Hot Market-HELP

[Account Closed]

Hi All, 

I am still fairly new to the wholesaling arena and my current market is on fire right now (Houston). It is definitely a seller's market. Does anyone have any advice on what list would be good to target (outside of absentee) during this type of market? I feel that sellers now know that they can get more for their homes and they aren't as willing to deal with wholesalers. Any thoughts would be greatly appreciated.

Thanks,

Darell

[Albert Yamoah]

Why wholesaling? Why not actually invest (i.e. buy, hold, cashflow)? Wholesaling is just another job, like "flipping". Check out this simple strategy:

-Hard money lenders will give you up to 75% ARV on a property (including funds for rehab).

-After rehab and with tenant in place, conventional lending will refinance the home for at least 75% of its market value.

1.) Buy a property for 50% ARV,

2.) Rehab it for under 25% ARV,

3.) Find a qualified tenant to rent it,

4.) Refinance 75% of the market value

5.) You now own a cash flow property with little or no money in the deal

6.) Repeat, continuously.

Wholesale if you're looking for a new job; invest if you want to invest.

AY