Tanya Robson
Have you been asked to sign a NDA before?
14 September 2019 | 2 replies
I have bought almost exclusively through private sales locally and am not sure if I can hire someone fee based as opposed to commission based.
Chris Shepard
Negotiating a repair addendum
14 September 2019 | 0 replies
The response I got was (note I am the broker and the buyer on this property), you are getting a 40k commission on this property, the seller rejects your repair addendum.In all of my experience, having bought and sold about 20 fourplexes and 50 single family homes, I haven’t had seller straight reject a repair addendum and especially not one in this condition.One item of note is that the seller is either from China or is a Chinese-American.
Ken Latchers
Vacation rental - the second best way to use a property?
15 September 2019 | 10 replies
And how great that is. but a vacation rental dollar is not the same as a long-term tenant dollar. 3% credit card charge, software, insurance that can be two or three times more expensive and may be hard to get, the industry trend for listing sites to charge a commission to the owner such as booking.com at 15%, the fact that vacation rentals require self-employment tax, Linens and cleaners and maintenance people who have to keep it perfect, every possible kitchen appliance and coffee setups add toilet paper and soap and everything else, up to 30% to a property manager. so maybe if you're lucky a vacation rental dollar is 75% of a long-term tenant dollar.
Nandy B.
Should I buy this bank owned home for 3000?
27 September 2019 | 23 replies
And make a note that the listing agent is getting all of the small commission, there is not a separate realtor for you.The double closing does not make sense though as it appears that they are asking you to fund the first closing and something is going on with the title that the seller doe not have title.
Casey Marquette
Newbie - need advice on my strategy
19 September 2019 | 5 replies
Taxes, commissions, inspections, finance fees, loan origination, appraisals, transfer tax, escrow charges all add up to sink you.
David Adjmi
Benefits of being an RE agent when investing.
15 September 2019 | 3 replies
You can also choose to apply your commission to cover the purchase costs.
Nick Kravchuk
Should I sell or rent out my current primary large luxury home?
15 September 2019 | 5 replies
Here are the numbers from what I bought it for and if I were to sell and what it would get for rent:Sell Scenario:Purchased for $830K in June 2017Put $60k into it, to include:-2 New AC units-2 New Furnaces-Completely new kitchen/high end appliances/countertops-New carpet throughout upstairs-Light guest bathroom remodel(new tile floors/countertop/Painted cabinets)Estimated sales price: $950-$975KEstimated closing costs if sold for $965K: 2.5% commission to buyers agent/closing costs=$35kOutcome If sold for $965k minus closing costs/commissions(only have to pay buyers commission) I would be left with a $40K profit from what I purchased it for and what I put into the house.
Audra Luther
Should I sell my only rental home to get the capital to invest?
3 October 2019 | 13 replies
You would avoid capital gains tax and get your most money with out having to sell and pay commissions and tax on the sale.
Andrew Ashby
Metro Orlando 1st Flip & stress with partnership, hard money
6 November 2020 | 34 replies
Purchase Price: $56,000SFR: 3/2, 1232 SF, Wood frame on block foundation, Built 1986Distance to downtown Orlando: 45 minutesRehab: $42,000Realtor commission: 6%Labor partner profit split: 50%ARV/Sale Price: $129,900Hard Money terms: 10.5% interest, 4.5 points, 9 month amortization (with no payments)At the outset of this project, I had 4 rental units and I took this on as a starving Realtor with no clients and no business.
Dan R.
Hickam Pearl Harbor
7 September 2020 | 21 replies
Do your due diligence and ask them.As for commissions, the seller pays BOTH agents.