David Saks: January 2015

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 3925


If you bought a house for the listing price less 20% and sold it for the listing price, what percent of profit would you make ?

Take your time. The answer is posted below the wildlife photo.


A. 25%

Here's an example for you.

Let's say we bought the home with a listing price of 500 thousand dollars for twenty percent less than the listing price.

That would amount to a selling price of 400 thousand dollars.

Let's subtract the original listing price of 500 k from the selling proce of 400 k and we see that the 20% less amounts to a savings of 100 thousand dollars over the original listing price.

Now we're going to flip the house for 500 thousand dollars and make one hundred thousand dollars on the deal.

Now let's divide 400,000 (the price we paid for the house) into the profit we made, which is 100 thousand dollars, and we see that we have a profit of 25%.

David Saks

Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • January 26 2015 01:21AM
Real Estate Practice : Lesson 3925
If you bought a house for the listing price less 20% and sold it for the listing price, what percent of profit would you make Take your time. The answer is posted below the wildlife photo. A. 25% Here's an example… more
Real Estate Practice : Lesson 3924
A piece of land 500 feet by 350 feet had a sidewalk laid around it by the owner. The sidewalk encompassed the entire lot and a curb was placed along the lot lines. The sidewalk cost $32, 000 and the curb was $20 per lineal yard. &… more
Real Estate Practice : Lesson 3923
A builder / developer has 5. 25 acres of land. He wants to divide the land into lots 60 feet wide by 100 feet deep. 36, 690 square feet of land is required for street construction With all of the above considered, how many… more
Real Estate Practice : Lesson 3922
Arnold got his tax bill today and it was $4903. 00. The tax rate is 42 mills per dollar. The property is assessed at 58. 25% of it's value. What is the actual value of Arnold's property Take your time. The solution is… more
Real Estate Practice : Lesson 3921
A landowner has 160 acres of land. He sold 42. 25 acres of the land to one man. He also sold one third of the remaining land to another buyer. How many acres were left A. 78. 5 Acres Let's first… more
Real Estate Practice : Lesson 3920
A seller has a tract of land which encompasses 108, 900 square feet of land. The selling price is $12, 500 an acre. How much is the seller asking for the tract of land Take your time. The solution is posted below the… more
Real Estate Practice : Lesson 3919
An investor bought a block of lots to build on with each lot containing a 75 foot frontage. The investor wants to sell the lots for $337, 500 and keep two lots for himself. What does the investor have to sell the lots per front… more
Real Estate Practice : Lesson 3918
A home sold for $750, 000 with a profit of 20% at closing. How much did the home cost originally Take your time. The solution is below the wildlife photo. A, $625, 000 In this problem you have to… more
Real Estate Practice : Lesson 3917
The mortgage company decided to lend the owner of a property an amount of money equal to 66. 6666% of the appraised value of the property along with an interest rate of 5% annual interest rate. The first years interest in $20, 000. … more
Real Estate Practice : Lesson 3916
How much interest would there be on an $87, 400 loan for two years, eight month and 15 days at the interest rate of 4. 5% annual interest rate using a bankers year Please take your time. The solution is below the wildlife photo. .. more