All Forum Posts by: Pedro Plascencia

My interest and focus at this point is distressed and underperforming commercial real estate. I realize I probably need to narrow it down some more and am working to see what niche within commercial I enjoy the most.

I have been debating and trying to figure out what would be the best way to go, either to operate as a real estate scout and put deals together without the use of the license, just attorneys, or if I should go ahead and just operate as a broker (if it's even an option at this point since I do already have the license). Your thoughts?

I'm want to put together and implement a winning marketing plan and could use some advice from seasoned commercial real estate professionals.

I live in California, and have a background in construction management (residential & commercial), land development, and recently got my real estate broker license. I'm developing my ability to valuate properties through study and practice with local properties. My goal is to help bring together investors and distressed commercial real estate.

I've had conversations with others in the industry who are out looking for properties daily, and put the deals together when they find properties that fit the criteria of the investors their working with for a 3% finders fee. They also offer project management and construction management services for their investor clients at an hourly rate or agreed upon fee if necessary. This is what I want to do.

What is this called? Is this technically wholesaling? I'm very interested in doing this and am wokring on putting together a quick business plan and need help with winning marketing strategies.

I know I need to get out, look at and analyze properties daily and have a list of properties in my area I'm interested in. I also know I need to be talking to people who might know of properties as well as investors. The big question is how to get in front of investors interested in commercial real estate from $1-$50 million. What can I do to meet such investors, convince them there's value in what I want to do, and look for properties specific to their criteria? Who are these investors and where do I find them?

By the way, I've checked and there aren't any real estate investment clubs in my area. I've considered starting one.

I want to keep it simple but I also want to knock it out of the park.

Any help and suggestions would be great.

Thank you guys for the good advice. I see your point. This really helps. I'll consider real estate investing my second job, and will build on it that way until I'm able to transition to it full time.

I definately don't want to put myself in a situation where I'd be making decisions out of desperation and end up turned off to the real estate business as Curt suggested could happen.

I'm brand spanking new to real estate investing and wholesaling (although I've been studying and learning for years without much action). I am reading everything I can on BP when I can. I'm at a point financially where I can afford to go all out for about two months, but will run out of savings at that point if I'm not starting to get some cash flow coming in.

I have other work I can get into, but figure this can be my opportunity to spend the time I know is needed to make money in real estate. If I get into the other work I've been thinking about, I would only have about 10-15 hours a week to invest into real estate, as opposed to 40-60+ a week if I dedicate myself to real estate.

My question is, how real is this wholesaling strategy, and how long can one expect to start seeing some cash flow? I'm not trying to "get-rich-quick" and don't expect it to be easy, but I'd much rather be working hard at this then the other options I've been thinking about.

I know I'd need a plan and could really use some help putting together a realistic plan that will get me to a point where I could be cash-flowing $3K+ a month before long. I'm in California (Central Coast) and frequently travel to Southern California.

Anyone know of a REIA in or near San Luis Obispo, CA? I looked around online a few months ago and found two out of San Luis Obispo. I've called them several times and left messages but haven't heard back. One posted their meeting date, time, and location. A friend went to the meeting but it was a ghosttown (no meeting at all). Now, I've looked them up again and I'm not seeing either listed. The closest is in Santa Barbara.

I'm considering maybe starting one up myself, but am not sure how yet.

BTW - My question is in reference to either residential or commercial properties, or both. Also, should I focus on one first as I get started, them move into the other?

I'm new to wholesaling and investing, although I have enough of a background and have been studying it for a while and understand much of it; just haven't done it.

I've been self-employed for a few years now and work has slowed down to nearly nothing. We have enough savings to get us through about 2-3 months. I'm at a point where I can make the decision to jump in full force into wholesaling and into other type of deals.

I'm curious. Realistically, how long does it take a newbie working at wholesaling, marketing, making calls, and making offers full time and them some to start making money? My other option is to start another business doing contracting and repair work full time, and begin wholesaling part time in the afternoons & evenings. It seems that the more time and focus I'm able to put into wholesaling, the better chance I might have for success. Don't want to end up dry in the water either.

Anyone successfully wholesaling residential or commercial real estate in Southern Callifornia or the California Central Coast?

I'm new to investing and wholesaling and am interested in finding a coach/mentor to learn from and get a good start.