Can You Really Make Money Wholesaling in West Virginia?

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Chapters

• 0:00 Introduction to West Virginia Challenges
• 2:17 Motivation and Lack of Buyers
• 4:50 Population and City Size Issues
• 7:22 Underwriting Deals in West Virginia
• 9:23 Attempted Ban on Wholesaling
• 12:15 Finding Opportunity and Call for Buyers

Transcript

Speaker 1: 0:00

Welcome back to Wholesaling Around the World the West Virginia edition. Now I have spoken negatively about West Virginia for quite some time and we have been virtually wholesaling in the Mountaineer State since 2020, during the original 50-50-50. Now the reason why I've spoken negatively about it is because, as a virtual wholesaler, west Virginia can create problems for you. Starting with, you are going to receive quite a few leads in West Virginia unless you go to your PPL provider and say I don't want any West Virginia leads because there are a ton of motivated sellers inside of the state. However, on the backside of the transaction, dispositions is always going to be an issue, is always going to be an issue, and it's not an issue like in other locations where maybe it's rural and there's a limited amount of investors and they leverage that against you to buy deeper. It's one of the rare locations where there's going to be certain parts of the state where there just aren't any buyers. You're not going to receive any interest in the property, you're not going to receive any walkthroughs or offers, and that's unlike the majority of the United States. The only thing I could really compare it to is certain parts of Montana, certain parts of Wyoming and the Dakotas. It's really kind of an enigma across the United States where it causes so many issues, because the motivation from a lot of these sellers is strictly due to the location and kind of the lifestyle that comes along with being inside of West Virginia. Now I will say this West Virginia is also one of the few states that I've never, ever personally visited, so I don't know too much about the state in regards to how it actually feels to be there and live there. I just know from owning real estate in West Virginia and wholesaling deals. This is my perspective and then also the stats that exist. In regards to real estate, it is the lowest average purchase price, median house price in the entire United States. It is the second lowest median income in the United States and it has a massive drug problem across the state and this bleeds over into what we do in the wholesaling realm. There have been times where we have gotten properties under contract and during dispositions when we were able to actually get a buyer that was interested in going out and looking at the property. There would be squatters, there would be drug sales going on, drug issues going on in the neighborhood and this would run our buyers off. Now some of that could just be due to the location and the property type and whatnot, and I'm not saying this is across the entire state.

Speaker 1: 3:20

But another major issue inside of the state of West Virginia is it doesn't really have a big city. When you look at the cities by population, the most populated city is Charleston, with a population of 45,000. Anywhere else in the United States if you were to say 45,000, you're almost considering that rule. Right, it's borderline, like we don't even want to do a deal there. And then you go to Huntington 44,000. Morgantown, where West Virginia University is, 31,000. Parkersburg, 28,000. Wheeling, 25,000. And then after that you're sub 20,000. Those are the most populated cities in the state of West Virginia. And so because of that there's not really even a specific city that you can say, hey, you can do deals here.

Speaker 1: 4:22

Even though on the surface I kind of feel that way about Charleston and Huntington because they are the most populated, it's still a stretch. By all means, if you were to take those exact cities and drop them in a place like Texas, it would not compare whatsoever to Dallas-Fort Worth and Austin-San Antonio, houston, el Paso and even some of our smaller cities like the Midland, odessa, amarillo and whatnot. So it is a tough place to dispo. That being said, if you are able to find a go-to in buyer inside of West Virginia, you are going to be able to do deals there because there is so many motivated sellers. Now, just like the majority of lower price point markets, similar to the Birmingham, alabama's, jackson, mississippi's, kansas cities, detroit's, indianapolis is where price points can range drastically, when you are underwriting deals, you have to pay attention to the as is comps. Now I think it's vitally important in West Virginia, probably more so than anywhere else in the country, that you understand what the as-is comps are in comparison to your property and make sure that you are buying at an extreme discount. Again, disposition buyers are going to be few and far between and they're going to want their deals at an extreme discount. So anytime you get that lead, you can't underwrite this deal like it's in another state where 70% of ARV minus repairs might work out. It's just not going to work. You will get your teeth kicked in when it comes to West Virginia.

Speaker 1: 6:14

Overall, west Virginia is the 39th most populated state, coming in at a population of 1.79 million people. Now, the thing about the population in West Virginia, talking about the cities, is that it's pretty much spread out across the state Could be a good thing, but when it comes to wholesaling it's also a negative, because what you will also receive is leads all over the place in the state. It's not like the majority of your leads are going to be coming in in Charleston and Huntington and Morgantown. They're literally going to be anywhere and everywhere in the state and you're going to have to broaden out your range in the timeframe to be able to comp this deal. So, across the board, west Virginia just brings a ton of issues. So in my personal opinion, I view West Virginia as the worst state to wholesale in. That's my personal opinion.

Speaker 1: 7:14

I have also purchased properties and owned properties in West Virginia and I've felt the low median income. I have seen tenants not be able to pay their rent and I've also seen the drug issues that go on in West Virginia. I've had properties riddled with drug issues called the cops, not received any support from there. There are issues with owning real estate inside of the state as well as wholesaling. Now, because of the issues that come along inside West Virginia highly motivated sellers, pretty picky buyers, a lack of buyers in some areas and rural locations creative finance is a bigger part of the West Virginia real estate market than it is in majority of states. The reason why is because these sellers are going to be so motivated, they are going to be willing to work with you and pretty much take anything that they can get. So the four units that I have owned in West Virginia, I did buy seller finance during the 2020 50-50-50. I bought them, I owned them. They were tenant occupied, immediately had to evict several tenants. Like I said, we had issues with drugs, vandalism, all sorts of issues with that and eventually, the only way that I could sell those four units was seller financing myself, and I had to do that on a land contract.

Speaker 1: 8:44

One of the other things I want to talk about in regards to West Virginia is there was a bill that was proposed. It was introduced on March 18, 2025, and it was to ban wholesaling. The bill summary was the purpose of this bill is to create the West Virginia Abolishment of Wholesaling Act, and then it provided all the definitions of what wholesaling was, and it's, by all definitions, what we consider wholesaling real estate. It actually died on April 12th 2025. And I actually just searched and said what happened to this bill and it was introduced in March it died in committee. The bill progressed 25% but did not advance further. It was a partisan bill with a 3-0 Republican majority, and the bill was introduced in the 2025 regular session of the West Virginia state legislation the 2025 regular session of the West Virginia state legislation. So they actually introduced a bill to try to ban wholesaling.

Speaker 1: 9:53

And what's crazy about this is when you think about what states need wholesalers more than anything. To me, it's the lower income states the Mississippis, the Lusianas, the West Virginias because these properties are distressed, real estate investors need to be coming in and fixing these properties up. The majority of landlords and flippers are not great at marketing to motivated sellers because they're focused on their actual jobs, which is taking care of these properties, getting them rehabbed, getting them tenant occupied, taking care of their tenants. Wholesalers have a place and we support these motivated sellers. And, just like I said, west Virginia lacks in buyers.

Speaker 1: 10:48

West Virginia has an overabundance of motivated sellers. Leads are commonplace inside of West Virginia, especially in comparison to the population inside of the state, and so to me, I believe it's ludicrous that the state even contemplated outlawing and banning wholesaling. But, just like I've said, outside of other regulations and talking about the states that are trying to come down hard on us. This falls on our shoulders as wholesalers. The fact that it's such a motivated state that needs us felt like they should ban us and outlaw our services that we provide to the community is outlandish. It falls on us and we have to do better. We have to do better Now.

Speaker 1: 11:43

Thankfully, the Republicans of West Virginia killed this bill and there is no regulation inside the state of West Virginia as of today, which is fantastic for us. That being said, there are still a ton of hurdles that you have to overcome inside the state of West Virginia. The opportunity that exists here is that if you can build that relationship with a known end buyer inside of West Virginia, it can become a honey hole for you because there are sellers that need us. So, as a community, despite the fact that West Virginia is extremely difficult today, we can find the opportunity service these homeowners by providing them a solution if we take the time to find the end buyers inside the state of West Virginia. So for those of you that are watching this, if you are an end buyer I hope there's at least a couple of you please leave your contact information in the comments so the wholesalers can reach out to you, because we need more of you guys inside of the state of West Virginia.

Speaker 1: 12:57

It is extremely difficult for us to find you when you go on to InvestorLift and InvestorBase. It's a very limited amount of you guys, so we need to know who are the end buyers in the Mountaineer State. Leave your contact information below so we can all reach out to you and we can better the state of West Virginia Overall today one of the worst states, but thankfully it's not outlawed, it's not banned. We can still do deals in West Virginia. So please, if you're an buyer, let's do some deals together. Let me know if I missed something in the comments, let me know if you agree or disagree and in buyers, leave your contact information. Show me some love like today's video. We'll see you guys tomorrow.