OfflineI know Dean Says you can make money in any market, but...
I'm investing in Detroit, and no one is buying (other than investors), and the prices are so low (40%-80% of FMV) that it seems like it's not a smart place to invest.
Does it make sense to invest and/or wholesale in an area where anybody (and I do mean anybody) can get an 80k-110k home for 20k or less (waaaaay less)?
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I'm investing in Detroit, and no one is buying (other than investors), and the prices are so low (40%-80% of FMV) that it seems like it's not a smart place to invest.
Does it make sense to invest and/or wholesale in an area where anybody (and I do mean anybody) can get an 80k-110k home for 20k or less (waaaaay less)?
The title of your post is a great question I have been
thinking about same thing ,the body of it on the other hand kind of contradicts itself, what I mean is if you can buy for so low your question is answered,why wouldn't you buy in a buyer's market? It is cause we want to wholesale only,
as for others it is a great time to buy.
Now my question for you how do you know "no one is buying" how do you get this information?
The reason I say this is since that's is what
I thought before I researched the local market search, unless that's how you got your info. You can do that online
Getting back to the title my question is with so many REOs it isn't easy to get as good as deals to wholesale to investors, that is where the question comes in(it is just my opinion)don't get me wrong.
What do you investors think about wholesaling in today's market ?
Orit