What are So Cal investors up to?

[Ryan Alacon]

Hi, I’m located in Southern California and, as many other investors out here, can’t find any good deals locally. I’ve played with the idea of investing out of state but being a first time investor I have many reservations. Also, I do have a 9-5 job so managing an out of state property in person would be difficult. Just curious to see what other Southern Californians are doing. Hibernating till a correction in price? Investing out of state? Still buying locally? Partnering with out of staters? Sold properties and all in on bitcoin? 😁

[David Friedman]

Hi Ryan,

There are winners and losers in every type of market, including a down market. Buying the deal right is more important than the timing is what I am trying to say.

I'm from Los Angeles and I just found a good deal in San Diego that I am going to buy to fix, but not flip (Keeping it for my brother to live in). I found this deal off of the MLS, which is pretty rare, but it can be done. In this case, there was a tenant in the property stalling the sale of the deal. The agent couldn't show the property to any potential buyers. Because I was consistent, as soon as the tenant left, the agent reached out to me first. No one else realizes that this property is available again and most have quit trying to make an offer on it.

If you aren't finding deals, you need to increase your network (More wholesalers and more real estate agents) and you need to be consistent. People like to work with other people that are consistent. They'll give you first shot at a deal because you follow through on what you say.