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Updated almost 9 years ago,

Account Closed
  • Real Estate Investor
  • Rancho Santa Fe , CA
107
Votes |
323
Posts

Possible to just buy with your commission and has anybody do it

Account Closed
  • Real Estate Investor
  • Rancho Santa Fe , CA
Posted

Hi just a discussing me and my co-worker are having about a magical world, can yo do this ? 

buy a house with the commission you make out of it ? 

i know you don't get paid till the end of escrow but lets assume you find  somebody who wants to sell 

100,000 house you make 5% / 5,000 check that you put towards the down payment of the house. and thats it 0 money used just your licensed and a idea. 

my friend says no because you need to put the money into escrow for down payment i know that i said,   my solution was go get a loan at anyplace for 5,000 put it down then when your check comes in 45 days pay back the loan and maybe you lots 500 bucks on interest but is it possible ? 

if yes have you done it ?