Where to wholesale land?

[Allyson Mitchell]

Hi guys. I’ve been researching wholesaling land the last week.  I’m currently trying to figure out the best state for me to start in. I’ve narrowed it down to Tennessee, Florida, North Carolina, Michigan, Alabama, Arkansas, and Indiana. However now I’m struggling to figure out how to narrow it down even further. I’m nervous if I go somewhere over saturated with land wholesalers I won’t have as good of luck.  I based this off of the number of new construction homes in state, how much vacant land, how much those things are selling and their availability, laws, among other things. If anyone has any recommendations on how to narrow it down further or can vouch for one state over another let me know!

[Bryant Brislin]

Most people who wholesale land whole-tail it, meaning they close it on themselves (with their own money or someone else's) and then they put it on the MLS, since finding buyers for land can be like trying to find a needle in a haystack. If you are wholesaling in a market where it looks like a checkerboard and clearly builders are picking off lots, one-by-one, and you are able to source a lot at 1/5 or 2/3 approx of the retail value (the amount builders will pay) then maybe you can wholesale it without having to close on it first. Listen to Ray Zhang's interview with Steve Trang of Real Estate Disruptors on YT from approx May/June 2023 and he breaks down land wholesaling.