Best Locations for Wholesaling Real Estate for Quick Cash
Where are the best locations for wholesaling real estate for quick cash in 2012 and 2013?
Investors are constantly hammered with the message that their success relies on “location, location, location,” but what does that mean for today’s investor?
Location definitely matters and involves not just which state you invest in, but which city, neighborhood and even side of the street and lot, but the big question most are asking today is whether they should continue to hunt for deals locally or begin searching in markets a little further afield?
A Country of Diverse Property Markets
There is immense disparity in U.S. housing markets today. In some areas like Sacramento and San Diego, home prices are surging by double digits and distressed property sales as a percentage of all transactions are dropping dramatically. In other parts of the country, foreclosures are surging and new filings are up almost 100%, while home prices still find bottom.
This has some investors battling the competition in bidding wars for discounted foreclosure deals, while others have far more than enough to choose from and just wish that their markets were a little further ahead in the recovery than they are now.
So what is most important in a market for finding the best deals; fast appreciation, deep discounts, direction of home values or just price?
What Matters Most for Flipping Houses?
Price actually matters little and the direction of the market perhaps matters even less, as proven by those who have made millions from flipping houses over the last seven years.
Demand and the ability to find end buyers is important but the two factors investors should be focused on are speed and spread.
It is critical for those focused on wholesaling real estate for quick cash to recognize the difference between profit margin and net profit. Making the most net profit and real money is all about the difference in what properties can be bought for and turned around for quickly. By focusing on the dollar amount of the spread, investors can make a lot more by doing less, rather than just focusing on high volume and percentages.
So Where Should Investors Be Searching for Wholesale Deals?
Investors can follow the media hype and hunt for profits in whichever city is pegged as the hot spot of the day, but the truth is that savvy real estate pros will find opportunities for wholesaling real estate for quick cash all over the country today.
Not all of these homes will have for sale signs on them or overgrown yards or even be getting listed as REOs, but they are there. It doesn’t matter if the local market is rocketing upwards or is just entering the recovery, there is money to be made flipping houses and fortunately there are many ways to find them without ever having to go to a foreclosure auction or going head-to-head in a bidding war.
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