Updated almost 10 years ago on . Most recent reply
Spinning my wheels
I am a new investor (wholesaler) working in the Charlotte, North Carolina and surrounding market. I have been trying to learn and absorb as much about this business as possible. I know there are a lot of great resources here in BP that I have taken advantage of (podcasts, forums, other resources). I have been marketing for leads, and buyers. And I have built up a huge portfolio of properties (leads only, none under contract). But for some reason or another, each one of these deals is a dud. Either the owner wants too much, or I cannot locate buyers that are interested (or that actually follow through). At this point I don't know if I should throw in the towel in the Charlotte market. it seems too overly saturated to make any money here. Does any one have any suggestions on what markets might be more amiable to a newbie like me?
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#3 Marketing Your Property Contributor
- Flipper/Rehabber
- Arlington, TX
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#3 Marketing Your Property Contributor
- Flipper/Rehabber
- Arlington, TX
Charlotte is a healthy market - I don't think it's your market. @Jeff Rappaport above is right - part of the solution is having multiple ways to turn a lead into revenue.
Truth is, only about 1 in 20 leads is going to be a cash purchase opportunity. What can you do with the other 19? The people that are kicking a** in this business are turning more leads into $ in more ways than wholesaling.
Now, if all you do is wholesaling, you are pretty much right in your assessment of that or any market. I don't think wholesaling alone is sustainable business anymore, much less a road to riches....