Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityA popular online real estate community since 1998!


Advertisements


Sponsored Links
Advertisements
How To Advertise Here
How To Advertise Here

Sponsored Links
(Views)Popular Topics
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 28271455
No new orders today 13101874
Stupid MLS comments. 3276740
What do you know about Froy Candelario, top agent in USA 1189494
Stupid QC comments and BPO requirements. 1061201
New HUD Listing Brokers---Any Update? 1028226
Is there religious content in Buffini class? 822760
Let's talk about our cars 671014
Name that Flick. Great movie Lines. 602724
Pay it Forward - BPO/REO Tips & Tricks I & II 592430
Most common items found at an REO 576041
EML 459232
REOTRANS 440750
Main Street 419463
asset val seminar in colorado 407197
assist 2 sell or 1 percent realty? 340449
HOMONYMS - There, Their, and They're 306793
Evalonline 300191
Land America 285052
Mainstreet 261859
Matched Content
Topic Options
Rate This Topic
#458710 - 08/11/17 08:33 PM Commission flipping
Aftermath Offline
Member

Registered: 01/08/07
Posts: 104
Loc: Ca
If you flip a house as a broker you would get the commission for buying the property and then a commission when you sell the property.

If you sell with the intent of breaking even, you would leave the deal with just 2 commission checks. If your a Broker then thats easily $20,000 a house.

Am i missing something?

Top
Advertisements
#458711 - 08/11/17 11:55 PM Re: Commission flipping [Re: Aftermath]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7719
Loc: Vermont's North-East Kingdom
Is there some un-written rule that you'll always break even ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

Top
#458730 - 08/12/17 01:02 AM Re: Commission flipping [Re: Aftermath]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2238
Loc: Outer Banks
Your money bought the flip and paid for the flip so you are not really making money when you pay yourself with your own money. Unless you are trying to clean up the money.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

Top
#458746 - 08/12/17 10:23 AM Re: Commission flipping [Re: Aftermath]
Aftermath Offline
Member

Registered: 01/08/07
Posts: 104
Loc: Ca
What im saying is

If i purchase a $200k home and as a broker i get a commision
Then i turn around and sell it for $220k and recieve another commission.

The 20k profit goes to closing, taxes, and commision. So the house is a wash

But as a broker you recieve 2 commision checks(one when you buy and one when you sell) So your just flipping for commission



Edited by Aftermath (08/12/17 10:56 AM)

Top
#458747 - 08/12/17 01:15 PM Re: Commission flipping [Re: Aftermath]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7719
Loc: Vermont's North-East Kingdom
If you were a FSBO, you'd miss out on the Commission that you're paying yourself !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

Top
#458752 - 08/14/17 12:36 AM Re: Commission flipping [Re: Aftermath]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2238
Loc: Outer Banks
When you buy the house with your money the commision check will be your money. When you collect that check you now owe taxes on that money even though you previosly paid taxes on it. The best way to handle this is to not take a commission but get a reduced price or closing costs to avoid paying tax.

your market might be different than mine but here buyers won't pay the additional price without some remodeling.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

Top
#458935 - 08/30/17 02:40 PM Re: Commission flipping [Re: Bigtoe]
Long Walk Offline
Member

Registered: 06/27/08
Posts: 121
Loc: New Hampshire
[quote=Bigtoe]
your market might be different than mine but here buyers won't pay the additional price without some remodeling. [/quote]

Bigtoe -- it depends on how you are buying. If your deals are coming out of the MLS, then I would agree with you. But, if you are buying at the foreclosure auction, then there it is likely you are buying at a deep enough discount that you can make money on assigning the contract or selling with no rehab after the closing.

Top






Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Newest Members
Non GMO CRE, Reguru1, Shaun225, Dr.Brim, james luis
29796 Registered Users
Who's Online
0 registered (), 41 Guests and 4 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Long Walk 73
Vermont 40
estatereal 15
Trouble 15
Flare616 13
RonnieEmz 12
Snapple 12
Logan Five 11
Analog Man 9
waka 9
Lucky Leonardo 9
TheTexasGal 8
Flammable 8
gitmonee 7
Bigtoe 6
Featured Member
Registered: 11/19/17
Posts: 1
Facebook

How To Advertise Here


This site presented by RNC Internet Services