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Author Topic: Anyone having a hard time in the wholesale business right now?  (Read 2808 times)

Offline adayatatime

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I know that the rate which people are buying houses has slowed down considerably. Has this affected your whoelsale business at all? Like to hear what some of you guys/gals think.

Aarron

Offline PaulBroni

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Re: Anyone having a hard time in the wholesale business right now?
« Reply #1 on: May 08, 2007, 07:40:00 am »
Investors never slow down, especially if you're a full-time investor. For the long-term, full-time investor, the slowdown just means that "houses are on sale."

If you find a good deal, there's someone willing to take it off your hands.

"To have something you have never had, you must do something you have never done."
"In the beginning, the limited partners have all the capital, and the general partners have all the experience. Towards the end, their roles are reversed."
"Where are the customers' yachts?"

Offline propertymanager

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Re: Anyone having a hard time in the wholesale business right now?
« Reply #2 on: May 08, 2007, 08:19:54 am »
adayatatime,

From what I've seen, the wholesaling business has slowed considerably here.  One of the long time investors in my REIA wants to move to Florida.  She offered two 3-bedroom houses at the REIA meeting for 50% of FMV and no-one took them.  Even a few months ago, someone at the REIA would have taken them on the spot!  In my opinion, the reason is that there is so little demand by retail buyers, that rehabbers and flippers have no-one to sell to.  This is also partially due to the tightening in the subprime markets.

Mike
www.1MinuteToRentalPropertyRichs.com 
This No-Hype, No-Nonsense Book is a step by step course in making money and building wealth with rental properties!  Everything from buying properties at a discount to dealing with terrible tenants.  Now In Paperback!

Offline GOD WNZ

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Re: Anyone having a hard time in the wholesale business right now?
« Reply #3 on: May 08, 2007, 06:04:50 pm »
Hello Aarron,
 Business has not slowed for me , seems to have picked up. wholesaled one today for 15k and next week another going for 25k. The phone is ringing with people wanting to sell. It is a numbers game, in any type of market there is opportunity....but only for the people looking for them.  You will find what you are looking for if you keep looking, Profitable transactions ! Full time investors learn to change their spots in changing markets. I have found many investors give up when the "hot " market tanked. They only wanted the low hanging fruit. While others still prosper, you will too. !
        Just the facts, Darin
Creating and Retaining Wealth Through Real Estate

Offline Brandon Lambert

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Re: Anyone having a hard time in the wholesale business right now?
« Reply #4 on: May 08, 2007, 10:21:24 pm »
I like to tell people in my market that the real estate market sucks.  Get out now while you can.  Then there are more deals for me.  Because as a wholesaler, the market NEVER sucks.  I just have to find different kinds of buyers for different parts of the cycle.  Right now, I sell a lot to guys who retail with owner finance.  They are doing VERY well right now because they are servicing those who can't loans on the sub-prime market.
Eliminate your competition!!
www.probaterealestatedeals.com

Offline GOD WNZ

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Re: Anyone having a hard time in the wholesale business right now?
« Reply #5 on: May 08, 2007, 10:48:44 pm »
Brandon,
 The market REALLY stinks .....you should quit Now ! send me your leads ;D ;D
 Darin
Creating and Retaining Wealth Through Real Estate

Offline Brandon Lambert

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Re: Anyone having a hard time in the wholesale business right now?
« Reply #6 on: May 09, 2007, 07:48:07 pm »
No problem.  I will send all the ones needing full price because they have no equity.   :smile
Eliminate your competition!!
www.probaterealestatedeals.com

Offline mangeuroiseau

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Re: Anyone having a hard time in the wholesale business right now?
« Reply #7 on: May 10, 2007, 08:24:28 am »
I am having a bad time actually.The business(my business?)has slowed down

Offline moonstruckprincessa

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Re: Anyone having a hard time in the wholesale business right now?
« Reply #8 on: May 10, 2007, 12:42:56 pm »
Anyone telling you that the market has died up is trying to get rid of competition. I'm doing exactly what Brandon is and I'm busy as hell.

 




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