Just Starting, Need Advice Please
I was wondering if someone could shed some light on something for me. A few years ago I was locating preforclosure properties for a friend who invested in realestate. Is this what is referred to as "bird dogging"? I worked very hard for about a month and found all kinds of deals but this person hemmed and hawed over each one, his primary excuse seemed to be that it wasn't worth his time for the amount of profit involved. He didn't really want to fix anything up and most properties required that. According to my calculations, the average property I was locating would net a $10K to 20K profit when all was said and done. Is this enough of a profit to interest other investors? I'm considering getting back into it, but I was left feeling very discouraged after my experience. Can someone tell me what the "average" profit per property should be to attract an investor?
10k to 20k per deal is perfect for many of us. If your friend is successful I would find out more of his logic in passing those over. And yes, this is bird dogging.
[addsig]
10-20K is not bad if it is a short hold and doesn't require major work. On a rehab I am l ooking at 20K min and prefer higher.
Randall
[addsig]
Thanks for the replies. My friend is a very wealthy individual and he's use to much larger deals. Me on the other hand would never turn my nose up at a 10K to 20K profit. My logic was to have three or four deals going at a time, his logic was to do one deal, make more money and do less work. I guess it's all relative.