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Updated almost 5 years ago on . Most recent reply
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Best markets for wholesaling and buyer's criteria during COVID?
I am getting started in wholesaling and I see COVID-19 as an opportunity to find and reach motivated sellers with everybody inside their homes and perhaps facing financial strain. Of course, we all have to work virtually, so I was wondering what are some great markets to wholesale in during these times? I also would appreciate info on what end buyers are looking for. I read a lot about how investors are moving back to the "70% of ARV minus repairs" standard, but is this for flips, or rentals, and how would the wholesaling process change if the end investor is simply looking to buy and rent out? Or will I have to only target distressed properties that need repairs with the end-investor only looking to flip? As you can see I'm full of questions, I am really excited to get started! I appreciate any help or tips.
Most Popular Reply
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John, you have this all backwards. Almost everyone does. You find the buyers first then the deals that the buyers want. Join a local real estate investor group and build your buyers list first. Find out what they want and then go find it. Good luck and happy investing.
- Stephen J Davis