Hi Jack, You can wholesale in NYC. You need to find motivated sellers. Sellers with inflated prices are not really motivated. Do a search on BP for "marketing" and "motivated sellers" and you will come up with a lot of posts to read! You can also check out some of the "gurus" courses on Wholesaling, which you can also get feedback on in BP. Personally I like Tim Mai, but again, check out the reviews on BP and see who you feel most comfortable with. I started learning and doing wholesale deals late last year and have been focusing on Long Island. My company is now expanding into Brooklyn and Queens, and we just picked up 5 Brooklyn wholesale deals a couple of days ago. So yes, it's totally possible! Don't give up, take action, and get out there!

Wholesaling in NYC is probably the best market to do it in. Don't look at it as if everyone has already taken the deals in that market. You live in a place where there is the largest amount of homes in a confined area in anywhere in the US. There are PLENTY of motivated sellers in that market and there will always be a ton of people who want to sell their house quickly. You don't need a Trump name to do deals there. You just need to search for the deals.

Hi Jack, I used to live in Manhattan for 3 years and then in Brooklyn for another 2 years. My interest in real estate investing began there and I remember feeling the same concerns that you have expressed. I went to a few seminars while I lived there and a lot of the advice suggested to look to the outlying areas as a beginner ALTHOUGH I did meet a successful wholesaler that worked within the city: namely Brooklyn and also Long Island. She had been wholesaling for years. I really recommend going to the REIA meeting in NYC (check website for location: http://reianyc.com/) because it was a great resource. I never officially joined but did attend a few meetings because I was leaving the area. The founder is an attorney and has tons of property so she's very experienced. I met a lot of great contacts there. They also do field trips and hold a lot of helpful seminars-priceless for a new investor! I took a wholesaling class in Albany in late part of 2009 and did some field work of hitting the pavement with bandit signs and did start building a buyers list. It seemed a bit less intimidating to me because the property prices were within my comfort level at the time. The down side is that it was quite a distance away but at least you could jump on a train and make it a field trip. Hope that helped a bit. Best of luck to you! Mary

Dawn Thanks for encouragement. My first goal is to learn as much as I can. Books, Videos, REIAs whatever. Obviously, this business is no piece of cake but I am determined. If you need a motivated intern who is willing to learn quick, please let me know. I'll try my best.

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Updated about 13 years ago, 01/15/2012

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Jack ZucharsPoster

Real Estate Investor
Brooklyn, NY

Wholesaling

NYC anyone?

Jack ZucharsPoster

Real Estate Investor
Brooklyn, NY

Posted March 10, 2011 06:29

I'm totally new to this but have been hooked to this and other sites and books. Already did a seminar and have been on the Internet everyday looking for deals. As I read posts on this site, I realize, maybe I AM in a difficult market since it's almost impossible to find motivated sellers (of any kind). Is that just my newbie instinct talking or NYC (Brooklyn/Manhattan) market is indeed tough to crack?
I'm surrounded with grossly overpriced properties sitting on the market of months but absolutely no price movement!! This is not supposed to happen!
Should I start looking in other areas ? Is it even possible to do deals in NYC ? Or you must have Trump as your last name to be able to do deals?
Any insights will be helpful. thanks

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