Anyone Wholesaling in Los Angeles or Southern CA?

Anyone Wholesaling in Los Angeles or Southern CA?

Just Curious if anyone out there is wholesaling in my area. If so, What success have you had so far? According to my new Realtor .. anything that is listed below market value is receiving multiple offers and driving the price right back up making it difficult for wholesalers to come in and low ball the owners and have the offer accepted. I know there are TONS of desperate people here needing to sell .. but I fear there is too much competition here? Anyone else???

__________________


you are talking mls only?

You can use the 25:1 strategy and/or use other ways to bring leads. There's many ways to market for example bandit signs, flyers, business cards, magnets on ur car or cars, driving for dollars... ect.

__________________

yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called the "present."

"Be not afraid of growing slowly; be afraid only of standing still"


About to find....

...out whats really out their within the next few days. Surely, there are
more properties you haven't discovered yet. Keep searching. You can do it!!

Many Blessings


Cali deals

Hey mewdswing,

Cali is starting to turn around in some areas. I would suggest finding wholesale deals on sites like:

www.craigslist.com – under “HOUSING SECTION” click on “real estate for sale” then got to search box at top of screen and write in keywords such as: tlc, discount, wholesale, motivated seller, desperate, below value, handyman special, investor, equity, estate sale, etc……….

www.totalviewrealestate.com - click on step one “find it” and go through the entire page, check out all the links it refers to you.

www.myhousedeals.com
www.bid4assets.com
www.allwholesaleproperties.com
www.fsbitools.com
www.biggerpockets.com
www.connectedinvestors.com
www.mynextrehab.com
www.bigbrick.com

Hope this helps you all........

Thanks,
Shah


Your realtor speaks the

Your realtor speaks the truth. Here are a couple of posts from a So Cal investor club board

"7618 Topaz Lake, San Diego. ARV was about $430k. Listed at $285k. My client bid substantially over asking price, but still didn't get it. Broker later wrote to me that she got over 48 offers."

"So got 23 offers on the fixer upper at 497 Toyon Ave in San Jose. Turned down at least 8 offers where buyers wanted us to represent them, but they weren't willing to compete or come up in price. Of course most were all cash offers with no contingencies. Final accepted price was 9% over asking with an additional 1% contribution to the 2nd lender."

There is a lot of competition in major metropolitan areas in CA and margins are thin. You might do better in a market like Fresno, Merced, or Bakersfield. If you are going to wholesale in So Cal, you are going to have to be a networking machine and market your butt off. I know 2 investors who did 33 deals last year. Among other things, they sent out 88,000 pieces of direct mail. They are projecting 120,000 pieces this year. Regarding wholesaling, one of my buyers said..."Get your real estate license. You'll do 10 times more deals."


Modesto California..Cheap stuff sells too fast..

My area is starting to turn around also..Starter houses selling real fast.Anything on MLS that's under 100k has multiple offers.I need to get into the game NOW!I need someone to network with! PM me if you want to chat!


Bakersfield CA Homes Go Fast Too...

I agree with pinballdan. I invest in the Bakersfield CA area and they go like hot cakes. I even have friends who are agents asking me if I have any deals for his cash buyers. I told him it's competition all over the place. Just got to put your feet on the ground and keep looking high and low for deals.


Same

Seems to be the same thing going on in the bay area. Everything seems to have multiple buyers and knocking out anyone else.


I invest in Southern CA

And I've just infiltrated a new market and its going crazy right now as well. Multiple bids and the price investors are paying is going up from 80-85% of ARV to closer to 90-95% of ARV! I just bought a rehab house in Lancaster that I don't think I'd be able to buy anymore without an 'in' with networking. It really is crazy out here!

The KEY out here in Southern CA is
1.) Find OFF MARKET leads and deals
2.) NETWORK, NETWORK, NETWORK! Other investors are NOT your competition, they're your PARTNERS to help sell properties and to help them sell their properties. You all work together to make money in wholesaling out here.
3.) My success rate is 2 out of 42 deals (mine and other investors). This is because there is SO many other people doing it out here. Its actually only 1 out of 42, the 2nd one, although I successfully found buyers who put in offers that would make me money, and I held the contract, I'm not getting paid on it because this was a FSBO divorce and the wife is buying out the husband now. I'm working on improving that number 10 fold and I believe the success to doing that is off market properties. Find a niche. Offer what other people don't and you'll succeed.
4.) You have to be willing to be disappointed and pick back up after something doesn't go through. It happens a lot out here. That is why its so critical to network out here.
5.) Go out of area and do it from a distance. Much easier. If you can wholesale HERE, you can do it anywhere!

I prefer buy, fix and hold or buy, fix and flip here in Southern CA. I'm rebuilding a team in other remote areas for wholesaling (and other investmments) now. Smiling

__________________

Come and see my video! SEND ME AWAY 2011 WINNER!!!! http://www.deansmedia.com/play.php?vid=243
Follow my JOURNAL (journey) here: http://www.deangraziosi.com/real-estate-forums/investing-journals/99510/...
Checkout my websites: www.zionpropertiesandinvestments.com
Please come to my fb page and LIKE me: www.facebook.com/WeBuyHousesHonestly
“The way to get started is to STOP talking and to begin DOING!!!" ~Walt Disney
By humility and the fear of the LORD are riches and honor and life ... Proverbs 22:4.
SUCCESSFUL PEOPLE DO IT WITH A HEADACHE! (~Dean Graziosi)


great advise on Cali!

Hi! We are just getting in the game after being on the side lines for a few years. Thank you Tammy for the encouragement for the California market.
We are in Ventura County, and we are finding that there are numerous offers on properties, like you spoke about.
We will be looking for OFF MARKET deals and finding places to NETWORK.
We are also looking into auctions. Do you have any experience in that?
We are eager and any advise is greatly appreciated.

We also hope to buy, fix and hold!

Proverbs 3:5-6

Grade A Investments
CJ and Carol

__________________

Psalm 37:4-5

Delight yourself in the Lord; and He will give you the desires of your heart. Commit your way to the Lord, Trust also in Him and He will do it.


Los Angeles is a great market

I have 4 properties that my business partners are looking to sell... All in Los Angeles (Venice, Mar Vista, West Hollywood, and Arcadia).


Syndicate content