Wholesaling in Southern California

[Mike S.]

I wanted to start a thread specific to wholesalers in Southern Ca. because going though some old threads there are tons of BPers claiming they are getting started in wholesaling in the L.A. area and then they are never to be heard from again. As a rehabber I get deals emailed to me from wholesalers every now and again and there is only one group that actually structures deals that come close to making sense. Their basic strategy is to blast the MLS with lowball offers and flip the contract prior to close of escrow. I would estimate about 5-10% of the deals get closed the rest just fall out of escrow.

Anyways I am just curious to hear from successfull wholesalers in southern ca. how are you finding deals?

There have got to be a few that succeeded right?

[Reuben Stewart]

Wholesaling in SoCal can be tough....i haven't found the competition factor a set-back yet..if your really out in the streets, knocking on doors, at your court houses, county buildings consistently you find there are not as many wholesalers as you may think actively wholesaling.....there are quiet a bit of people talking and wanting to get in...i use the county buildings and the court houses for my leads...there are some really great untapped resources and tons of different types of leads you can get from those two places...and of course I have not discovered anything brand new...im just realizing the sucess is in the fight and how hard you want it...when i found out about these two sources i started to pull data from them and let me tell you it was overwhelming...but it was a gold mine...before i made enough money to pay someone to do this for me....i had to spend hours and hours and hours daily scrubbing data....finding address and owners names...etc...i have a system now and it runs smooth...i find some really great deals throughout LA County and Riverside County...I have 2 cash buyers that have bought all my deals...thats another important thing find real cash buyers...when i first started out i didnt have real buyers and i found out other wholesalers were acting as cash buyers just passing my deals on and on and it became a daisy chain leading to no where...Anyway i love wholesaling and i could type all day..if you want some creative ideas to find properties PM me....but dont give up...and don't let anyone discourage you about SoCal...its tough and it will literally make you cry....lol but its great place to start wholesaling...if your willing to put in the work...