Hi, I'm new to the bigger pockets forum and new to wholesaling. I'm starting locally in GA with on market listings. In this hot market what's a good buy box, I was advised to do (ARV * 70-85%) depending on level of rehab but seems like on market listings are mostly being bought over asking, how do I compete??
First off, 70%-85% is quite a range and on one spectrum, may be a deal and on the other, isn’t.
Second, while you can certainly wholesale on market deals, it is not very easy to accomplish and most list agents will make it hard or impossible on you. If you really want to wholesale, you really need to find off market deals, that is the area in which the successful operate.
Thanks for your response!
I've wholesaled around 200 deals in my career, out of all of those I would say only 2 or 3 were on market deals.
@Will Barnard is spot on when he says that this is an off-market play, focus on marketing efforts that will get you to talk to homeowners directly.
Wow, thank you.