the work (because they dont have time) Could I Do the work for them and they pay me a Management fee?

Meaning I do all the work for the deals but they just pay me up front. Like a Membership fee.

Not in my state. If they pay you to find a deal that you are NOT a principal in it's conisdered brokering. So you'd need a license.

 

What Bill said. I was remiss for not mentioning this.

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Well.... That's why I asked the question. My friend would love to work on these deals but has very little time.

Maybe we can do a JV agreement so we both have the right to work on the deal. He can pay the 5k as a coaching fee.

I will speak to my lawyer about this.. But I must be doing something right when people are ready to pay me to do deals :D

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