12d • General discussion
Best virtual markets for wholesaling đź‘€
I get asked this every week and honestly I think ppl overcomplicate it.
Everyone wants someone to just say “go to Ohio” or “go to Florida” or “go to Texas” lol but that’s not really how it works.
A market can be good and still be bad for YOU.
Like a market with $600k houses might look like it has some huge spreads but if you’re new, comping can be harder, buyers are pickier, you don't understand the real cost to rehab, sellers are more sophisticated, and your mistakes are more expensive.
Then on the other side, a market with $60k houses might look easy… but now you’re dealing with rough areas, war zones tiny assignment fees, title issues, buyers wanting everything for pennies, etc.
So when I’m looking at virtual markets I’m not really asking “what’s the hottest city?”
I’m asking:
Can I find motivated sellers here AND can I actually move the deals?
Because getting the contract is only half of it.
Here’s what I’d look at:
- Are buyers active?
Before I spend money in a market, I wanna know if cash buyers are actually buying there.
Not just “there’s investors there.” Whats the real days on market for cash deals
- Is the price point worth it?
I personally don’t love markets that are too low or too high.
Too low = alot of headache for small fees.
Too high = bigger numbers, but usually more competition and more room to mess up.
I like the middle. Affordable enough where investors can buy, (300-450ARV) but not so cheap that you’re fighting for a $3k assignment (20-60k).
- Is there actual distress?
In any market, you need a reason for sellers to sell at a discount.
Vacant homes, probate, tired landlords, liens, code violations, inherited properties, divorce, tax issues, properties that need work, etc. and don't assume one of these means someone wants to sell, stack lists & followup
- Can you comp it without losing your mind?
This is big for virtual.
Some markets are super weird. One street is $300k and the next street is $95k. Some areas have too many rural properties. Some have no clean comps.
If you’re brand new, don’t purposely pick a market where every comp is confusing.
- Does it match your lead source?
This is where alot of people mess up.
A good cold calling market may not be a good PPC market.
A good pay per lead market may not be a good direct mail market.
If leads cost too much compared to what assignment fees look like, it’s not a good market for that strategy.
- Is dispo realistic?
Can you find buyers fast?Are there investor friendly title companies?Are assignments normal there?Are buyers actually answering?Are there Facebook groups, agents, wholesalers, landlords, meetups, etc?
Acq gets all the attention but dispo is where you find out if you really have a deal or not.
Honestly, I’d rather be in a boring market that works than keep chasing whatever city everyone on YouTube is talking about.
The best market is the one where you can build a repeatable process.
Not the one that sounds sexy.Not the one someone said was “hot.”
Not the one you randomly picked because you saw a big assignment check there.
Before you go hard in a market, ask yourself:
Can I find sellers?Can I find buyers?Can I comp it?Can I afford the lead cost?Can I actually close and repeat this?
That’s really it.
Drop the market you’re looking at below and I’ll tell you what I’d check before spending money there.
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Best virtual markets for wholesaling đź‘€
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