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Updated about 4 years ago,
Buying and Selling my own houses.
Hello,
I am at the end of my real estate course, targetting to do the exam in the first week of November.
My plan is to become a real estate agent while I keep my full-time job so I can buy my primary home and get the commissions. Furthermore, I currently own a rental property that in the case things start becoming bad in the near future and I have to sell it, I would have more buffer to play on pricing as I would not need to pay commissions to a selling broker.
Also, looking to purchase another investment property within the next 12 months. This is the quick math I put together:
- Buying my own home = 400k = 10k in buying commissions.
- Selling my rental property = 300k = 9k in commissions for the selling broker (I account I would need to pay 7k in commissions to the buyer's agent)
- Buying another investment property = 8k in commissions.
Assuming I would split my earned commissions with my future managing broker, in the 70/30 ratio, it means I would earn 19.000$ in commissions just with my own deals.
I would appreciate any advice or suggestions on this strategy, it seems too good to be true and most likely I'm missing something.
Will I be able to get into a broker company just to buy my own houses, or I am going to be asked to bring more deals?
Thank you
Marc