Wholesaling Success in Northern Virginia?

Question

Hey BP,

I've had some friends in the past attempt wholesaling here in Northern Virginia, but none of them were ever able to get a deal. Mainly because of it being too pricey.

Does anybody else have success here wholesaling? I'm in the Woodbridge area

DuBeaux Dingle · Answer

@Barry Pekin

Thanks for your insight Barry. I know deals are out here in this market, it seems like consistency for a long period of time is what's necessary, like anything in life right?

Effectivness is important as well, don't want to waste your time making the wrong moves. Need to start going to my local REIAs as well, thanks.

Barry Pekin · Answer

@DuBeaux Dingle,

I'm just starting out, so not personally.  But I know a lot of successful investors/wholesalers in NOVA.

It's all in the marketing.  Finding good deals isn't as simple as searching on Zillow or the MLS.  It needs a combination of a lot of personal effort and marketing, and being successful depends on consistency and of course effectiveness.

I also know wholesalers who have started some marketing, possibly sending out a round or two of postcards, and then gave up.  They were destined for failure from the beginning simply because they didn't plan to go at this for a while.  I met a couple at a local REI meeting who was disappointed that their agent couldn't find the right kind of deals even though their agent was taking them to see a number of properties.  None of the sellers were interested in what they had to offer.  Again, destined for failure if they don't figure out how the whole process works and what wholesalers really have to offer.

Yeah, it's an expensive market, but that doesn't scare away the investors I've met.