All Forum Posts by: Cornelius Charles

@Will Sholy

Good point. Guess I was looking at it from the wrong perspective. I was purely looking at it from marketing, but I concur, systems, software, etc. could apply to any market.

Business has been poor for us in this area. We have only done 1 flip and that was 5 or 6 years ago. Luckily, we made more than enough to make up for the time/money we spent learning that our market was/is not really conducive to finding discounted properties to wholesale/flip. On the flipside, my wife was able to transition to a full time realtor along the way and she is doing pretty well with that. I've also recently started looking for properties to buy on a lease option basis. I'm gonna give that a shot for 6-9 months and then start looking at other markets if that doesn’t take shape.

You might want to specify this post for the market you're working in. My guess is whatever is working in an area like the Midwest, may not be as successful in Southern California.

Or you contact FSBOs and ask them if they would consider seller financing? Maybe far and few between, but if you make enough calls, i'm sure you'll find some. 

@Cami Bohn

IMHO, wholesaling is going to be very difficult with the current market conditions. It's still a strong seller's market, so there's not much reason for a homeowner to sell their house at a discount.  Of course there is going to be a homeowner here or there who just wants to sell and doesn't care about the money, but i would say that those are very far and few between. 

@John Duston

Please feel free to reach out if you need any help or have any questions about the area. 

@Nick Kobe

here is my favorite one in the area.

https://www.meetup.com/VCREIC/

@Conor Colburn

I'm not a realtor, but I'm pretty sure the Ventura County MLS has a search option for properties offering seller financing. If you're interested, i can confirm whether this is true or not with my wife, and then she could set you up with an automatic MLS search if you would like.

@Jonathan Cisneros

I don't know how viable a strategy wholesaling is in Southern California with the current market conditions, especially on a limited budget. If you do pursue wholesaling, I would focus on Search Engine Optimization (SEO). It can be done with a lot less money than other marketing strategies. However, you will not see immediate results as it takes time to rank highly in the search engines.

@Edward Kim

IMHO, the issue is not finding "distressed properties."  The issue is finding properties that you can buy at the price that you need to wholesale.  In the current market conditions, i'm not sure there is much reason for a homeowner to sell at a deep discount.  Yeah, i'm sure there is a case here and there where someone needs to sell "quickly" and doesn't want to put their home on the market, but i would guess those cases are a dime a dozen. 

@Ta-Sha Watkins

I would attend local REIA meetings to get a feel for what your market is doing? If it's a strong seller's market, trying to wholesale may be a frustrating effort. There's really not much reason for a seller to sell their home at a deep discount if they can list with a realtor and get it sold that way.

I also would set realistic expectations. I remember one new person who signed up on BP and told everyone that he wanted to make $10,000 a month wholesaling in Southern California within the next few months. To me, that is just setting yourself up for failure as that goal would be very difficult, if not impossible.