What's it like to wholesale in colorado?

Question

I'm curious what the scene is right now with wholesaling in colorado at the moment? Is there a lot of people doin it? Or are more people trying to flip?

Bill S. · Answer

Tyler, the name of the game in both paths is finding deals. With flipping, your deal doesn't have to be as good because you don't have to take your money off the table before the rehab begins. The down side is that flipping has many baked in risks and you have to be a good project manager. Take inventory of your skill set and see what fits best for you and then do that.

Anson Young · Answer

Focus on finding deals, anything you do WITH those deals can come second.  If you want to flip, build, buy apartments, whatever, get good at finding deals and you will succeed in all of those areas!

Tyler Scott · Answer

@Anson Young yeah the front range is so tight. Prices shot up and it seems like everyone still wants in, even tho it's so competitive and hard to find a deal. I live on the western slope of Colorado near grand junction and the markets have been going up but they haven't seen the quick jump like the front range. Over here inventory is low too. Prices are up but they aren't as ridiculously high as places between boulder and denver. I live in delta and montrose delta and grand junction seem to have less players in the game. Just wondering if wholesalers are starting to hit the western slope. I wanna start flipping over here because prices are still somewhat reasonable but the good deals are hard to find. Today it seems like the most valuable skill in real estate is people that can find deals and that's basically wholesalers whole business. So I'm wondering if I should learn the tricks to the trade of wholesale and then flipping can come after.

Anson Young · Answer

Tyler, across most of CO, we are in a seller's market.  Inventory is low, prices are going up, etc.  This typically means deal scarcity for most investors.  This also means a ton of people want to get into real estate, jumping in.  I'd say its a pretty normal split, wholesalers trying to wholesale, and flippers trying to flip.  Nobody would know the actual percentage split, but its been this same way since the market turned and tightened up.  Competition is high right now for sure. No matter the market conditions, there will ALWAYS be people trying to get into real estate by wholesaling...That said, if you stick with getting good at finding deals, it does not matter what you do with them, as long as you can find them.

What's it like to wholesale in colorado?

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