Career in Real Estate: How much money can you make on a foreclosure deal?
Posted on February 6th, 2010 in Other - Business & Finance | 2 Comments »
Tanya P asked:
Hi, I am wondering how a finance real estate professional makes an income from handling Foreclosures, in any aspect. Is it similar to “points” and a mortgage broker’s way of income?
Any Foreclosure specialists in the house?
2 Responses
Sacramento Condos, Sacramento Homes
0% to 6% .. depends on where the foreclosure stages is at ..
or which banks.
many times it is a set amount of $$$
Colorado Real Estate
You have to have a “connection” with the repo companies who pay around 5-6% of the purchase price to the listing company/agent. Sometimes you can connect with them online. Chase Home Finance, Homesteps, Wells Fargo are a few of the more common ones. Check with the local banks too. They often have repo properties that they’ll pay a commission for the sale of. You have to be a licensed agent or broker though.