Out of State Wholesaling?

Question

So I have heard that the wholesale market is pretty tight here in Southern California... any thoughts on out of state wholesaling? Are there better states than others? For example, I'm interested in maybe San Antonio,TX...mainly because I lived there for several years and know the area. Is it then a good idea to start in virtual wholesaling? Anyone in California that's doing this?

Chris Zink · Answer

@Nathalie Hirsch Just curious, did you end up moving forward with the virtual wholesaling? If so, how did it go?

Ben Leybovich · Answer

Wholesaling the house next door is the hardest thing you'll ever do in RE.  Wholesaling in another market is...I don't even know what to say.

And Natalie, what do you mean "you've heard" that wholesaling is tight in your market.  Shouldn't you "know" your market before you try to think outside?

May be it's just me...

Russell Ponce · Answer

I think its important to have an ally in the market you are wholesaling, someone to at least help with property values. Cris Chico outlines a way in his virtual wholesaling course to use recent sales data from Realquest to guide his offers but I havent tried that. Listen to Sean Terry's Flip2freedom podcast #64 interview with Cris.

Corry Taie · Answer

I am actually looking at moving to Houston, TX next year. I want to start doing business there now so I am not starting all over once I get there. I flip & wholesale in California now.

Looking to make some contacts there now.

Don Schultz · Answer

I too am interested in some responses to this "virtual wholesaling" markets topic.  There are many posts on BP from folks living in SoCal and considering wholesaling somewhere else.  These posts never seem to get much traction on BP.  ANYONE who is wholesaling virtually, please chime in with your thoughts.  Of particular interest are hot mid US markets from MN to TX that one could access easily from SNA.

Bryan L. · Answer

@Nathalie Hirsch  - If it were me, I would try it local first instead of just going by what I "heard".  Give it a try and find out for sure.  People often find out that they can do things that others say can't be done.  For example, lots of people say that you can't find good deals on the MLS, but that's where I've bought almost all of my 30-ish properties.