Wholesaling during COVID 19

[India Brown]

Should we still doing wholesaling and flipping during this time or wait it out?

[Blake DeWitt]

Hello,

I am new here to Bigger Pockets. I have wholesaled over 250 houses within the last three years and have built up a buyers list of 16,000 here in the Dallas Fort Worth market. I have been keeping tabs on what is happening with the virus. Buyers have shifted, at least temporarily, to models of buying at around 70% of ARV minus repairs. Buyers seem less able to handle problem tenants as they cannot evict them right now. They will bounce back in three months, but the strong buyers are taking advantage of the cheaper deals because they know this will not happen again for quite some time.

As a buyer myself, I am avoiding houses that need many city permits involved with the rehabs. We have a few flips going on right now where we have to work very hard to contact the permit departments to even start the necessary repairs. We have one house right now that is just sitting waiting for a total burnout rehab.