Is Wholesaling Possible In The Greater Seattle Area?

Question

Is there any wholesalers out there that practice in the Greater Seattle Area who can give some tips and advice about the process on day of the transaction? All these Gurus make it sound so easy. Thanks... ^_^

Ryland Taniguchi · Answer

Definitely not easy to wholesale deals. You have to be good at marketing, great at negotiating, and know how to calculate ARV and repair costs. I flipped and did land development for 15 years before i started wholesaling.

We tie up 15 to 20 seller contracts a month but maybe 2 to 5 will actually wholesale and we'll flip or develop 2 to 5. Pretty low conversion numbers. But in real estate investing you only need one great deal to make your entire year. The biggest check I received on a wholesale deal was $292,000 (technically it was a back-to-back close) for a view property tear-down that a builder built a $1.5 million house on.

Amol Shanbhag · Answer

I would love to get someone to wholesale a deal I am involved in Seattle. Let me know

Jennylynn Caldona · Answer

Hi Vlad, thanks for reaching out. Since I'm a beginner I wanted to put together one wholesaling deal at a time. I'm still researching how to put deals together and I'm currently networking with buyers and investors for future deals. In the far future when I get used to wholesaling I would really like to Buy and Hold before I turn 40 years old. ^_^

I am always open to any suggestions you can think of, thanks!

Jennylynn Caldona · Answer

Hi Rory, nice to meet you. I am glad that wholesaling in our area is possible. I would love to connect with local REI's like yourself. Do you go to any of the REI clubs? I am planning to go to one but not sure which yet. Any recommendations?

Kathleen Wilcox · Answer

I come across deals to wholesale from time to time.  Is there a specific property type you are looking for?

Rory Boone · Answer

I have only been to one. Which was the deal of the year event? I'm sure they all have some value but I do not attend any regularly. Most of my time is spent putting looking for deals and talking to sellers.

Vlad Kuzin · Answer

Wholesale is indeed possible, I do wholesale at times when I do not have capacity to rehab. Gurus like to tell people to start with wholesaling as it requires “no money” according to them. Reality is, you have to spend good amount of money for marketing to get a good deal.  So just living off wholesale will require you to be experienced in finding properties fast, but if you just want to do few deals a year on a side in addition to having full time job it can be good start.  What are your goals in regards to wholesaling?

Rory Boone · Answer

sure I wholesale deals in seattle. What can I help you with?

Is Wholesaling Possible In The Greater Seattle Area?

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