Beginning Wholesale During this pandemic

16 Replies

This is the perfect time to start. You can negotiate an even better deal during the pandemic. Just remember everyone needs a place to stay, people are consistently moving, even in the middle of a crisis. 

I just started in the middle of covid as well, i feel that this is the best time to start since there will be a bigger availability of distressed properties due to financial hardship. Not only can you make a profit but you can help people out of a bad situation and help get them some money in there pocket as well. What market are you in? 

Originally posted by @Vincent Fitapelli :

I just started in the middle of covid as well, i feel that this is the best time to start since there will be a bigger availability of distressed properties due to financial hardship. Not only can you make a profit but you can help people out of a bad situation and help get them some money in there pocket as well. What market are you in? 

 I’m currently in Nashville, TN but I’m from Charlotte, NC and have a few people that are willing to help me and have provided leads from D4D so I’m planning to start in Charlotte. 

Originally posted by @Teonia Riley :

This is the perfect time to start. You can negotiate an even better deal during the pandemic. Just remember everyone needs a place to stay, people are consistently moving, even in the middle of a crisis. 

 Do you think it’s still a good chance of finding buyers? I don’t have a buyers list besides the few I’ve found on Facebook. They aren’t hosting any auctions so I can’t find buyers that way either. I guess I’m just nervous to find a deal but can’t find a buyer

@Bria Simmons

Buyers are everywhere. Just give it a shot and worry about the bad later. Every wholesaler has to go through the ringer with deals in order to accumulate some experience.

There are tons of resources to locate buyers. For an example, (what I’ve done) I wholesale in Little Rock, Arkansas - Most of my buyers come from running ads on Craigslist and a post on here. I’ve got over 10 buyers interested just off a few post. You just have to be ready to put the work in, cause the first deal will always be a headache. It’s all worth it.

Hey Bria! The fear of not being able to find a buyer is a genuine problem! To avoid any problems associated with that, make sure you have an "out" clause in your initial contract so you can exit the deal if needed!

Its never a good time to get started so JUST GET STARTED. lol I started wholesaing in the worst climate since the great depression. Back in 2011 it was very hard to find buyers but I did it and I am glad I did it. So, my advice is get started today.

Originally posted by @Chase Guelette :

Hey Bria! The fear of not being able to find a buyer is a genuine problem! To avoid any problems associated with that, make sure you have an "out" clause in your initial contract so you can exit the deal if needed!

Thanks for your help! Can I send you my contract to make sure? 

Originally posted by @Nasar Elarabi :
Its never a good time to get started so JUST GET STARTED. lol I started wholesaing in the worst climate since the great depression. Back in 2011 it was very hard to find buyers but I did it and I am glad I did it. So, my advice is get started today.

Whew lol I guess I will get started! Thanks!

 

@Bria Simmons Its always a good time to get started! No matter what the market does there will always be people buying and selling houses. There will always be sellers in distress or sellers that have properties that they dont want any more. Ive been doing this for 6 years and one thing I can say for sure is that there is an investment strategy for every market.

There's never a "best" time and wholesaling is a tough business. However, what spells the difference between success and failure in the beginning is chasing the wrong (unverified) leads!! Personally I think, cold calling is hard enough as it is and even harder with unqualified leads. If you need help with leads, perhaps I can help. I am a Real Estate Investor and I run a Marketing Company that provides access to qualified, top quality lead sources for Investors and a done-for-you marketing system that will help you turn those leads into actual deals and send out offers!! I have two properties under contract right now...in the midst of this crazy time :) My Company is called businessdriver101.com. Let me know if I can be of assistance.

i love your question Bria and the majority of the response. One thing you have to think about is it a good time to help people and the answer is absolutely. Most people getting started are so focused on their situation ie.... how can “I” make a profit, how can “I” find a deal, or how can “I” find a buyer. Although these are valid questions the approach to help sellers are often forgotten.


Its always a good time to help people. If this is a part of your goal for wholesaling the time and the conditions should be viewed as opportunities. Bria, yes get started but have the correct perspective.