Philadelphia Wholesaling and Real Estate Market

10 Replies

Hello, I am a new Canadian wholesaler currently in Philadelphia.

I am wondering how is the Philadelphia wholesaling market. 

1- Would this be a good time to start wholesaling in Philadelphia?

2- What has been your experience? 

3- How is the real estate market in Philadelphia?

But i believe i have to start any way because i need to build connections in the industry. So good market or not, I'm here. :)

Originally posted by @Krishna D. :

Hello, I am a new Canadian wholesaler currently in Philadelphia.

I am wondering how is the Philadelphia wholesaling market. 

1- Would this be a good time to start wholesaling in Philadelphia?

2- What has been your experience? 

3- How is the real estate market in Philadelphia?

But i believe i have to start any way because i need to build connections in the industry. So good market or not, I'm here. :)

Welcome to Philly! There's a few REI meetups on meetup.com Hope I see ya around!

Originally posted by @Krishna D. on the AskBP podcast the other day: The best time to plant a tree was 20 years ago. The second best time is today. The market in Philadelphia is crazy good right now. Jump in! 

Thank you very much. for your feedbacks @Mark Redmann @Troy S.

I am hungry. 

I am Looking forward to hustling and meeting you all.

@Krishna D. , do you have an idea on what you want to do? I am sure if you post some details we can stir you on the right way to go about it.

Hello @Rafael Floresta ,

I am a new wholesaler and right now i am builgin my  list of buyers in the Philly area and looking for sellers.

This forum has a lot of information so i m soaking everything.

- my questions at the moment that every beginner wholesaler ask: how do i find buyers and sellers? so i am reading all i can on it. If you have any take on the matter, please share.

If you want to wholesale, maybe find ONE buyer that really is in the market for deals, learn what he does, what he buys, and try to find deals for him/her. That way, when you have a couple deals under your belt, you will be able to really start growing the relationship to other buyers. 

As a newbie, how do you know what is a good deal? Are you sure you can calculate the repairs/ARV without forgetting anything? Why go through the motions of putting a property under contract if there you're not sure it will sell?

Trying to create a "network" of buyers and sellers that works is hard. IMHO. Many try, and they end up marketing crappy deals that no one wants. And then, because you are doing a massive marketing strategy, you end up receiving little to no feedback on what is wrong, and why you can't sell this properties. 

Another option is to find a experienced wholesaler and help him until you learn the trade on your own.

As per finding deals, there are many many ways. Your best success will be doing what no one else is doing (or a limited amount of people). For example, you will read that direct mail is THE way to do it, and at this point, I'd rather pay someone to do direct mail than to do it on my own.

Hello @Rafael Floresta

Some of the things that you talked about were very valuable.

As I am starting, i am learning everything i can. As of now, I do not know what is a good deal or how to calculate repairs or ARV but i believe it will come in time.

Through trial and error, i notice what is working and what is not. But more and more i realize that connecting and networking with other people involved in my community will be key.

Dfntly right about finding another experienced wholesaler (or even a real estate investor mentor) will be really valuable.

Thanks again.

Reach out if you need any help. I buy from wholesalers, if you ever want to find me some deals. :)

Yes what @Rafael Floresta said.  I just started out wholesaling in philly and i have one buyer that buys my deals.  I know what he wants exactly and thats key.  

This post has been removed.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here