How Can Wholesaling Possibly Be A Viable Long Term Strategy?

[Cody Evans]

Hello All,

I have been learning about wholesaling for the past week now and have my plans to set up a buyers list as well as a plan for finding deals. 

The big question that has sprung to my attention is: How can I run a long term wholesaling business if I already find the deals? 

Translation: If I scoop up all the great deals in the area then how are there going to be enough good deals left for me to continue business? 

It's like I'm a company selling sexual assault whistles; the more I sell, the lower the crime rate thus leading to less sales! Isn't it ironic? 

How do I remedy this issue?

[Jay Hinrichs]

Cody you have to be careful listening to Nationwide experiences  real estate is local.. what works in one area simply will not work in others.. Most wholesalers simply do not keep properties.. 

if you have the means to keep all the great deals you find then your not wholesaling your investing for your personal portfolio..

BUT NO QUESTION the pickings on the west coast are not like other areas of the country were you can roll into a city and buy 5 distressed homes before dinner.. I  know I do this.. 

IN my market of PDX your lucky to buy 5 in a year.. granted there are some wholesalers that do a little volume .. but they come and go.

I think your experience in Solano county will be more like PDX than upstate new york. Or other areas.. West coast simply has no where near the distressed assets.  West coast has A LOT of very cashed up investors.. ( this is why the turn key companies hammer CA as an area to find buyers).. etc etc..

Wholesaling is really an advanced strategy much tougher than those make it out to be and a failure rate in the hi 90s on the west coast..  Like in PDX were I have been active for more than 25 years in the distressed space.. there are only 1 or 2 wholesalers I know that have done this more than 3 years the rest come and go.. and the bigger players buy at court house steps to control the inventory.. 

when a decent RE agent can make 250k a year why go through the brain drain of wholesaling..