Getting started being a bird dog is the best way to get your feet wet, and can be profitable if you build it into a system.

And actually would have come out pretty good (probably about $15k to $20k profit).

ok cool I love my mom and my parents - and since my mom is a real estate agent I didnt want to work with her as personal feeling or other things might get in between my ideas and purchases, so anywaysmy mom was explaining to me that since I am renting now I should be buying a house with a multi family and rent the upstairs floor, this will save me lots of money, this makes sense, since I do still work and do real estate investing on the weekendsbut I am still within my lease and can not get out (I can just lose my deposit and pay another fee) I was thinkin of gettin a multi family and renting both out with a pretty good ROI - this will profit me some money in my pocket though it will not be big atleast there is still cash in my pocket.What do you think I should do find a property and live in it and lose my deposit or stayin renting until the lease is up and currently get a investment property?

That leaves $1,545 per month with which to pay the mortgage and for any profit.

The 30% equity spread that Jim was outlining will cover all your expenses and profit margin NOT including repairs.

Is it a non-profit?

i know the hunt for a profitable property is the hard part but i think we just need some guidence on where to look!?!?!

Also, I know that due diligence is extremely important in finding a deal that will be profitable.

since lenders don't like too many loans with an investor, and since i plan on buying several hundred over the next few years, i thought it might be easier to go private.i would buy with cash and rehab. afterwards i would refi to pull out investment and some profit, not going over 80%LTV, with new 1st. explain to lien holder that i would be selling doing a wrap to create cash flow. be up front with them.just wondering if this is plausible. i would love to get opinions or any other ideas for accomplishing this.jim

Also How can I make sure that I am protected, and get my share of the profits?