How to start wholesaling in a tight market

How to start wholesaling in a tight market

Property Manager · Denver, CO · Member since 2013 · 15 posts · 6 votes
Hello all. I'm in Denver, CO, it's a pretty crazy market here right now; prices going up, bidding wars, even distressed properties are selling easily. I want to start in wholesaling but feel like my local market will be hard , I'm sure there are plenty of experienced wholesalers who have already picked over the low hanging fruit, and I feel like it will be difficult to find deals, when even ignorant people know how hot our market is. Any advice on how a newbie with a very low budget could break into this market? Or should I consider wholesaling elsewhere? I know some of the big wholesalers in town are focused on other out-of-state markets. I would be willing to consider that but wondering how I get a good boots-on-the-ground person to be there in a non-local market to help? How much do I pay them? How do I find them? Also how do I research beforehand with a different market to find out if it is more viable for wholesaling than my current one? How do I research within a distant city, what spots are worth investing in or not? Any help or advice at all would be greatly appreciated, thanks in advance
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  • Realtor · Denver, CO · Member since 2013 · 2k+ posts · 1k+ votes
    11y

    Get boots on the ground here and FOLLOWUP. There are deals to be had. My friend just wholesaled a deal and walked with $40k. It was off his mailings. 

    Once you know what you are doing, then look into branching out.

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