Is It Too Late To Get Into Wholesaling Properties?
Is it too late to get into real estate investing and begin wholesaling houses?
The statistics show that the U.S. housing market is heating up, and rumors of increased competition over homes are popping up everywhere.
There are even some rumors of investors giving up, and giant private equity firms moving from distressed inventory to new homes.
So is another housing bubble occurring already? Is it too late to take advantage of the market?
No way!
Yes, there is increased competition in some areas. Yet put in perspective that is compared to the last couple of years when no one wanted to buy because they were too scared and wholesalers had a tough time selling at any discounts, or even giving it away.
Yes, there are not so savvy amateurs paying just short of a million bucks for (way over value), then piling money into rehab work they shouldn’t be doing, and then getting frustrated when their bloated prices don’t catch buyers or their returns are low.
Giant private equity is switching gears because they have realized just how much work rehabs are and have put themselves in position where they need endless inventory.
Are there amateurs that have tried wholesaling properties and failed because they didn’t invest in education, have no idea what they were doing or shamelessly tried to gouge everyone with bad deals and put themselves out of business? Absolutely
Does any of this mean that now isn’t a good time for wholesaling properties? Not by any means. There is a huge void of good wholesalers all over the US.
In fact, while the last few years have offered millions of distressed and discounted homes wholesalers were still starved of buyers. Now there are more buyers, both retail and investors flooding in, and property prices are rising. We have the perfect combination of factors at play and the optimal conditions for killing it at wholesaling properties extremely fast and for huge profits.
Will you have to get better at sourcing deals in the near future, yes. But there are still thousands of distressed homes and thousands more foreclosures in the pipeline to come. Plus remember that in many areas, even in hot markets like San Diego, CA homes are going for 30% under previous values (50% in the Hamptons) and jobs, the economy and a new housing boom are just getting started. That puts wholesalers on the front end of a 10 to 15 year stretch of rising values and demand with many millions to be made in flipping houses
Not seeing the results you want yet? Don’t blame the market – get the right system.
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