All Forum Posts by: Kurt Michaelson

I belong to 4 different real estate networking groups and have mentioned to those that I have met in those groups that I am a wholesaler and no one has ever said that wholesaling real estate in CA was illegal.

I would look up the Inland Empire Real Estate Investment Club in Riverside, via meetup.com (https://www.meetup.com/Inland-Empire-Real-Estate-I...). They can make some good recommendations for you. 

Todd Bayer is the co-founder of the group and very personable too.

I would recommend reading The Book on Investing In Real Estate with No (and Low) Money Down: Real Life Strategies for Investing in Real Estate Using Other People's Money by Brandon Turner, if you haven't read it yet, you should. 

What are some of the books about real estate investing that you've read so far? Self-education is important and if you love to read, then you need to get a good education about real estate investing and reading books about this is where you're going to learn how to do it right.

What type of investing are you looking to become involved in, i.e., single family homes to fix and flip, buy & hold as a rental, wholesaling, multi-family rentals, etc...

I would also recommend finding a local real estate investment group via Meetup.com and join those groups, so that you can meet some new people, learn to network and learn from those who are more experienced in real estate. How many people could you currently contact to get some help in your real estate investing efforts? I'm not looking for a number from you, but for you to consider the effectiveness of your ability to be connected with other investors to make your efforts and opportunities profitable for yourself and for others. Does that make sense?

Above all of that, I think you've got to determine why you want to invest in real estate. What do you want to accomplish through it? Why do you want to be a real estate investor? What motivates you to enter this field?

All the best to you, Jose.

I would consider establishing a budget for what you've saved and determine how long that money will last you while you fully dive into real estate investing. Have you formed a budget yet? How long will that money last while you're going all in?

Another thing to consider is that however you plan to market to certain types of properties, there is a realistic time of 3-4 months before someone responds to your marketing, i.e., direct mail. Have you considered what direction you'll pursue regarding the types of properties you'll focus on and how you will market to them? How will that affect your budget?

I agree with the others that San Diego is a high priced market, but it's not impossible to succeed. I got lucky and found a vacant house in Pacific Beach that the owner wants to sell ($1M), and I have not had any responses from my emails or direct mail to him. I found that property 2 months ago.

As @Dave Rav said, wholesaling is tough, especially in San Diego and I can attest to that because I was there for the past year. (I've moved back to Southeast Texas as of yesterday, but if my financial situation were in a much better position and I had a much better job to help support my real estate investing efforts, I'd probably still be there).

In addition, as it has been suggested, join a real estate networking group and begin to introduce yourself and get to know others who are investing in the San Diego area. You can find a few groups on Meetup.com like the San Diego Investment Club, SD Outback Real Estate Investor Network, or the SD REI Social.

Lastly, what will you do if you haven't closed a deal and you've exhausted your funds? What will you do next? That might be something to consider as your Plan B, if Plan A doesn't work out as planned because everything doesn't always go as we think they should. 

All the best to you, Adam.

As @Lynnette E. said, if you're a licensed real estate agent, you have to follow a certain set of guidelines, if you're attempting to represent a homeowner who is selling their home. If you're wanting to simply wholesale a property, then a real estate license is not required. 

I have not read that wholesaling is illegal in the state of CA, for if it were, then it would be widely known and not allowed by any escrow, title company, or real estate attorney involved in a real estate closings.

As far as education goes, there are a number of BP podcasts to listen to and books to read, to help gain the knowledge you need to grow and succeed. Just know that you'll make some mistakes along the way, but it's those mistakes that teach you and help you to improve as a real estate investor and entrepreneur.

Also, wholesaling is a lot harder than some people realize, but if you're passionate about achieving your goals and always keep those in front of you, then you'll succeed and be an encouragement to others.

All the best to you in your real estate endeavors in 2019 and beyond.

Excellent! My wife and I will be heading back to SETX in a few weeks. We'll be in Groves for a little while, but I'll be looking for properties to wholesale wherever I go.

All the best to you and your endeavors.

Excellent, congratulations @Daniel Krantz! Thank you for such an encouraging testimony of your success.

5 subdivided residential lots in San Dimas, CA., located at 217-233 W Commercial St. 

$270K each. All 5 must be purchased at one time. 

Contact me if interested. (1% Finders Fee not included)

Thanks @Brian Juris. One of my buyers may be interested in that. Could you send me some more info about it to me? 

Thank you @Mike Jacobson. Coming up with a creative financing strategy is one I need to improve. I appreciate your feedback, sir.