All Forum Posts by: Edward Kim

your'e right ahaha I didn't think about the demographics either. thanks for the heads up, It looks promising just looking at the size of the groups!

@Joseph A Gonzales thanks I was shying away from facebook but I'll give it a try!

@Stephen Morton read if you cant wholesale after this then i got nothing for you

basic tldr is 1. find a title/escrow company/attorney

2. make a buyers list

3. find sellers

you want to have everything set up before you find houses so that everything goes smoothly and you know what criteria your buyers would want. cuts down on a lot of the guesswork

I want to make sure I've created a buyers list before I look for distressed sellers.

I've started posting craigslist ads but it seems a bit limited since you can only post an ad per 48 hours. I imagine meetups are not happening anymore or not optimal given the whole covid situation. That would have been my go-to method originally.

Other ideas are going to foreclosure auctions and hitting up some buyers, although it may still be a bit iffy since people might want some social distancing. 

Other ideas I've heard is to hit up people on social media like linked in and through hashtags on instagram.

Does anyone have any other ideas? Thanks!

a ghost ad is when you post saying you have a house for sale when you really don't. this would attract cash buyers whereupon you would tell them "sorry, just sold". it's just bad practice because it's deceitful and you're wasting peoples' time

on a similar note, what's the best way to post multiple times on CL? I read you can only do 1 per 48 hours, do people just create multiple accounts?

My parents' house in California is currently far into the foreclosure process (via 2nd lien holder), and we have a lot of equity from the 1st mortgage. Due to many complications, we fell into default with the 2nd lien holder and owe 170k and are facing foreclosure, set to be sold in auction soon. Is there any advice on how we can remain in our home and keep the house through creative deals with investors? The key is that we maintain title so that we can eventually pay off the loan. So would this be working with note investors who buy our debt?

TL;DR Should I wholesale or get a real estate license in Southern California with respect to an effort/payoff perspective knowing that it's a very hot market?

Hi BP, I'm a long time lurker in these threads and a budding investor trying to gain some capital so I can start investing in SFRs in the midwest. I'm currently located in Oahu moving back home to the surrounding Los Angeles area shortly. I've been looking forward to the idea of being able to find a bigger spread in both of these hot markets. Admittedly, I've struggled with taking action for a long time but have finally taken the leap not too long ago!

I've been driving for dollars here and have been struggling to obtain a distressed sellers list from certain local government agencies so that I can start cold-calling and wholesaling. The agency's unwillingness to help me though has me looking towards listsource and skiptracing companies to append phone numbers.

Once I get my first leads, I was thinking about possibly birddogging these properties just to build a relationship with the bigger players so that I could continue to ask for advice and properly wholesale my first deal, since it involves so much intricacies like accurately estimating ARV. In fact, I would probably do this (birddogging) for properties in Oahu in the case I get the list once I'm already in California as wholesaling long distance would be even more overwhelming.

I plan to continue this strategy once I'm in California. However, I wanted to know what BP thought about this topic. Whenever I look through wholesale threads there seem to be a good amount of people who strongly feel that this practice should be done through real estate agents. I understand why certain people feel this way from an ethical standpoint.

Some people also think "why bother going through the trouble of wholesaling" when you can get the same results from the agent commission.

So I'm basically curious about how people feel about this not only from an ethical standpoint but more so a practical standpoint. I'm not looking to screw people over with wholesaling and trying to do it right. 

Thanks BP!