Someone please help!!!!

[Joel Avignone]

I have been interested in real estate investing for about a year now. Specifically, wholesaling. But it seems to never work, I can't find good deals or good leads. Where do I look for leads? I don't mind paying for them but I can't find any! How do I know if I have a good deal or not? People tell me to crunch the numbers but what numbers do I crunch? Is there a formula to follow? Please help?? -Joel

[Ben Biggs]

Hi Joel, 

Long story short brother, there are no "deals", there are no "leads". This is San Diego, not Rural Ohio. Think about it, over 15,000 licensed agents absolutely combing every corner of the market daily, myself included. This is a PRIME market. We are right next to the best beaches and attractions in the world. The only "Deal" you're going to get is if someone in your family passes away and leaves you something, or you just get lucky and get the inside scoop from a friend who wants to sell. But you can't run a business that way. I get "deal packages" from "wholesalers" come across my desk on a a daily basis and the margins are laughable. This is the problem with Bigger Pockets, everyone is listening to the podcast/reading the site and hearing about people applying techniques that work in areas with more properties on the market and higher margins. Also we have the lowest inventory in the history of the market right now, so even clients that are coming in with solid offers and paying market values are getting beat out, usually with 3-4 offers on most properties. 

I truly hate to burst your bubble here, but Welcome to San Diego!