Australian looking for a American City

10 Replies

Hi! Im an Australian Investor who is starting wholesaling in America from Australia. Im am wondering if anyone is currently and successfully doing it in Austin, LA or New York? Also where else in America people are doing this now?

Thank you,

Marina Wedge

Welcome to the site Marina. I would imagine that LA or NY are going to be rather difficult with the high entry price.

Virtual wholesaling in general is difficult.

Medium head icon colorRyan Dossey, Call Porter | http://Callporter.com

Thank you Ryan!

Yes Im assuming these cities are not ideal but wanted to make sure before picking another one as I would like to move to one of these cities next year. Do you personally wholesale in Missouri?

Thank you,

Marina Wedge

Originally posted by @Marina Wedge :

Hi! Im an Australian Investor who is starting wholesaling in America from Australia. Im am wondering if anyone is currently and successfully doing it in Austin, LA or New York? Also where else in America people are doing this now?

Thank you,

Marina Wedge

wow, that seems like a big step. Not to discourage you, but wholesale in short is an art of buying/picking properties at lower price than any one else. How do you plan on achieving this virtually?

Hi Mohit,

Thank for the reply. Im a really hard worker and I have a ton of creative marketing strategies to find the best deals no one else can. I have had some incredible virtual training/help. I did do this in Chicago and now am stopping to move to a city I would prefer to move too. Im just very interested in finding were people are currently having success doing this. 

Thank you,

Marina Wedge

Originally posted by @Marina Wedge :

Hi Mohit,

Thank for the reply. Im a really hard worker and I have a ton of creative marketing strategies to find the best deals no one else can. I have had some incredible virtual training/help. I did do this in Chicago and now am stopping to move to a city I would prefer to move too. Im just very interested in finding were people are currently having success doing this. 

Thank you,

Marina Wedge

 Well, in that case.. I wish you good luck, and i guarantee you that you have come to right place. I am from India myself and virtually doing alot of research but my plan is more in the lines of Buy n hold, and/or flipping as oppose to wholesaling.

I do agree with the virtual training/help thing, if used right it can be incredible. The other day, i was telling some one on this site about a guy using cheap labour in foreign countries at $2 an hour to get hand written letters to send to absentee owners. Now, thats creative!

Yes this is one of my ways also :-) I am very excited about joining this site. 

Thank you,

Marina Wedge 

Real Estate investing is a relationship business, first and foremost. Successful wholesaling a matter of figuring out what is in demand and getting there faster than anybody else.

But wholesaling generally isn't a business on its own. It's simply a tool in the toolkit. I will find properties that I want to develop myself. Sometimes, I'll sell those contracts to another developer in exchange for a fee. Doing this successfully requires really knowing what the buyer wants. It's hard to do that if you haven't been the buyer before and understood their criteria.

Many wholesalers focus on finding properties. That's actually the easy part. Getting properties under contract is easy. Finding properties that someone else will buy is the hard part. Start with developing relationships with buyers.

I personally like markets with high demand for land. Toronto is a good example. There is very little developable land left within the city. There continues to be an influx of about 75,000 new residents a year, so the demand for housing is high. If you can assemble 2-3 smaller parcels together into a bigger parcel, that has huge value. A single acre can sell for $2-10M depending on the location and the zoning. With prices like that, it's easy to attach a contract assignment fee of a few hundred thousand. 

This is a business of creating value, like any other business. The value is in the eyes of the buyer. No different than if you were dealing in antiques on ebay. If you have a rare collectible, and you know what buyers are willing to pay, you can make money. Wholesaling property is the same. Know your buyer, and the only way to know them is to develop a relationship. Hard to do on the internet.

Originally posted by @Marina Wedge :

Hi! Im an Australian Investor who is starting wholesaling in America from Australia. Im am wondering if anyone is currently and successfully doing it in Austin, LA or New York? Also where else in America people are doing this now?

Thank you,

Marina Wedge

Welcome Marina,

Another Aussie on here ;)

I don't believe you will be able to successfully wholesale from afar.

Just my 2 cents and I'm sure you will get some more great insight from other folks on Bigger Pockets.

Thanks and have a great day.

Medium list n sell logo designEngelo Rumora, List'n Sell Realty | [email protected] | 419 740 6999 | https://agentscomefirst.com/ | Podcast Guest on Show #89

@Marina Wedge 

Hello there! My name is Gustov, and I am just getting started in wholesaling. I live in LA. Perhaps I can be your eyes on the ground. I see every investor as a potential partner, not competition. I'd love to work something out with you - as I'm sure we could have a blast doing some wholesales here in LA! 

Feel free to message me [email protected]

I wish you the best. 

Thanks

I don't have experience in any of those markets. I would never say you couldn't flip properties in those markets BUT if it were me I'd look for some lower priced areas. I was researching a new market the other day and with Google and Craigslist found a ton of investor activity, I took that as a good sign.