Wholesaling On Market Properties: The Overlooked Strategy for Real Estate Profits

When most real estate investors think about wholesaling, they immediately picture off-market deals. Direct mail campaigns, cold calling, or driving for dollars dominate the conversation. But there’s another option that’s often overlooked: wholesaling on market properties.

This strategy uses properties already listed on the Multiple Listing Service (MLS) or other public platforms. While many wholesalers assume there’s no room for profit on market deals, that’s simply not true. Done correctly, wholesaling listed properties can bring fast profits and help you stand out in a crowded market.

One investor who proved this point is Ramon Bestances. On his very first wholesale real estate deal in 2020, he earned $17,000, and the property came directly from the market. His story shows that opportunities exist in plain sight if you know how to work them.

How Ramon Closed His First On-Market Wholesale Deal

Ramon didn’t stumble into wholesaling blindly. Like many beginners, he first started researching real estate on YouTube. Wholesaling stood out as the “gateway drug” into investing because it requires little upfront capital and can produce big returns.

Instead of chasing off-market leads like most wholesalers, Ramon decided to test on-market properties. He submitted about 30 offers before finally getting one accepted. With just $100 down and a standard realtor’s contract, he secured the property and then assigned it to a cash buyer. The result? A $17,000 assignment fee.

This approach runs counter to what many wholesalers preach. Conventional wisdom says you need to go off-market to find motivated sellers. Ramon proved otherwise. Profitable deals exist on the MLS, you just have to be willing to make offers consistently until one sticks.

Why Wholesaling On Market Properties Works

Some investors dismiss wholesaling listed properties because they assume competition is too high. But in reality, many wholesalers ignore MLS deals completely. That creates an opportunity for investors who know how to spot value.

Here’s why this strategy deserves more attention:

• Lower marketing costs: Instead of spending thousands on mail or cold calls, you can use free MLS access through a realtor.
• Speed to contract: Sellers with listed properties are already ready to sell, which can cut negotiation time.
• Plenty of supply: The MLS has new listings daily, giving you constant deal flow to review.
• Great for beginners: Using standard realtor contracts makes the process straightforward for newer investors.

The key is volume. You may need to make dozens of offers to land one deal, but the profits can be worth it.

Relationships Are the Secret Ingredient

Ramon didn’t just find a deal; he had a cash buyer ready to purchase it. Building relationships with buyers was critical to his success.

Here’s how he did it:

• Attended local real estate investor meetups
• Collected business cards and followed up regularly
• Met buyers for coffee to build trust
• Asked detailed questions about what properties they wanted

One buyer even gave Ramon a spreadsheet tool to analyze rehab costs, after-repair values, and profit margins. That made it easier for Ramon to target deals that fit his buyer’s exact criteria.

To successfully wholesale market properties, focus on your buyer list as much as your deal sourcing.

Learning from a Flipping Failure

Before finding success in wholesaling, Ramon tried a fix-and-flip project. It took six months, caused endless contractor headaches, and only netted $3,000 profit.

The general contractor rarely showed up. Subcontractors were unreliable. Payment requests didn’t match completed work. Ramon quickly realized flipping was too time-consuming and risky compared to wholesaling.

That experience pushed him to double down on wholesaling. While he occasionally undertakes light rehabs (such as painting and carpeting), he prefers assigning deals to other investors for quicker and easier profits.

Why Driving for Dollars Became His Best Strategy

Although Ramon started with on-market deals, he eventually combined strategies. He moved into cold calling high-equity homeowners and driving for dollars.

Driving for dollars ended up being his most effective system because it uncovered distressed properties that weren’t yet listed. But Ramon found a way to integrate it with his full-time insurance job:

• He ran the DealMachine app on a spare phone in his car
• Between client appointments, he added distressed properties
• He focused on lower-income neighborhoods where he already worked
• He sent direct mail to property owners automatically

This created what Ramon calls a “side hustle on autopilot.” He didn’t have to quit his job to build a profitable real estate business.

Building Wealth Beyond Wholesaling

Ramon treats wholesaling as both a cash-flow business and a wealth-building tool. All of his wholesale profits go into a separate business account. Once he saves enough, he buys rental properties using the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat).

This strategy has allowed him to build long-term wealth while still enjoying life. Last year, he treated himself to a trip to Greece, which was paid for by his real estate profits.

For Ramon, wholesale real estate isn’t just about quick checks. It’s about using those checks to build a portfolio that generates passive income.

Three Keys to Wholesaling Success

Ramon believes anyone can replicate his success with wholesaling on market properties if they focus on three essentials:

1. Build a strong property list: Whether through the MLS, cold calling, or driving for dollars, consistent lead generation is non-negotiable.
2. Maintain buyer relationships: Knowing exactly what your buyers want helps you submit offers with confidence.
3. Take consistent action: Submitting 30 offers may sound exhausting, but it’s often what it takes to land a profitable deal.

As Ramon says:

"As long as you do your activity, there’s no way you could fail."

Final Takeaway

Wholesaling on market properties is a powerful but underutilized strategy. While most wholesalers chase off-market leads, the MLS can be a goldmine for those willing to make offers and build relationships with buyers.

Ramon’s journey proves that even with a full-time job, you can wholesale listed properties, earn substantial profits, and reinvest those profits into long-term wealth. If you’re serious about real estate, don’t overlook the deals hiding in plain sight.

Frequently Asked Questions

How can someone wholesale a property that’s already listed on the market?

You can wholesale on-market properties by using an assignable purchase contract. Secure the property at a price that leaves room for profit, then assign it to a buyer for a higher price. The difference is your assignment fee.

What makes driving for dollars more effective than other lead generation methods?

Driving for dollars helps you spot distressed properties before they hit the market. These owners are often highly motivated and haven’t been contacted by dozens of other investors yet.

Can wholesaling be done as a side hustle while working full-time?

Yes. Ramon is proof. By creating systems that fit into his daily routine, he wholesales part-time while keeping his full-time insurance job.

Is wholesaling on market properties competitive?

Yes, but that’s why persistence matters. Many wholesalers avoid MLS deals altogether, so consistently submitting offers can give you an edge.