Kyle Greenwood
Kyle Greenwood has been a guest on Collecting Keys, the real estate investing podcast hosted by Mike DeHaan, Dan Austin and Dylan Koch, 2 times.
The Perks of Wholesaling In Small, Rural Markets w/ Emma & Kyle Greenwood
Emma and Kyle Greenwood run a wholesaling business across four rural counties in North Idaho, marketing to towns under 10,000 people. They break down their numbers — roughly $15,000 in total marketing spend, five deals closed, wholesale fees from $10,000 to $50,000, and about $176,000 gross year-to-date — plus how they split acquisitions and dispositions as a husband-and-wife team working 20 to 30 hours a week.
Key takeaways
- Small rural markets can produce a cost per deal around $1,200 because most sellers aren't talking to any other investors, which means less competition and lower acquisition costs.
- Direct mail drives nearly all their leads, with about 80% of their list coming from driving for dollars — Kyle rides his bike through entire towns with a printed map and marker, covering a full town in a day or two.
- Dispositions are harder in rural areas because there are no big institutional buyers; you have to find the one local investor in each town and sell them on the deal, and your numbers have to be better to pull city buyers two hours out.
- They partnered 50/50 on their first flip (five houses on one parcel requiring a survey and city approvals) — giving up half the profit was a lifestyle decision to avoid managing a rehab they had no experience with.
Wholesaling an RV Park: A Deal Case Study w/ Emma & Kyle Greenwood
Emma and Kyle Greenwood walk through how a handwritten letter to a small list of RV and mobile home park owners in North Idaho led to a $500,000 contract on a 10-space RV park, and why they chose to wholesale it instead of keeping it. They explain the due diligence process for an unfamiliar asset class, how buyer feedback pushed them to renegotiate for seller financing, and how the $50,000 assignment fee funded marketing and their next project.
Key takeaways
- A niche list can be tiny and still work: they had the title company pull RV and mobile home park owners, hand-wrote about 30 letters, and got a call roughly two months later.
- Get the offer signed the same day. They brought the paperwork (and a six pack) to the sellers rather than leaving a verbal number open for other buyers to beat.
- When every buyer gives you the same objection, take it back to the seller. Repeated requests for seller financing led the sellers to offer terms: $150,000 down and $2,000 a month.
- Seller financing solved the cash problem on a $500,000 rural deal that buyers couldn't make work with hard money; the assignment fee was tacked onto the down payment, so the buyer brought $200,000.