Atlanta Rehab Market

12 Replies

Hi Everyone, 


As I begin to ramp up my wholesaling business again in Atlanta, I've been compiling my "cash buyer" list. I'm not seeing as many rehabbers as I used to.

Where did all you guys go? Am I looking in the wrong place? 


Mark

I know a lot of rehabbers in the Atlanta market who rarely purchase deals through wholesalers. In my experience, most wholesalers in Atlanta don't have very good deals and spending too much time working with wholesalers has proven to be a waste of time in Atlanta. I don't know why, but this phenomenon seems to be somewhat unique to the Atlanta market compared to the other markets that I work in, where I've purchase numerous wholesale deals. 

In fact, in the seven years I've done deals in Atlanta, I've only bought the single wholesale deal. And that was my very first property... Which was a pretty bad deal.

I know for certain that there are plenty of cash buyers in Atlanta... I'm one of them... But many of the serious investors tend to be skeptical of wholesalers, in my experience. Perhaps that's why you're not finding them...

Mark, I'm an active wholesaler in Atlanta with buyers in pretty much every part of the city. I would encourage you to connect at some point and we can discuss strategy. I would be open to JV'ing deals that you are trying to get rid of. Hope this helps ! Lowell Crawford, No Time Wasted LLC 678-888-1889
Originally posted by @J Scott:

I know a lot of rehabbers in the Atlanta market who rarely purchase deals through wholesalers. In my experience, most wholesalers in Atlanta don't have very good deals and spending too much time working with wholesalers has proven to be a waste of time in Atlanta. I don't know why, but this phenomenon seems to be somewhat unique to the Atlanta market compared to the other markets that I work in, where I've purchase numerous wholesale deals. 

In fact, in the seven years I've done deals in Atlanta, I've only bought the single wholesale deal. And that was my very first property... Which was a pretty bad deal.

I know for certain that there are plenty of cash buyers in Atlanta... I'm one of them... But many of the serious investors tend to be skeptical of wholesalers, in my experience. Perhaps that's why you're not finding them...

Interesting...So where are these cash buyers finding their deals?

The ones I know are using direct marketing and many are still getting pocket deals from agents they know (big projects and teardowns). 

Hi Mark, I am more than happy to buy through a wholesaler. It would make my life easier and I would be able to spend more time with my kids. I'm hopefull but it hasn't happened yet. I've not seen a deal from a wholesaler better than what I have found on my own. Three of my last four flips I have found on the MLS. The forth was from a neighbor who came to me after seeing my sign in a yard. Bottom line is please add me to your list, because I am hopeful you are better at finding deals than me. If you are then I get to take my twins to Six Flags.

Originally posted by @Jason Hern :

Hi Mark, I am more than happy to buy through a wholesaler. It would make my life easier and I would be able to spend more time with my kids. I'm hopefull but it hasn't happened yet. I've not seen a deal from a wholesaler better than what I have found on my own. Three of my last four flips I have found on the MLS. The forth was from a neighbor who came to me after seeing my sign in a yard. Bottom line is please add me to your list, because I am hopeful you are better at finding deals than me. If you are then I get to take my twins to Six Flags.

Last time I was at six flags, a wasp stung me directly in the armpit....the feeling must be similar to how many investors feel after dealing with some wholesalers! 

That said, not every deal is a winner, but I'll send over my deals and let you pick what works as they come up. Message me your email address and a good number to reach you at. 

Mark

@Mark Moore  Like @J Scott said, most good rehabbers aren't getting deals from a wholesaler.  However, that doesn't mean that wholesalers are selling deals.  Somebody is buying them.  

More of mine have come from word of mouth, partners, 50% from MLS, and a few from a wholesaler.

Hey Guys,

A new deal under contract:

https://www.biggerpockets.com/forums/517/topics/230486-huge-atlanta-suwanee-deal-for-real-reabbers---530-550-arv?page=1#p1524159

The problem I see is that a lot of "wholesalers" aren't true wholesalers. They are just getting deals from other wholesalers and marking them up making them not a real deal and trying to inflate the ARV. These guys are selling to non-savvy investors. As you know a true wholesaler finds his own deals directly with owners. A savvy investor will realize a deal no matter where it comes from. I saw a deal come through the other day and there was a chain of three wholesalers connected to it!! it started from original source at $38k (good deal) and chained up to $58k! too many people reading all the guru books!

Originally posted by @Jason Fletcher :

The problem I see is that a lot of "wholesalers" aren't true wholesalers. They are just getting deals from other wholesalers and marking them up making them not a real deal and trying to inflate the ARV. These guys are selling to non-savvy investors. As you know a true wholesaler finds his own deals directly with owners. A savvy investor will realize a deal no matter where it comes from. I saw a deal come through the other day and there was a chain of three wholesalers connected to it!! it started from original source at $38k (good deal) and chained up to $58k! too many people reading all the guru books!

I agree, and there is some of this happening. That said, I don't follow that practice, and knowing that others do I tend sell my deals quick. Both deals I've posted here in the last few days are my own, and one has sold within 24 hours. Best of luck!