Where are the best locations for wholesale real estate for quick cash for 2012 and 2013?
Investors constantly get the message that their success depends on “location, location, location,” but what does that mean for today’s investor?
Location definitely matters and involves not just what state you invest in, but also what city, neighborhood, and even side of the street and lot, but the big question most are asking today is whether they should continue looking for local deals or start looking. in the markets. little further?
A country of diverse real estate markets
There is a huge disparity in the US real estate markets today. In some areas like Sacramento and San Diego, California home prices are rising by double digits and distressed property sales as a percentage of all transactions are falling sharply. In other parts of the country, foreclosures are on the rise and new applications are up nearly 100%, while home prices are still bottoming out.
This leaves some investors fighting competition in bidding wars for discount foreclosure deals, while others have more than enough to choose from and only wish their markets were a little further along in the recovery than they are now. .
So what is the most important thing in a market to find the best deals? rapid appreciation, deep discounts, direction of home values or just the price?
What is the most important thing to blow up houses?
Price actually matters little, and market direction perhaps matters even less, as evidenced by those who have made millions selling homes over the past seven years.
Demand and the ability to find end-buyers are important, but the two factors investors need to focus on are speed and dispersion.
It is critical that those who are into wholesale real estate for quick bucks recognize the difference between profit margin and net profit. Making the most net profit and real money is all about the difference in price of properties that can be bought and traded quickly. By focusing on the dollar amount of the spread, investors can earn much more by doing less, rather than just focusing on large volumes and percentages.
So where should investors look for wholesale deals?
Investors can follow the hype in the media and seek profit in whatever city is considered the hotspot of the day, but the truth is that savvy real estate professionals will find opportunities to sell wholesale real estate for quick money across the country. today.
Not all of these homes will have for-sale signs or oversized yards, or even be listed as REO, but they are there. It doesn’t matter if the local market is skyrocketing or still entering its recovery, there is money to be made selling houses, and luckily, there are plenty of ways to find them without going to a foreclosure auction or going face-to-face. -Head into a bidding war.