Starting Virtual Wholesaling

2 Replies

Hello,

I want to start virtual wholesaling properties in the southern states. I feel that I should look into other real estate markets and test waters else where. I understand the jist of wholesaling and have the tools to speak with sellers over the phone. I am trying to find the right market for me to dive into and start hitting the ground running from there.

All opinions are welcomed.

Ray

I would think about how much you want to spend, how much time you can commit, and how competitive you want the market to be.  The more competitive the more potential buyers, but also the more people you will be competing against to get deals. 

Maybe, a second-tier city in a popular state (think Texas and Florida) or a large city in a less popular state (think Alabama or MIssisssippi).  There is information online about cities that have the most flipping activities and cash buyers that should give you a good idea of maybe a popular area.

I think most importantly, is building a buyers list so you know what kind of properties to focus on.  Maybe partner with someone first couple deals to get your feet wet.

I'm not experienced in this, just interested in doing it as well so take my advice with a grain of salt.

Scott