Wholesaling out of State
Greetings,
I'm based in NYC and real estate, from my experience, is very competitive, especially starting out. I was wondering if I should concentrate on markets like Virginia where I here is hot for investing opportunities.
The problem is, I have limited funds. I've been told out here in the NY area, you need a direct mail campaign of $1500-$2000 per month to get a deal on average every 1 - 2 months. That's very rich for my blood. Is that in general everywhere? (1.07 per letter)
I was thinking I have people in VA I trust that an assist. If I can get a considerable cheaper marketing budget in VA I can do phone calls and preliminary analysis from home via internet and talking to people I know out there. If the seller is ballpark to 70 cents on the dollar, then I was thinking I could pull the trigger at that time for a driveby BPO.
That would I think give me enough info to put under contract and get to a buyer. What are your thoughts.
Thanks in advance