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Just closed my first sale
- Thread starter jack
- Start date
DarthSikle
GFHH Moderator
Does your ass still hurt?
SSgt_Sniper
Factional Warfare
26,250
DarthSikle
GFHH Moderator
I'm excited for his wife.
va va voom
va va voom
Big Dick McGee
If you don't know, now ya know
You're excited about a measly $25k? HAHAHAHA!! LOSER!!
SSgt_Sniper
Factional Warfare
BDM, 25k for one transaction isn't too bad. Roughly speaking, it means he's only got to sell five or six houses to have a comfortable living in a year. Now the trick is, how long will it take him to make another transaction, that'll tell the story.
Big Dick McGee
If you don't know, now ya know
^^Yeah, but he has to split the commission with his "house", probably 60/40, so he'll really pocket around $15,000...before taxes, of course. So he'll have to sell a LOT of very expensive houses to make a comfortable living. I don't really know the RE market in Vermont, but Cali is the most overpriced state, and you can routinely get single homes in the range of half a million. Some of the condos I've been looking at are around $400,000.
Of course, commissions are higher on lower priced homes, but even if you're a fully-licensed broker, you'll be making 6%, tops (unless you're both the buyer and the seller's broker, of course). That means on a $400,000 home you'll work 7 days a week to get it sold, and pocket around $24k. However, it seems our resident garden gnome is a salesman, which means the .75% is about right. That means a sale like the one I described will gross a whopping $3,000...which he'll have to split 60/40 with his "house".
And don't even get me started on the whole "independent contractor" aspect vis-a-vis income taxes.
The bottom line is, you gotta sell a helluva lot more than 6-7 houses a year if you want to make any money.
Of course, commissions are higher on lower priced homes, but even if you're a fully-licensed broker, you'll be making 6%, tops (unless you're both the buyer and the seller's broker, of course). That means on a $400,000 home you'll work 7 days a week to get it sold, and pocket around $24k. However, it seems our resident garden gnome is a salesman, which means the .75% is about right. That means a sale like the one I described will gross a whopping $3,000...which he'll have to split 60/40 with his "house".
And don't even get me started on the whole "independent contractor" aspect vis-a-vis income taxes.
The bottom line is, you gotta sell a helluva lot more than 6-7 houses a year if you want to make any money.
Laker_Girl
Mrs. Big Dick McGee
jack's a compulsive liar, he didn't do shit but get promoted from dishwasher to busboy at Denny's.
SSgt_Sniper
Factional Warfare
Big Dick McGee said:
Not trying to deflect, but a point I noticed: Last night he asked up in Questions what 1.5% of 3.5 million, which I glibbly commented 'who cares' to. So I'd say the .75 probably IS his share.
That said, you're still right on the lower end of the scale, but as I said, how long it takes him to make his next sale will tell how well he'll probably do.
Big Dick McGee
If you don't know, now ya know
Laker_Girl said:
LOL! I now have coffee all over my shirt! D'oh!
Grammour Boy
Rebel
who caresjack said:
Gurk_MacGuintey
Valhallan Ambassador
That's a lot of money for just one blow job, Jack!
Trollwars Ghost
New member
Congrats!
I can't wait for the informercials that you'll start doing, with your "Troll Money Down" techniques for buying real estate.
I can't wait for the informercials that you'll start doing, with your "Troll Money Down" techniques for buying real estate.