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Updated over 8 years ago,
What percentage to pay project manager?
I am interested in a rehab in the San Antonio, TX market. The project manager is ALSO my RE agent. The home is a small, old (1940) 1,000 sf sfh. This home needs approximately $25,000 in rehab. I expect to sell for around 120K. From what I have read by previous posters on this topic on bigger projects I think a 15% take on profit to be a fair payment for project management. Is this correct?
This RE agent also wants to be my seller and expects the typical 6% commission. IF it is true that 15% of profits is a FAIR payment for a PM, then is it also fair for this RE agent to receive a 6% commission?