All Forum Posts by: Asher Anderson

correction of the profit percentage on my last post:

the $2,500 is 5% of the net profit. I have seen other company's that offer 10% of the net profit to bird doggers. I don't think I could go below 5% myself, and I will more than likely charge 10% on the next few property's that I find for them.

I wrote up a non-disclosure agreement contract for the investor to sign. I made my payment subject to the successful purchase of said property, and I charged $2,500 per property, which comes out to about 2% of the net profit. I did this with my first 2 properties and it worked out well.

You might want to try AMR appraisals. It's a compan that I've done work for that has appraisers covering almost all of California. They have legitimate appraisers working for them, and they do a good job.

I am thinking about purchasing some rental properties and I am trying to educate myself on the proper way to go about doin it. I've read about the 50% and the 2% rule and I think I have a clear understanding of it. Also, from reading other posts, I've read that buying rentals in cash instead of via loans is the way to go.

I currently am bird dogging for a couple investors and finding sfr's for sale for less than 100k, and that have typically 80k equity. I originally considered buying one of these properties as a rental, they rent fro around 1100-1200/mo, but after reading about the operating expenses it doesnt seem like I would make any money, maybe just cut even ($650 for mortgage/insurance/taxes, + $600 for expenses is a -50 monthly cash flow).

My current thoughts are: bird dog a few more deals until I can contribute a reasonable amount of money to a flip, then continue to flip homes until I can buy one of these properties cash as a rental. then my net income would be approx $600/mo. Rinse and repeat, trying to aquire 1 - 2 properties a year.

I am wondering what everyone's thoughts are on this strategy. Should I purchase the home now and rent it out, capitalizing on the equity, or should I wait until I can purchase a home cash?

I'm new to bird dogging ad was curious exactly how others charge. Do you charge an invester for the property information on the potential investment, or is your pay based on whether the invester chooses to act on the property? Just curious as to how others were doing it.

I'm an appraiser in Central California who hunts for great equity deals on the side.

I don't know of any REI clubs, but I do bird dog for the area if you are an investor or looking to invest.