Hello, my wife and I have just kicked off our real estate investing business with wholesaling. I am wondering if anyone is wholesaling here in Tucson and coming across any deals. I know that the coaches say that every market place has wholesale deals, however, I am wondering if the money it will cost me to market will be worth the deals I will come across. I have been studying intensively on wholesaling and find it very intriguing and believe that Quiters never win and winners never quit. Some of you have been very helpful including GOLD RIVER with answering some question that I have and I thank you for your time and knowledge. So, if there are any wholesalers or cash buyers that are actively investing in Tucson I would love some feedback. Also, please read my subject to or lease option question.
Hi,
Tucson is a good area, you can attend the AZREIA, AZNORI or TREIU meetings in Tucson to meet fellow investors to buy your wholesale properties, it is likely you will sell upwards of 50% of your wholesale properties to end user buyers!
There are many good ways to advertise for free in Tucson, Craigslist of course, but there are other free web advertising opportunities, and use unconventional avenues like bullitin boards, event flyers and local free paper’s!
Wholesaling properties you should not have to spend any of your cash long term, short term you will put up some earnest money and have to carry your expenses to operate, however Tucson really needs a couple of good wholesalers down there as there really have not been any!
Homes between $50k and $200k retail have been selling best there, the market above $200k has been slow and slugish, and significantly longer days on market if they sell at all!
Start building a buyers list and start advertising for retail buyers as you don’t care who you sell to, start looking specifically for what buyers are seeking and screen your prospects to insure how there buying and whether they have pre-approved mortgage financing or are using hard money!
Start establishing relationships with hard money lenders as your investor buyers will probable require hard money!
GR
Thanks a lot Gold River I am looking forward to working in the Tucson area and you give me much hope. I am looking into going to the REI meetings and believe it will be a great place to find buyers, do you by any change know of any cash buyers in this area.
Hi,
Your going to find that 6 or 7 of every 10 investors will buy using hard money!
You need to build your buyer’s list’s! One with investors and the parameters of what they seek, and also build your owner occupied buyers list and what parameters these people require!
Since you don’t care who you wholesale to, advertising and marketing to have active list’s will give you twice the number of potential buyers, and twice the chance of success!
Make sure you make hard money contacts so you have lenders lined up for your buyers!
I used to know quite a few people in Tucson, however we quit investing in flip properties there because of logistical reasons during the fall of 2009, and finished selling properties in 2010! I still have rental properties in Tucson but I am no longer active in that market!
Hi Tim,
I don't have any rental properties, but I know a few good property management companies in the Phoenix area. I live in Coolidge, and I am investing in Pinal County when I can. I've been to one AZREIA meeting, and that's about it.
Take care, and have a great week.
* Dallas