mikkey

I am a new comer on the block in the real estate investing side.Can anyone help me understand using real estate agents when you are doing your deals, either buying or selling.If you buy and make a commission, say $3000-$5000, how much do you pay the agent? Do you use the agent every time? If the dollar amt is different, is there a rate to compensate the agents? Like $500, $750 $900 per transaction or whatever the case maybe. I appreciate any help.

Mike Patel

I have read and reread the section on lease options with Greg Murphy from "Your town, your real estate profits". So you don't take ownership of the house or apartment. What happens if the tenant decides he is not going to stay for the length of time agreed? 24 months or 36 months? Do you have to buy the place? Does the originaal owner who is selling to you takes over the home or apartment or what ever it is you are doing a lease option on?

Can anyone enlighten me on this please?.Preferably someone who has done this.Even if you are versed in this topic and can help will be welcome to hear from you also. I am advertising locally and starting to get some phone calls and want to understand this upfront if this situation happens, then what is my role as person who did the lease option? I am feeling confident each time I read that section and which team players will I need as well? RE Attorney, title agent, mortgage broker?
Thanks in advance for your help.