Wholesaling Long Island Properties

[Paul Scalcione Jr]

I live on Long Island, NY and I am working on Wholesaling. However, examples of sales that I've read about are always using a purchase price of $50,000 or around that and the houses in my area are simply not that low. I want to wholesale a house that's in a neighborhood where similar houses sold for around $250,000, do I put offers in around $200,00 cash (I'm just using a number here, I of course would calculate more COMPS before making an official offer) and work on wholesaling that out to an investor? or is this cash purchase range too high to assume a buyer for? Also, cash purchases would be the only thing to offer for wholesaling purchases, right? Thanks!