Posted by Bud Branstetter on January 27, 1999 at 10:25:30:
As an investor I would want to make 15-20K profit after repair costs if I am going to put out the cash out do the work and take the risks. On a higher end house where I had to put out more cash I would want a liitle more profit. With an 80% figure, I could not do the repairs and make the profit. If you find a novice that is willing to fix up for less profit, you’ve done good. Just don’t expect them to stay in business long. Sooner or later they will come across one that needs a new furance/ac that wasn’t planned for,extra holding time, or something else that wipes out the profit.