Wholesaling in California / San Diego

[Leonardo Cadenazzi]

I started wholesaling locally in San Diego back in June with the help of a friend of a friend that wholesales in AZ. We are not in contact anymore.

I am sending out direct mail to absentee owners, 1600 letters every 60 days. I found only one motivated seller and one owner that made two appointments, so i could look and the property, and never showed up. The one that let me visit the property told me on a second call to "hurry and up" because he is going to list with an agent in two days. I explained to him why going with me would be a better choice but he did not really care. On a third call i gave him the offer and he said "thank you ill let you know" and i hung up. The property was listed on the MLS a few days after.

That was almost 60 days ago, since then no more motivated sellers.

Here are my questions:

Has anyone in CA or San Diego experienced this lack of motivated sellers?

Realistically how long using only leads purchased on line, will take me to achieve my short term goal of wholesaling at least one property a month?

Any help is highly appreciated.

Thank you.

[Tim G.]

Its a numbers game. You need to mail, a lot.

Currently a large amount of people are using the same method as you. I think mailing 5k per month should net a deal. Also the number will get lower the better you are.

I honestly don't believe wholesaling is the best option for most sellers, it is a small percentage that will benefit from it in this market. So, you need volume and consistency to reach them.

It's all about volume, follow up and striking when the iron is hot. You hesitate for just one second and you've missed a deal.