How do some of you handle “large dollar amount” properties, i.e >$750,000. Are there a large amount of buyers of thise “luxury” properties…who usually buys those? Are properties of that dollar amount even feasible to wholesale/bird dog
I think alot depends on where you are. I live in Charlotte and there are a huge number of millionaires that live here but in a nutshell, if the numbers work, it doesn’t matter how much the property cost.
Last week a $800k house went up for pre foreclosure. I ran the comps and 3 indentical houses sold for 1.1 to 1.2 mill and the house didn’t need a thing.
There are definitely less buyers at the high-end, but they are out there. We deal with 750k-20 million dollar properties. It takes longer to move them, but the rewards are sweeter. With 1031 exchange there are people looking to quickly purchase 2 million dollar homes.