newbie wholesaler: how do I determine my target market?

Question

New to wholesaling

how do I determine what market I should wholesale in?

I figured I'd just start in orange county since its a deseriable area

what criteria do I use to determine my target market?

thanks bigger pockets

Carson Nordmann · Answer

Orange county is one of the hardest wholesale markets in the country. High price points mean small percentage errors blow up the spread, and the cash buyer pool is sophisticated and picky. Most newer wholesalers start in a market with lower median prices and more distressed inventory so the math has room to be wrong.

Jack T. · Answer

OC is super competitive but very rewarding. You won't do as many deals so You have to max each deal. I'd also look at the IE while starting out. You may be able to gain quicker traction there while building a base in OC

Maurice Smith · Answer

The market you decide to tackle first should generally be your own backyard. It makes it easier to walk properties, attend investor events, and build your network locally.

That said, if your market is oversaturated with wholesalers and extremely competitive, you may want to explore less saturated markets instead.

I would also choose a market where county data is widely available and easily accessible so you can verify information your end buyers will want to know. Additionally, I’d target a disclosure state so you can accurately run comps without needing MLS access.

Cameron Jones · Answer

thank you maurice. I'm sure orange county, California is saturated. but I'll start here! happy memorial day!