What's Involved in Looking for Wholesale Deals in Other Markets?

[Yogi Shah]

I'm in Central NJ and have been looking for great wholesale deals (or fix & flip) but NJ seems to be a tough market. I'm thinking of looking for wholesale deals in other markets, perhaps Jacksonville or Tallahassee, FL or Columbus, OH.  

What's involved in going to another market that I'm not familiar with based on just hearing that they're good wholesale markets.
Any advice?

Also, any advice on the NJ wholesale market would also be great.

Thanks,
Yogi

[John Teachout]

Well, unless YOU are going to go there and oversee this project in person, you need to build a team. You need to do that BEFORE you buy a property. That way when you find an off market deal, you can send "your people" over to inspect the property, have your contractor estimate the extent of the project, and so forth. If you buy something first, you're going to be in the "I bought a property in Awaysville and don't know what to do next". Meanwhile the holding costs will be accruing and you'll bleed to death financially.