San Diego, what kind of market is it?

[Chris Dot]

San Diego, 1.3mln people, 60-70 F average temperature, one of the biggest cities in USA. 

I'm moving to San Diego on Sunday the 7th. I would love to get in touch with people from the area as I want to start wholesaling.

What interesting would you say about the market over there? Is there a lot of competition among wholesalers and investors? What kind of strategies work well here? Flipping? Wholesaling? Maybe buy & hold? Is there anything special about approaching investors? How do sellers negotiate? What is the most popular property type?

[Chris Dot]

That's what I thought about San Diego being saturated. Property prices don't really interest me as long as I can wholesale and earn on it. Does that matter whether the asset cost is $100k or $500k? It's not me who is going to pay final price anyway.

Bigger problem that I'm kind of expecting is working on tight spreads, very strict rehab rules (=high standard = high rehab cost) and difficulty of finding motivated sellers. On top of that I can imagine super deals are gone in minutes or hours after showing up on the market.

Now about the niche - I'm very relaxed here. I wouldn't look for something special for me. I can start with the simplest and the most basic stuff, e.g. SFR or apartments wholesale. I prefer to master simple deals over sophisticated engineering. And as a newcomer to the country I would prefer to start with well-known and easy stuff.

My advantage is diligence and honesty; I can admit my failures, learn on it and apologize if needed. On top of that I'm not looking for get quick rich, I don't mind working hard. That's something I think Californian market might be missing and should give me small advantage over other players.