Are you wondering where exactly you should be finding your deals?
Would you like to know the perfect areas that make you the most profit?
When I was first starting out in this business, I looked anywhere for a deal. I was just hungry to buy and sell and really didn’t care where it was.
I did lots of deals in war zones where I was nervous getting out of my car. That’s where I thought I could afford and I didn’t look elsewhere. That was a limiting belief based on the more traditional investing mentality.
When I first started, I didn’t know anything about wholesaling homes. I was going the more traditional real estate route where you buy one property, borrow against it, buy another, and down the road you build a nice net worth.
There is nothing wrong with this INVESTING approach, but I wanted financial freedom ASAP and I couldn’t wait years to eventually get there. I’m sure you’re in the same boat.
That is why I’m constantly stressing that you need to be a real estate entrepreneur and not an investor.
Anyways, back to the money neighborhoods…
Lots of people ask me what price range they should focus on for their deals. Here’s the thing…
Different markets have different ranges of prices for areas and it’s tough to compare apples to apples. So, I’m going to tell you the universal areas to look in that may have different ranges of price for different areas…
Here are the 2 main areas to jump into for wholesaling homes:
1. First time homebuyer areas.
It doesn’t matter where you are in the world or what price range it is, this area is gold. First time homebuyers are the biggest pool of buyers. They aren’t as picky as 2nd and 3rd time homebuyers. They are excited to get their first new home. There are many reasons why this is a great area, I just named a few.
Whether you are rehabbing or wholesaling homes, this is where lots of profits are. You can find plenty of discounted homes here and wholesale them to rehabbers or close on them and rehab them yourself. Your cash buyers will love you for bringing them deals in these pockets and will beg you for more.
2. Low income or blue collar rental areas.
Okay, these areas are beautiful because you will be able to quickly wholesale homes to more landlord investors.
Your buyers in these areas are looking to add discounted rentals to their portfolio. There are also plenty of discounted deals in these areas for you to grab and fortunes to be made for landlords. Remember, landlording single families is the 3rd part of the Single Family Triad™ that I’m sure you’ll be getting into soon. It offers monthly passive income WITH long term wealth creation. It’s a no-brainer. But for now, you’ll be wholesaling deals to the landlords for quick profits to build your nest egg.
It’s pretty simple…
These 2 areas are the “money markets” where you’ll make the bulk of your money wholesaling homes. Yes, you can do it in other areas, but keep your focus on these areas to get started and build some fast cash.
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