Best Markets to Wholesale?

Question

Hello all,

I am looking to expand a local wholesaling business to a virtual market.  I have been looking at several.  I prefer a market that is not inundated and oversaturated with wholesalers.  So basically, the largest markets are out.  I am looking to pick from 3 or 4 mid sized markets in order to test the waters.

Does anyone know which of the following, if any, have a decent need for real estate wholesalers?  Let me know which are best of the following:

Raleigh, NC

Greensboro, SC

Tampa, FL

Jacksonville, FL

Columbus, OH

Kansas City, KS

Indianapolis, IN

Grand Rapids, WI

Ann Arbor, MI

Oklahoma City, OK

Atlanta, GA

Any help would be greatly appreciated.  Thanks.

Jason Timmerman · Answer

In our business model we either double close or just work with a local agent for documentary purposes.  We grossed over $4 million thus far in 2017 and have general counsel on staff.  We make sure we're not breaking any laws.  I'm just looking for thriving markets, not legal info.

John Thedford · Answer

It is not legal to use contracts to circumvent licensing law in FL. So, if you mean buying and then reselling, no license needed. If you mean playing the assignment game without being a FL licensee that is NOT legal. See 475.42 and 475.43. If you do play that game and get caught, you generally get a cease and desist the first offense but the state could just go ahead and file 3rd degree felony charges for brokering without a license.

A BAR SALE is the acronym for licensed brokerage activitiesAdvertiseBuyAppraiseRentSellAuction LeaseExchangeFOR ANOTHER...so using contracts to circumvent licensing is a brokerage activity. Some states have a loophole but FL closed it due to the number of FRAUDS AND SCAMMERS victimizing the public.