Hi everyone. I was sitting in my living room watching flipping Vegas and a light goes off in my head. I have friends in Las Vegas, we could jv deals in Vegas. Is there anyone currently doing deals in that area? My question to you is, How good is the market for wholesalers, really? Hold no punches on the answers please.
That TV show is staged and for all intents and purposes is faux reality TV. Nothing in Vegas exists like that. Margins are squeezed extremely thin on flips. I havent come across a single wholesaler thats showed me any deals that werent already on the MLS or priced at market value. Its not 2011 anymore, and from what my research is telling me, its a buy and hold environment because prices are still decent, not great, and interest rates are so LOW. Getting a home that might be 10-20% over priced at 3.75% on 30 yr fixed that can cash flow nicely isnt the worst thing in the world.
@David Schach knows what he's talking about. The majority of wholesalers are offering "deals" at market value. I don't even understand how they're surviving.
So glad you guys shed some light on that for me. I hate to get my friend excited and then we make no money and we loose friendship.
Remember that all those flipping TV shows get a lot of revenue from the advertisers of the show. They can even lose money on the flip and come out way ahead because of the TV show revenue.
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