Agent/investor deal logistics?
Howdy BiggerPockets folks!
I'm an agent and investor. I'm considering buying a piece of commercial property (50/50 with a partner). It's a small piece in my hometown. The goal is to buy it at a discount, repair it, and rent it out. Once I get the Cap Rate up, we may sell it to get the cap gains out of it for a bigger project.
My question(s) are around being an owner/agent in this deal. As an agent, what happens with the commission? Do I get that back in the form of a credit toward the down payment? Do I negotiate it out of the sales price and not take the commission? I will have to pay my broker their cut, regardless, so I'm curious/confused on the actual logistics/paperwork of how that will go down.
Thanks in advance!