Do you receive a commission check at the close of escrow?

Let's say we we bought the proporty for $600K, sell the property for $1M , say a morgage of $400K was pending at the time of selling, say $80K is closing cost, say we spend $50K for rennovation before selling.  1.

Seems like there were a lot of DSCR loan choices, and how did it go if you went that route?

Account Closed“Long, boring post perhaps,”NOT at all, your post is quite fascinating, and VERY IMPORTANT.

It forces users to manually split mortgage payments into various components every month, has a painful process to start new mortgages and close out existing ones, and generally has a miserable process for handling everything around loans and amortization. 

We averaged $1700/month in revenue over the first 6 months, 85% occupancy, and clean the unit ourselves.In October, we closed on a SFH in MI.

He qualified the people, sold, originated, structured the deals, and I'd collect the paperwork needed to close them out, progressively solving bigger and bigger hiccups without the LO's help or input. 

Property: HereComp: Here (Sold on 8/1/2022 same street)84 Grangerford Hts, West Henrietta, NY 14586Listed : 100kHML at 80% of ARV (240k) = 192kInterest only payments (10% interest)(192k x .10) /12 = $1,600/monthPoints = 2 (192k x .02) = $3,840Loan origination fee's = $1,000Additional monthly holding costs:- Taxes (5k/12) = $416- Insurance = $60- RGE = $120Total monthly = $596Duration of rehab = 6 monthsInterest only ($1,600 x 6) = $9,600Points = $3,840Origination = $1,000Holding costs ($596 x 6) = $3,576Total Holding costs = $18,016Loan amount of 192k:Subtract:- Purchase price = 100k- Closing costs (4%) = $4,000- Rehab = $50,000Totaling = $154,000Remaining balance on loan= $38,000Sale at $240,000:(-) (Realtor fee's (6%), closing costs (4%)) = $24,000(+) $38,000 Remaining from HML(-) Holding costs ($192,000 + $18,016) = $210,016Profit ($240,000 + $24,000 + $38,000 - $210,016) = $43,984 - (capital gains at 22% completely estimated) = $34,308Buy and hold:Appraised at $240,000.

Connect with real estate investors in your area and join networking gatherings to gain insights into investing tactics, funding choices, and current market patterns.Good luck!

Good morning Michael, my short term goal is to build a team consisting of lender, realtor, escrow/closing officer, contractor, wholesaler and mentor.