I was just wondering if wholesaling is profitable? Is anyone here a wholesaler? How many properties have you wholesaled? What types of properties do wholesalers look for in general? Thank you.
Brian
Wholesaling is profitable if you can do volume.
Thank you klopper for the response. Do you wholesale properties? If so, how many have you wholesaled?
Thank you,
Brian
I have a rehab company that looks at a loooooot of properties. Sometimes we make mistakes and get properties under contract that won’t yield my minimum criteria after rehab. Sometimes we get too many properties under contract and I have a “surplus of inventory”. That’s when I wholesale properties. I have a list of maybe 40 or 50 other rehabbers (most are small DIYer’s who don’t demand as big of profit margin) that I will call trying to unload the surplus inventory. It’s a quick and easy 10-20k that I make from calling or emailing people. Ofcourse it’s profitable, it makes money! I probably wholesale 1-5 properties a month. It’s a great way to turn mistakes into cash.
Brian, any business is profitable if it is managed correctly. That’s also true of wholesaling. So to answer your first question, wholesaling CAN be profitable. It’s really up to the person.
There are several wholesalers here. Some do nothing but wholesale. Some wholesale when they have too many properties at the time.
What does it matter how many deals someone wholesaled? Online, people can tell you any number. There are little ways to disprove it.
Different investors look for different things. That’s part of a wholesalers job is to determine what their clients are looking for and do a better job of finding it than the client can.
Raj
Great comment.
Danny, Which State are you wholesaling?