Real estate investors often purchase wholesale properties, which they buy from a real estate wholesaler. The best wholesalers find exceptional investment properties for their clients, saving them time and the expense of researching specific locations for properties, while also getting their clients a great price.
Real estate wholesalers either sell or consign the properties to their clients, making a small profit for doing the legwork and providing services to their clients.
Related: Financial Freedom Through Wholesale Real Estate Investing In The U.S.
What are Wholesale Properties?
Wholesale properties are properties that a real estate wholesaler finds and either sells or consigns to a real estate investor.
In general, wholesalers serve buyers in many different industries, such as food wholesalers who sell and deliver products to supermarkets and convenience stores. Like real estate wholesalers, they find and purchase products that they sell at a good price to their clients for a small profit.
Real estate wholesalers research, find and purchase investment properties that they sell to real estate investors for a good price. Often times, the best properties are contracted by wholesalers before they hit the market; therefore, their clients have access to investment properties before they are listed on the MLS.
Related: Real Estate Investors Can Profit by Buying from Wholesalers
Tampa Wholesale Properties
Tampa wholesale properties are plentifully available in a variety of price ranges, allowing real estate investors to build a diverse portfolio in metro Tampa Bay. This is due in part to Tampa Bay’s strong real estate market, and it’s long-standing track record of profitable real estate investing.
Today, for example, Tampa is a buyer’s market with an average home value of $183,200 and a current average median listing price of $279,000. One year from now, Zillow predicts home values in Tampa will increase 3.5 percent.
Real estate investors like Bill Gates and Jeff Vinik are investing billions in Tampa, which creates an opportunity for other investors to profit, in combination with public and private initiatives to make Tampa Bay a great place to work and live.
Therefore, Tampa continues to be ranked as one of the top places to invest in real estate, witnessed by Ten-X’s analysis for the first quarter of 2017 ranking Tampa the #1 real estate market in the country for single-family housing. The ranking shows that the Tampa housing market continues to flourish with median existing home prices rising at a 13.1% year-over-year growth for the first quarter of 2017.
The Ten-X survey shows Tampa Metro employment up 3.1% year-over-year, which has been consistently growing in the 2-4% range for five years. The two largest job sectors, professional/business services and education/healthcare services, are growing and driving nearly a third of the local economy. Accelerating population growth and a positive economic outlook should bolster demand, and serve as solid underpinnings for Tampa’s housing market.
Related: 5 Reasons Tampa is a Top City for Real Estate Investing
Turnkey Properties
Turnkey properties are popular today, but often leave the investor in the undesirable position of having little or no equity in the investment property. These properties are purchased by an investor, held, rehabbed, possibly rented out to tenants, and then resold to another investor for a profit.
To solve the inherent problem of turnkey properties, we developed a turnkey process that achieves the same goals for the investor without draining the equity from the property. Here is how it works:
- We present properties to an investor fitting his investment criteria, including financial projections.
- The investor selects a property or multiple properties.
- We sell the selected property/properties to the investor.
- We coordinate the rehab, and the investor pays the cost.
- We assist with the selection of a management company who finds a tenant for the property and manages the property from month-to-month.
By purchasing an investment property with a turnkey process, the investor shares in the risk, does just a little more work, and keeps more of the equity.
Related: Generate Higher Real Estate Profits Buying a Turnkey Process – Not Turnkey Properties
Graystone Investment Group
Graystone Investment Group is an experienced real estate wholesaler in Tampa Bay. We serve local and international clients who flip homes in as little as 30 days, as well as clients who hold high cash flowing rental properties.
Unlike other wholesaling groups, we provide clients with a turnkey process at no extra charge. We find properties that we resell to investors at discount prices, while also connecting them with private financing. We also coordinate with rehab and management companies we’ve worked with for years.
To learn more about profitable real estate investments in the Tampa Bay area, fill out our Investor Profile or contact us direct.