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Updated over 7 years ago,
- Investor
- Las Vegas. Jacksonville, Bay Area Ca, Nv, Ca, Fl
- 220
- Votes |
- 511
- Posts
Where have all the Las Vegas wholesalers GONE?
I was averaging 3-5 calls per day from Las Vegas wholesalers wanting to peak my interest in their deals, most of the time on the same property . lol . Around the 3rd quarter of last year the calls started to slow down then stopped. I know the market out in Vegas has tighten up considerably and the inventory in the Class C and B properties has shrunk, at least for the flipping market. I am wondering if it is do to the onslaught of "real estate Guru's" that rushed to the area to teach their wholesaling systems or the Dodd-Frank Law's fault . I drive through the city's neighborhoods and on any given block I can find multiple properties in distress, zombie, vampire, abandoned, squatted, boarded or any other term you would like to describe these homes. Yes. I understand that there are many different reasons that a property may go into one of the above categories but come on, they all can't be locked up in some weird note issue by a lender that has folded or was foreclosed without proper process. Are all the wholesalers choosing the easy path by posting sign's and banners on poles? Or could it be possible that the Vegas wholesalers top 1% with a established pipeline has control of 90% of the market. And since when is property considered a " wholesale deal " when it is offered at 80% of retail....? I would like to hear from the other investors here in Vegas on what you think on this issue. If you are a wholesaler chime in.