Wholesaling in Southern California

[Tarquinn Curry]

Does anyone whole sale in the Los Angeles County Area?  I've been listening to different youtube videos and podcasts about wholesaling and it appears that everyone does them in other states where there seems to be a bigger  supply of surplus homes and dead and dying areas where wholesaling would seem to work. It would appear that in coastal areas like Southern California where it is so expensive and less supply of homes that wholesaling would be much more difficult.  I could be totally wrong.  I am barley learning about wholesaling.  Maybe it would work in an area like the Inland Empire.  Does anybody have any insight into this? I am looking into getting into wholesaling.  I would just appreciate some wisdom from people who wholesale in the Southern California region. -Thanks 

[Max Gradowitz]

Not to discourage you, but 95% of people that consult me about wholesaling in SoCal end up never completing a single wholesale transaction. I've had so many people have me form an LLC for them, provide them with purchase and assignment agreements for their deals, refer them to wholesale-friendly escrow companies, etc only to never find a wholesale lead in the first place. Just giving you the reality of what I see.

It's not that it's an expensive market, it's not the supply of homes, it's simply that SoCal is an over-saturated market for investors.  You can't really compete with the people that have been mass mailing using thousands of dollars and many years of followup going towards snatching all the off-market deals in the SoCal markets.  Many of them can perform themselves and don't even need to wholesale to an end-buyer, so people in distress prefer that anyway.