Hello all,
I am doing a short sale for my brother because I have a little bit more knowledge on the situation than he does. I am not a realtor but I am wondering how could I be able to receive some sort of profit on this situation and not be a realtor. Thanks
Just become a partner with your brother in the deal.
Then have him buy you out when the deal is completed.
John (LV)
Thanks for the reply. I understand what your saying, but in elementary terms(im a little slow) could you explain to me how I could do that. Would I sign a trust with my brother? Do I start a business with my brother? Please explain. Thanks
Here are a few links about partnerships.
http://www.thecreativeinvestor.com/residential/modules.php?name=Forum&file=search&term=partnerships&addterms=all&forum=all&search_username=&sortby=p.post_time+desc&searchboth=title&submit=Search
Real basic is for you and your brother to sit down and make a written agreement about being partners on the house deal.
When what you agreed to has been completed (the deal) he pays you for your portion of the agreement and you dissolve the partnership.
Hope this helps
John (LV)
Basically don't call it a commission,
Can it consulting fee.
Call it a marketing fee, consulting fee or write an option and the fee can be to release the option that you have.