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Updated over 4 years ago,
Are You Still Wholesaling Amidst Covid-19 Pandemic?
Perhaps this has been discussed already on here, if so I apologize. My question is simply, "Have you still been successfully wholesaling during the COVID-19 pandemic?"
I would think that with all the economic turmoil, it could increase the number of people out there that could benefit from a fast cash sale. Traditionally most of my sellers have been via probate.
With that said, with the probate courts moving slow, and evictions right now being basically non-existent (due to widely shut-down courts) I've found it a little tricky figuring out what to do.
I called my probate list about a month into the COVID situation (to "test the waters"), and most people said they were frozen 'till the pandemic blew-over.
With the country slowly opening up I'm thinking people's mindsets could be starting to change, especially considering the dire financial situation of so many right now.
But then again, since it's basically impossible to evict tenants right now, I'm thinking that could hurt wholesaling as very few of my cash buyers ever really want to buy with a pre-existing tenant, let-alone a non-performing pre-existing tenant.
Another reason I've been poking-about to figure out a way to continue wholesaling in this climate, is because a lot of the most successful people talk about thinking "bull" (market) when everyone else is thinking "bear" (market). So I was thinking about applying that same mentality to this situation, and find creative means to press-forward when so many of my competitors are likely stopping or halting, due to the pandemic.
From a safety perspective, to emphasize social distancing, I was going to propose that either the current owners do a video walkthrough via a live video call with us, or that they let us get the keys to allow us to do the walkthrough alone. I could take screenshots from the video call to create the photos that buyers like to see (electrical box, furnace, kitchen, roof, etc.)
In-Summary, my questions:
1. Have you still been successfully wholesaling amidst this pandemic?
if so,
2. What strategies have you implemented that've allowed you to thrive wholesaling during this time?