Marketing For Wholesale Deals In A Sellers Market
I live in Los Angeles, CA, and I'm trying to determine how to best spend my money marketing in an *attempt* to locate wholesale deals in my area.
Being that it's a strong sellers market, is there any one marketing strategy that would be more effective than others? Or would I be wiser to invest in a variety of techniques (bandit signs, classifieds, contacting owners of vacant homes) instead? :-?
I already have a few agents that send me listings of fixers and REOs on a weekly basis, but it seems that finding a deal with wholesale potential on the MLS is highly unlikely.
Also, is it feasible that an investor might be willing to purchase a wholesale deal from me at, let's say, 75% of ARV instead of the magical 65% given that it's not easy to locate a great deal in this market? The investors I've spoken with tell me "depends on the property."
Any insight would be greatly appreciated. Thanks!
- Darren "I wanna believe" Marble
In L.A., you can probably get away with 75%, because of the high prices.
$500,000 x .75 = $375,000. I'll buy these from you all day long.
Good luck!