Updated over 4 years ago on . Most recent reply
Picking a Market To Wholesale (Competitive vs Less Competitive)
Hey Everyone I have been stuck on this for a while and looking for some feedback.
I live in Austin, but am an investor in a few different markets. I am primarily here to learn how to find off market deals for myself rather than doing it from a wholesaler. I am finding properties for myself as a rental (BRRRR) first and then whatever I can't buy I will wholesale.
Since I am here I figured I would try to find properties here in Austin. I sent about 4K texts and haven't gotten a single lead. Tons of the properties here are overpriced and won't work for rentals but also, the competition is through the roof.
There are other markets I invest in are significantly smaller (60K or lower in terms of houses on prop stream). The other markets are little rock, ar, akron, oh, scranton, pa, and muncie, in. All good cash flowing markets, but not as much appreciation. I am afraid of picking these smaller markets, I won't have enough supply to get enough deals and I will need to focus on multiple markets, but that will split my focus.
Am I crazy for trying to wholesale in Austin? Or do you think it would be better to start in a less competitive market, learn how its done then try to break into a more competitive market? Any insights help. Thank you!
Most Popular Reply
Hi Antonio! You're not crazy ;) Just dive right in. You know Scranton is your favorite! Plus you already know a great property manager, so there is nothing to be scared of here. No to alot of appreciation, but yes to cash flow. We've got some smaller deals lining up. Back back and visit.