Real Estate Agent · Miami, FL · Member since 2020 · 7 posts · 1 vote
Is miami florida too saturated and over priced to become a wholesaler? Median sale is around 330k. Lots of sellers won’t go any lower in hot areas. Any advance of which zip codes or areas are great to wholesale in south Florida?
Flipper/Rehabber · New York, NY · Member since 2019 · 340 posts · 122 votes
5y
I don't think any market is too hot, in fact the hotter the market the more chance of success and higher sale values if you are a wholesaler. The question is how does your marketing strategy of obtaining motivated sellers differ than the rest. We are in New York and make a killing in this saturated market because what we do works. Hope this answers your question. DM me if you have questions.
Just my opinion but no market is too hot to wholesale in. As long as you are putting in the work and following up, you'll get deals
This is 100% correct. No market is too hot to wholesale. Obviously more deals tend to come from lower income areas but that doesn't mean a good strategy aimed at these areas is any less valid. For Miami you're looking at Allapattah, Little Haiti, Little Havana, North Miami, Miami Gardens, Liberty City and the general north eastern parts of the city. You'll be looking for rough areas, back taxes, liens, liens for illegal additions (hahaha a lot of those), code enforcement penalties. Narrow down on the those and find the sellers who are really stuck and you'll be able to find something. A lot of people talk about tired landlords but I've found that that is not enough of a problem for most sellers to go the wholesale route instead of a typical MLS listing.