All Forum Posts by: Marcin Chojnacki

Property has solid bones but is in need or a full interior rehab and new windows. We estimate that the property needs about $40,000 in renovation costs , Rehabbed properties in the same area are selling for upwards of $200,000. Feel free to reach out to me if you have any questions. 

Good spread. Call/text/message with questions or for more details. 

@Steve Cady Thanks for the kind words. Much appreciated. 

@Jordan Moorhead :)

@JD Martin Touche

@Alana Bower Agreeable grey.

@Chris Purcell

@Shiloh Lundahl Thanks much appreciated! 

@Steve Vaughan You are completely wrong in all of your calculations. First off uncle same would take the cut of the after commission profit. NOT the pre-commission profit. 2nd; People's tax brackets vary and so do their corp tax brackets. You have absolutely no idea what the tax rate is on this client's profit. Neither do I. 

Next, I don't think you've ever sold a home before with an agent. You're assuming a 6% commission payout to me!? That's not how commissions work. 

Very rarely are agents charging full 6%. You see 5% more often.  

Here is a scenario of how the commission would look to brokers in this transaction:

$245k Sales Price @ 5% = $12,250

2.5% would go to a buyer's agent and 2.5% to the listing agent. Listing agent would receive: $6,125.

List agent office takes a portion of their commissions: 70/30 split is often seen. In that case the list agent would receive $4,287.50. 

For our investors we charge 3.5% TOTAL on the sale. 2.5% gets paid out to the buyer's agent and 1% goes to our office. 

This property was actually bought by brokers/investors from our office. Therefore they didn't charge themselves any commission and simply paid out the 2.5% to the buyer's agent (something that we happily do!). 

Don't be so quick to judge on how much someone might be making. Study up. 

@Alok Sood 2/10/17 purchase. 4/20/17 List. 4/21/17 Under Contract. 

@Steve Vaughan If you meant gave up half of commission profits; we don't do dual agency anyways. Wouldn't of made a difference. 

@Steve Vaughan It's only scary if you don't know what you are doing. Not sure how half of the profit (according to your post) was given up in one day... 

We pre-market the properties to try and sell them before they hit the MLS. Trying to save a few bucks by not offering a buyer's agent a commission is a HUGE mistake. Especially if you have lender costs associated with the flip.