Is wholesaling worth doing in today’s market?

[Jonah Tyler]

I just got off a very long phone call with a local broker who informed me that perhaps now is not a good time to be a wholesaler. (in Denver specifically) He mentioned that there’s a boat load of competition between you as a wholesaler and other cash-buyers. He also mentioned that people tend to think that things are a little fishy when you include an assignment clause in contracts, and that investors really aren’t even looking to purchase investment properties right now since we are at such a high point in the market right now. What are your thoughts on this? Thanks! (:

[Mark Russell]

In my experience realtors and brokers and even other investors will be your biggest wet blanket on wholesaling. It works all day long in just about any imaginable market. I just closed one last week making 10k and just got another one under contract with an assignment fee of 12k. It's legal. It's fun. It works. Learn all you can about marketing to motivated sellers. In the wholesaling bible it will tell you different ways to find cash buyers. Cash buyers are everywhere and they want your good deals. Learn to find motivated sellers and cash buyers and your halfway there. Know your numbers like ARV, 70% rule and estimating rehab costs. Treat your cash buyers well and leave plenty of meat on the bone and you'll make good friends. Let realtors help you with ARV in areas you aren't familiar with and when you close a deal give them 2-3 hundred bucks for helping you and they will be eager to help you next time.. This is the most fun you can have with your clothes on. enjoy the journey.