Course Overview:

**Stop** You only need to go through this section if you are going to wholesale virtually.

We highly suggest wholesaling in your market you live in unless you are in a market where there is no investor activity or just to high priced to wholesale.

If you are not wholesaling virtually please skip this section and move on to cash buyers.

When it comes to picking a real estate market you have a few things to consider.

1. Its always easier to do deals in your own market if its possible because you can go see the properties, talk to the sellers and do the work yourself. Plus most markets are GREAT for wholesaling.
2. If you decide to invest virtually you have to hire someone else to do to meet with sellers, take pics of the property etc… So you have to hire, train and manage someone. You will also need to give them a portion of your deal usually 10-20% so you need to consider all of this.

You have to weigh these options out to see what is best for you.

*To be very clear 9 out of 10 students will want to use their own local markets. You only want to pick a new market if you have extenuating circumstances like your market is priced too high or there are no real estate investors buying in your market. 

 

When to know if you should pick a different market?

• If you are in an area where the median home price is above about $400k
• In an area where there is very little inventory
• Where there is no investor activity

Using Listsource To Choose A New Market

* Important note. Listsource is not a tool you need to buy or use for any aspect of your wholesaling business. You can get a free account for market research only. I use it only for a visual representation of the buyers in a market. You can do the same thing in propstream if you export a list. Also please note you skip this step if you are not wholesaling virtual or need to pick a new market.

 

What to look for in a market?

Keep in mind, there is NO MAGIC MARKET. What is more important than picking a market is picking the sections WITHIN a market. That is where Deal Hacking and the property avatar generator comes into play.

• Do you know any other markets? Have you lived other places? Do you have contacts in other markets?
• Investor activity – you want a min of a 50 cash buyers in 6 months or 50 flipper buyers in propstream (see video above)
• Average home price of $150k ( give or take)
• Overall population of about 250k people
• Strong rental markets
• Strong retail markets
• Markets where there isn’t a ton of competition.

Some Good Markets To Consider:

• Raleigh North Carolina
• Charlotte and many other NC cities
• Indianapolis Indiana and many surrounding areas
• Kansas City Mo
• Columbus OH
• Cleveland OH
• Many markets Alabama
• Many Cities in Tennessee
• Many markets in Georgia
• Orlando
• Jacksonville

 

Markets You May Want To Avoid :

These are some markets that would be super competitive:

• Phoenix Az
• New York City
• Bay Area CA
• Los Angeles
• San Diego
• Hawaii
• Las Vegas
• Smaller cities with little to no investor activity

Boots On The Ground

If you decide to go virtually you will need to hire boots on the ground. Someone that help take photos and meet with the sellers.