Real Estate Professional · Irvine, CA · Member since 2016 · 33 posts · 17 votes
Hey all, So as I network and meet more and more local investors, I've noticed a trend. Whenever I meet a local wholesaler, they are for the most part just starting out... closing 1-3 deals a year... but haven't really seemed to get a good momentum going. Also, every flipper I ask seems to not really be able to refer any wholesalers who are consistently sending them solid deals.
As a wholesaler who is just starting out myself, this on the one hand is comforting; it affirms to me that while there are many who are just starting out, such as myself, there is not that much real competition locally in that particular niche. On the other hand, it is somewhat disheartening, because I'm searching for people locally who are where I want to be in the next year or few years... people whom I can build a solid relationships with and learn from.
To be fair, I do know of at least one here in the OC, @Lauren Hardy. But I feel like there have got to be more. So my question is, where are they? Are you one? If not, do you know of any? I'm not just looking for those who operate in Orange County, but I'm looking for those who are based in Orange County, but are doing deals every month anywhere (Orange County, Riverside, Los Angeles, San Bernardino, Bay Area, and maybe even out of state.)
Flipper/Rehabber · El Paso, TX · Member since 2015 · 379 posts · 201 votes
10y
What's up guys. I am a wholesaler here in Las Vegas and it is very much alive. I have assigned properties in Arizona as well as Escondido, CA. The wholesale side of real estate is very much alive. It takes work to market to get to the sellers and negotiate a good deal, but we do about 2-3 wholesale deals per month. @Carlton Francis it's to find other wholesalers but what you need is sellers and buyers. Then your confidence will shoot back up. Anybody that it saying that this business is dead or too hard to do is in the process of quitting or quit already. I hope this response gives you the confidence you need to move forward. Reach out if you need help
Contractor · Los Angeles, CA · Member since 2015 · 4k+ posts · 1k+ votes
10y
To answer your question, there are wholesalers here that don't advertise themselves as such because of the stringent CA laws on the lines of RE Agent and wholesaling. I know a couple of wholesalers that started as such but have their license now, the goal for a wholesale is geared to get the cheapest for a property but if you have a license, you then have the obligation to disclose real figures to the owner. That is one thing that will prevent you from advertising, when you know the law. Now I am not an attorney nor a wholesaler nor a flipper, I am only sharing my personal experience and has no grounds if these statements are true or not. In any case, good luck on your journey and hope you WILL be killing it.
Investor · Pasadena, CA · Member since 2016 · 44 posts · 11 votes
10y
@Carlton Francis
Unfortunately, I think you should be disheartened. Wholesaling is a very tough business and very few succeed who start at today. That is what I have been told.
Flipper/Rehabber · El Paso, TX · Member since 2015 · 379 posts · 201 votes
10y
What's up guys. I am a wholesaler here in Las Vegas and it is very much alive. I have assigned properties in Arizona as well as Escondido, CA. The wholesale side of real estate is very much alive. It takes work to market to get to the sellers and negotiate a good deal, but we do about 2-3 wholesale deals per month. @Carlton Francis it's to find other wholesalers but what you need is sellers and buyers. Then your confidence will shoot back up. Anybody that it saying that this business is dead or too hard to do is in the process of quitting or quit already. I hope this response gives you the confidence you need to move forward. Reach out if you need help
I'm sorry that I can't speak specifically to your area as I haven't done deals there, but there are definitely those in the country who have made a business out of wholesaling. The trick for me was working hard to build trust with a handful of buyers who do a high volume of deals a year and building systems around what was working to produce results in a more efficient way.