San Diego, CA · Member since 2013 · 8 posts · 0 votes
Hi to you all!
I just recently moved back to sunny San Diego and after reading a TON of books and trying to educate myself in real estate I took a mental plunge and I am ready to get started in this business. I am a newbie but a fast learner:)
I have been talking to few Realtors in the area and they all seem to tell me one thing; there is no inventory!
Well I would love to hear some input from people that live and do business in this area. I would probably want to start with wholesaling but any tips would be awesome!
Thanks for taking time to read it and hope we can get in touch soon!
My personal email address is [email protected] if you would like to reach out like that
Rental Property Investor · San Diego, CA · Member since 2011 · 1k+ posts · 1k+ votes
13y
Welcome!
What makes you want to start with wholesaling?
Thankfully we have access to Redfin here which makes zillow obsolete so Paul's advice was spot on just redfin isn't available everywhere but its the best there is if you don't have MLS access.
We have NSDREI (Meets next week) SDCIA (met this week) and FIBI San Diego (1st Thursday of the month) all are great resources.
San Diego, CA · Member since 2013 · 8 posts · 0 votes
13y
Hi Tim!
I signed up with all the groups you mentioned and I am attending some meetings soon!
Wholesaling seems like a good start for me to get some experience , gain some capital and get hands on experience with real estate. at least that's how I feel about it. maybe there are better options out there for me so if you could throw some ideas at me. I am just starting out so any info is like gold to me :-)
Investor · Fort Lauderdale, FL · Member since 2013 · 919 posts · 607 votes
13y
Sebastian, take whatever advice a Realtor gives you with a grain of salt. They always insist it's a sellers market, regardless of what the facts are. So of course you will be told that inventory is nonexistent. Translation: buy today and make full price offers!
As for getting started, wholesaling is a heck of a lot more difficult than we are led to believe by the gurus and geniuses pushing their crap. How many homeowners are willing to sell you their house for .35 on the dollar? Not too many.
Instead, look at options and lease options as your entry into this business. Much easier, in my experience.
San Diego, CA · Member since 2013 · 8 posts · 0 votes
13y
Hi Michael,
Thanks for a tip about the Realtors. I guess it makes sense for them to try to sell right away . As far as wholesaling I know a lot of people are trying to sell it as a really easy to start out and make really good money in real estate ( been to few guru seminars ) but I understand the tremendous amount of time and leg work I would have to put in to see some results.
Options and lease options is something I just heard of recently and was wondering if you could give me some more info or direct me towards a legit learning source so I could learn more and see if its something I could do over here in San Diego
Investor · Fort Lauderdale, FL · Member since 2013 · 919 posts · 607 votes
13y
By the way, I am not anti-Realtor at all. I've got a number of Realtor friends and contacts who are knowledgeable and professional. But for many, the lure of earning a commission weighs over everything they do. Can't say I blame 'em for pushing.
As for lease options and San Diego, I see no reason why this strategy wouldn't work. If there are sellers, there will be motivated sellers. If there are buyers, there will be buyers who are a good fit for a Rent To Own type of setup. Your key, of course, is knowing the product and marketing.
Solo 401k and SDIRA Consultant · Orange, CA · Member since 2013 · 874 posts · 498 votes
13y
My advice: start listening to the podcasts. @Joshua D. and Brandon Turner interview people that are very good at their particular niche. When you hear one you like start doing research on that niche. I download them and listen while driving to and from my 9-5 so no extra time is needed. For me after listening to podcast 28 with Dave Van Horn, note investing is what I've decided to focus on. Btw, Welcome to biggerpockets @Sebastian Nogacki
San Diego, CA · Member since 2013 · 8 posts · 0 votes
13y
Hi Dennis!
I am in OB . R u signed up for any of the investors clubs in the area? What kind of RE investing are you doing or planning on doing? I decided to get my RE license , so currently I am studying A LOT! and looking for my first investment property meanwhile ( I am thinking a 2-4 unit I could live in a rent out others out ).