Is wholesaling still as profitable as pre pandemic?

Question

I ask this as a newbie looking to start wholesaling this month

Jonathan Greene · Answer

Wholesaling was never and will never be profitable compared with the amount of people who try it and fail miserably as Account Closed suggested. Why are you looking to start wholesaling? If it's to make money to invest, work another regular job and you won't lose all your money. If you want to wholesale, ask yourself these questions. 1. How much money do I have for marketing? 2. How much real estate knowledge do I have? 3. Do I know how to calculate repair costs for every part of a house? 4. Do I have MLS access or someone with it and if so, do I know how to really judge the ARV of a property? 5. What money am I going to show to get these deals under contract to assign? If you don't know the answers, don't try wholesale.

Account Closed · Answer

I suspect the answer is in the number of bodies of people who have tried before you that you have to step over to actually do a deal. I suggest you contact the people on BP saying they were going to start doing wholesaling and ask them if they ever got a deal completed. It should be an eye opener.

Account Closed · Answer

@Daniel Hurtado I think as soon as the unemployment benefits run out, and the housing market cools off, and the banks start foreclosing on these people who were protected then the opportunity for distressed sellers will decrease. Most wholesalers fail because they don’t have an efficient way of finding properties. I as a cash investor find my own deals and flip. I have a process in place that helps us get in front of distressed homeowners efficiently so it works for me. Long story short - there will be even more opportunities in my opinion.

Jeffrey Donis · Answer

@Daniel Hurtado Yes, you can find wholesale deals in any point in the market cycle (however, you might have to change markets).

Is wholesaling still as profitable as pre pandemic?

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