Using the Bigger Pockets rental estimate calculator

[Wendy Busa]

I am new to investing. I understand that usually the seller pays the 6% ish commission, but in this market I hear that is a negitioable point. When I use the investment calculator to determine cash flow, what approximate percentage should I be using for the closing costs? It may vary in different areas of the county, I am in Wisconsin.

Thanks,

Wendy

[Josh Myrick]

Seller does pay the 6% commission if that is the split. In this example 3% to listing agent and 3% to buyers agent. The purchase cost I believe is talking about closing costs. I am a new agent and have only done two deals but my BIC says they usual estimate is 3-5% of loan amount for the closing costs. The deals I have done have been 4.6-5%. Unless you become an agent and you can put your entire commission toward closing costs.