Wholesaling in the NJ Market

[Eddie Soto]

Hello Good Evening, my name is Eddie Soto and I'm from New York. I'm interested into doing wholesaling in the new jersey market. I'm currently pursuing my new york salesperson license. I'm a newbie ready to take action with wholesaling and also planning to househack in the nj area within the next couple of months. If anyone has any advice on wholesaling and what proper steps to take in such a competitive market (NJ), I would gladly appreciate any tips

[Jonathan Greene]

Wholesaling in NJ is pretty tough right now. If you want to do well, you will definitely need some cash to burn to develop both sides of the business. There are a lot of bad wholesalers in NJ (and everywhere), but the good ones are consistent with their property acquisition. Most wholesalers have too high ARV and too low repair costs, but if they keep bringing properties they will do well. Wholesaling in NJ requires a lot of local knowledge and market knowledge because the market is so hot. A lot of wholesalers are buying in too high because they don't know the market.