Finding Solid Investors in Los Angeles Area

[Ronnie Giery]

Hey All!

I am fairly new to the wholesaling market and am looking to grow my contact list of investors to wholesale to. I primarily work in the South Bay area of Los Angeles. With this post I am looking for investors or good tips on how to grow my contacts of investors. Any advice will help! Thanks, Ron

[Mark Nolan]

@Ronnie Giery

Welcome to Bigger Pockets. Consider sending messages to other members for specific guidance.

[Victor Argueta]

building a buyer's list is the easy part. in SoCal and specially the south bay, locking in an opportunity is the challenging part. Once you have an opportunity, look up all cash buyers in the area of the subject and contact them. And of course, there are active investors here on BP as well. 

[Jose Reyes]

Yes. Building an investor buyer list is easy. The hard part is finding out who is actually serious and who has money. 

In Los Angeles you have a ton of investors. But finding the real investor that makes the final buying decisions and actually has the money to pull the trigger is roughly 1/10...that's my guess. 

Your easiest source to find out who is legit is contacting some hard money lenders (good hard money lenders), they have bonafide investors that have actually closed deals. The other would be to contact listing agents of homes that are currently on the market that are flipped, or have recently closed. Everyone is looking for a deal. If you have one, finding an end buyer in LA is very easy. 

[Account Closed]

You've most likely heard this before, but: "if the deal is good enough, the money will find you."

Other than that I see you're from Hermosa which is close to my neighborhood and I recommend you check out the REI in Manhattan which is called FIBI South Bay. You can find details on Meetup.com and they amlost always have great deals and great information. Before every talk everyone networks so I imagine you will find interested buyers there.

Best of Luck.

[Josie Roman]

Make sure your numbers are well-rounded. That is a constant challenge for wholesalers. It won't help your reputation if you start off by sending out a seemingly good deal that is actually not so good and an investor would have a hard time breaking even when they look at the property. 

Take into account that prices in the South Bay are high to begin with, so an investor has to put more on the table per deal. Some of us look carefully at high end deals because we like to spread our risk.

[Linda Cheng]

@Josie Roman

Hi Josie, 

I'm currently looking for a rehab project, and would love to be on your contact list.