What's up y'all, I'm a newly beginning wholesaler and currently have the option to live rent-free in either California or New York City. I need to know from my experienced vets out there which market is more profitable and not completely over-run with realtors. From my understanding, California has relatively low volume of deals with larger spreads for assignment fees while New York is extremely crowded as people recommend to drive an hour down to New Jersey to start.
If people who are experienced within either area can chime in, I'd greatly appreciate it.
@Steve Ahn I personally feel like the Cali market is a profitable market once you are experienced and learn how to find deals before they are on the MLS or learn how to wholesale deals on the MLS. I am a Realtor in California but I wholesale in Colorado because the market is better out there to do so. I would compare the markets in each of the areas, and depending on where you will be located in Cali.
@Steve Ahn Keep in mind that a 1 hour drive, with no traffic, away from NYC can be country like in many areas. Almost all SFH have an average of 1/2 acre of property or more and mostly owner occupied. The only benefit is that the SFH are much cheaper than NYC but taxes can be high especially if the schools are rated good. Also, there are many areas that are F class.