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Re: Any other agents here?
Posted by Tim (more from Tim) on Wed, 30 Mar 2011 12:06:13
In Reply to: Re: Any other agents here?, dmz789qqq, Wed, 30 Mar 2011 11:44:34
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You'd be very surprised at just how many "$600k" houses are rentals nowadays. The house across street from us was on the market for $1.3million a few years ago, and has since been slashed down to $1mil. It's been occupied by renters paying around $4-5k/mo for the last half decade. Would I pay $1mil for that house? Not a chance. The owner is a realtor, therefore probably would charge nothing in commission fee. Would I even pay $600k for that house? the answer is debatable; I'd have to see the cash flow statements and the rate that I can lock in at; probably still a no due to future tax and insurance expense concerns. If and when that house gets foreclosed into REO status, among thousands of other houses in the REO portfolio that the bank has to maintain and pay tax on, and some other broker brings it to market for $400k, and want to be the only broker on the deal, I would not try to bring in anyone else to scrape $1.2k off his hide, but prefer closing the deal as quickly as possible.
Every house has a "rental income potential" The sale price has to be calculated from that because a house is a capital asset. Anything purported price more than that which is based on income potential is simply following the "bigger fool theory." Don't be penny-wise and pound-foolish.
posted by 76.118.39...
Posts in this Thread:
- Buying a house; how to collect the co-broker comission?, dmz789qqq, Sun, 27 Mar 2011 21:20:55
- Any other agents here?, ChrisP, Wed, 30 Mar 2011 05:16:04
- Found a solution..., dmz789qqq, Tue, 29 Mar 2011 12:50:46
- Re: Buying a house; how to collect the co-broker comission?, andym, Tue, 29 Mar 2011 08:25:36
- Let's make some things clear..., dmz789qqq, Mon, 28 Mar 2011 20:18:33
- Re: Buying a house; broker comission?, BobS, Mon, 28 Mar 2011 19:11:26
- Re: Buying a house; how to collect the co-broker comission?, BlueWhite, Mon, 28 Mar 2011 15:50:55
- Seller typically pays both sides, AdamD, Mon, 28 Mar 2011 07:10:23
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