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Doing research for investors

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MMCHNY

Freshman Member
Joined
Nov 20, 2007
Professional Status
General Public
State
Massachusetts
Hello everyone,

Business is extremely slow so I've been looking to supplement my income. I have seen a few ads from investors looking for someone to do research at courthouses to find estate & distress properties. Is anyone else doing this and what do you charge for your time? Do you charge by the hour or by the job? I'm just trying to get an idea of what I should ask for my time, especially with today's gas prices. Some research can be done online, but not all. Thanks for any input anyone can give me.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
For those jobs, you have to be half salesman and half con artist. You are generally paid a cut of any profits of the deal after it's flipped. It's a cut throat commission based job, with about a hundred other bird dogs and real estate agents looking for their investors. Being a broker with all the resources, we do all of our own research in house... nothing is subed out. We get about one in every 15 deals we look into. Takes a LOT of research, and it would be better for you to buy a foreclosure yourself than to work 6 moths free for someone else.
 

Mztk1

Senior Member
Joined
Dec 3, 2006
Professional Status
Certified Residential Appraiser
State
Florida
In the State of Florida, though a lot of investors will offer you $1,000 or 5% of the net on any house you provide the lead on, it is a felony unless you have a real estate sales license.

I didn't believe it until it was pointed out to me. I suggest you research real well on how you are paid and whether such an arrangement is allowed by law in MA.
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Tough row to hoe, I work with a large property acquisition auction company. Your talking lots of time for the research, lots of windshield time. Unless you are hooked up with one for part of the profits I don’t see many paying the cost for the research. I figure I have about $700 to $900 minum in each one I do in the rural area. My commission on the deals run between 1.5% to 2.5% of the gross profit.

Lots of bird dogs runing the field and not many real birds you can make a meal on.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Go to work for an oil hedge fund and make jillions...
 
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