Updated over 10 years ago on . Most recent reply
Newbie Wholesaler In Rural City
Greetings BP members!
I am a newbie wholesaler in Louisiana from the "rural city" of Houma (60 miles from New Orleans). While driving for dollars, I notice a decent amount of distressed homes that I am very confident that I can get under contract. The problem (I think) will be finding cash buyers in this area for these homes. I spoke with a real estate agent that I've had dealings with in the past and she stated that she knows virtually nobody buying homes with cash in this area. Granted, she's been in real estate less than 5 years and she does it part time so I'm taking her word with a grain of salt. Anyway, are there any BP members out there wholesaling in rural areas that can give me some pointers? Any advice would be much appreciated!
Most Popular Reply
I would start with local landlords. Find where your rental market is in Houma, and then identify who serves that market. A good start would be to look for who is posting houses for rent, make the call and let them know what you've said here. You are calling with something to offer, so that puts you in a good position. Asking if you can contact them in the future when you find a deal they may be interested in is a win/win situation if you happen to find something in their market. As for your agent friend, she may be correct from her perspective but I would ask what she has done to work with cash buyers. She may not see them because she doesn't typically sell at the prices they look for in their market.