Investor in Minneapolis

[Larry Shapiro]

Hi Everyone:

I am a fairly new investor - 3 months in Minneapolis/St. Paul. I am working for some deep pocket investors. Our goal is to acquire homes, fix them up, rent them out and eventually sell them when the market gets better. So far I have only managed to buy 2 homes. My parameters are based on getting a 12-15% return per year and it appears that prices aren't low enough for me to get there. I am seeing 30-50 homes per week and making 10-15 offers. I hope that I am not being too conservative, but would appreciate any feedback. Thanks.