Real Estate Investor · Woolwine, VA · Member since 2011 · 92 posts · 3 votes
if i understand correctly, one of the main criteria when analyzing a wholesale property is to hear motivation by seller to sell, correct? if i'm trying to locate owners of seemingly abandoned/vacated rural houses/properties, it doesn't seem (obviously) that they are trying to actively sell. if that's the case, can i conclude there is no motivation to sell, and can i further conclude that such a house/property doesn't usually qualify as a potential wholesale deal?
Just because a property is not actively for sale does not mean that it is not distressed. The fact that it is rural could mean there are fewer competitors looking to buy and fewer end buyers. Rural is a niche market. Comps may not exist, so you really need to know what your buyers are after and what they'll pay.
thanks, jon--appreciate your feedback!
i think that's a great reminder for me to keep in mind that this rural area is a niche market. and you're right, seems to be limited competition, but also/possibly limited buyers/end users. i'm taking an educated guess that deals in my area may qualify for the buy-and-hold scenario. have you ever worked "rural"?
I do focus on rural, but within commuting distance to the city. My rents are about $100-$200/mo less than the closer in suburbs, but my purchase prices are also $15K-$30K less. I made the mistake of buying a few that were too far out and they were hard to rent for my target return, so I sold them.