This may sound like a dumb question, but I live in Cincinnati, Ohio. There are a ton of foreclosures here. I have always wanted to be an investor, but then I learned about wholesaling and like that option. What disturbs me is that I do not see any “We Buy Houses” signs ANYWHERE in Cinti. There used to be one on nearly every pole in every neighborhood and on the ramps getting off the highway. What’s going on??? I wonder if there are investors buying anymore since there aren’t very many people buying retail any more.
I don’t know about your area, but I find it very interesting that many investors have gotten out of the business. It seems that when the market goes up, everyone wants in, but few stick around when things go down. There is money to be made in any market you just need to figure out the best strategies and adapt.
It would probably be good to attend local REI meetings and get an idea of what the established investors are doing in your area.
I don’t know your market, so I am simply guessing.
If there are tons of foreclosures, all of the “we buy houses” people may have more business than they can handle and don’t need to beat the bushes trying to scare up a deal.
It is NOT too late…go to a local REIA meeting and seek out the active investors!
Thanks everyone. I am an a new member of Cincinnati REIA. I will start there.
I am in the same situation in my area and it seems like the opportunity is definitely still here. I have place two adds for buyers and already have close to 50 responses. Now I am off to find the sellers!!!
It’s never too late.
Attend a local meeting.
And put your own We buy Houses sign out there. :bobble
It is never too late to start wholesaling regardless of market conditions. that is one of the beautiful things about wholesaling, you only buy homes that you have sold, so who cares about the market. I have make alot of money in the michigan market this year, and it sucks, but if there is still one person making money in our market then I know I can as well.
Thanks REI. I am getting there. It is amazing that if you implement the strategies learned in the various forums of this site and others they usually work. I have a little way to go, but I am confident I will get there.
Yes its way to late. Don’t start. The market is horrible. Nothing is selling. Wait for it to turn around. I would just “time” the market until its good again…NOT!!
Now is as good as time as any. Get out there and get going.
The funny thing is a realtor I was working with just told me that there’s 0% chance that wholesaling would work. :shocked I see them happening every day from the REI clubs I belong to so I responded to his email that I appreciate his input but I disagree and I’ll be in touch when I need his services. :argue Suddenly he offers to help me find wholesale deals. Amazing huh?? He’s willing to help me do something that he just told me was impossible. :evil LOL Sounds fishy to me but whatever.
I agree with the rest of the forum. Now is as good a time as any!!! Maybe even better because there’s less competition out now. Happy investing!!! :beer
You’re in a perfect place to wholesale! You’re in Vena Jones-Cox’s territory. I’d become a student of hers if you want to wholesale there. Her website is www.regoddess.com. I have worked with her, even though I’m in north central OH, and she knows her stuff.
I get emails from her all the time but I’ve never really read them ( :banghead) She does seem to have a wonderful reputation for knowing her craft. Maybe I’ll give her site a peek and stop being brickheaded. LOL
She really is the Real Deal. I have her wholesaling course and deal finding course. I 100% recomend it. I will say, if you purchase this from her site, they will be very pricey. Got mine from a different site, you know, the one you can bid on? It was much cheaper :biggrin
One reason why you aren’t seeing signs might be that they are illegal and the city has a crackdown on them.
A couple of stiff fines will make a wholesaler try a different approach.
The funny thing is a realtor I was working with just told me that there's 0% chance that wholesaling would work.
LOL, that’s a realtor for ya :flush