Many real estate investors are wondering whether it’s time to up their wholesaling strategy to engage in flipping higher end homes. So is the leap worth making, is it as hard as some believe it will be, and what are the quirks of the luxury market?

As many new investors are moving into distressed areas to flip cheap low end homes and heightened competition pinches profits in some pockets more experienced investors are debating the pros of adjusting their wholesaling strategy to take on luxury homes. So is it for you?

The appeal is clear. Who wouldn’t want to get paid for touring million dollar homes all day? The competition can be easier, with fewer players to bid against. Plus, it doesn’t take a genius to figure out that 10,20 or 50% profits margins on a million dollar home are a lot more appetizing than those on a $10k or $100k home. Even better, when you get 10 times the payday for doing the same amount of work.

Of course many perceive that working with higher end homes and buyers and sellers is going to be much more challenging and difficult. So is it really?

Those that have already been making a mint from wholesaling luxury homes and flipping million dollar listings will tell you it is often quite the opposite in reality. The transactions work exactly the same. These homes are often in far better condition and in more stable markets than those that are selling dirt cheap, and great homes in great areas are always in demand. Plus, these buyers and sellers are often a lot easier to work with. Most won’t nickel and dime investors; they have better things to do. They just want a fair deal and an easy, low hassle transaction that leaves them free to get on with higher level work or enjoying life.

Are there quirks that can be encountered in this price range that aren’t seen in lower end affordable homes? There could be. Many buyers of course may put more emphasis on trends and designer interiors, though others plans to spend millions on renovations and customization anyway.

To win in this niche hone in on getting to know what’s important to these buyers and sellers, what they are looking for, what they enjoy doing, their shopping habits and preferred ways of doing business, and get out to network in person.

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