Updated about 8 years ago on . Most recent reply
Property Management opportunity
So I've recently turned a Multi-family Property deal down. It was a Boarding house or Bed and breakfast 8 rooms. Long story I was able to get the property under contract to buy,but I turned it down. Reason the place needed some work and i wouldn't have the resources to do it. So the owners were intrigued by my honesty,and decided to make me property manager untill I got the rooms full,and started to make a cash flow. No money out of my pocket and they pay me for my service's. After a month or 2 they will be willing to make me an offer under contract again. Im just worried once I get the place up and going they will back out in there word. Is this unheard of? Im thinking of drawing up a contract stating our agreement. Thank you for your time. I dnt mind advice just dnt ve rude about it.