All Forum Posts by: Walter Roby jr

I would find Real Estate Groups, Investors, and Agents who know these people in your area. Reach out to them, meet them, and offer to work for free until you gain experience, knowledge, and confidence to take the bigger leap in your career. Not sure where you are located but you do not need to be worrying about certifications or appraisals when flipping. Any top agent in your area can tell you what buyers like.

Simpli Safe alarms are great deterrents for the price, easy install, and you can move them to your next flip once you sell.

@Nick G. @Aleejandro Dela Vega @Alex J.

I currently wholesale in the valley. PM me and I can let you know what comes up.

Hi Gary Welcome.

As you know this is a very hot and tough seller's market. There is a lot of competition but that doesn't mean there is not opportunity. I would recommend that you listen to a minimum of 100 podcasts from each of the top 5 wholesaling ones out there to get an idea of what needs to be done to get on their level. Some to mention are Biggerpockets, Flip2Freedom, Wholesaling Inc, Simple Wholesaling, Flipping Junkie, and many more.

Attend many of the meetups in LA geared towards wholesaling, there are several. Get a simple business card (don't spend more than 2 minutes creating one) and introduce yourself to everyone and give them your elevator pitch.

Once you get the idea and scope that's required to be successful at this in this market, go knock on doors and cold call as many sellers as possible and get comfortable being uncomfortable and being told no. If you have the budget to start a marketing campaign, pick a list, and hit that list 5-7 times. On average it takes a wholesaler about $5k-$8k to get their first few deals or pounding the pavement 40-80 hrs a month.

I hope that gives you a good rundown and enough to spark your interest. There is a lot of money to be made you just have to want it bad enough.

W

@Chris Seveney I think I read somewhere that you are able to make a claim for it (being the lender/lien holder) if the homeowner never claims it within the allotted time. Assuming you were already paid your dues.

There are also many youtube videos on it. Also the pdfs of Hooked on Overage (google) should give you enough info to get your mind running. It's not as profitable as it used to be but if you are upfront and honest with the claimants and change your expectation to earn max $2500 on average then you might be able to use it to squeeze a few dollars out here and there.

@Arroyo Aaron google: hooked on overages

In Nevada you can have someone claim it for you as long as the finder's fees are disclosed and capped at 10% I believe. The counties then cut two individual checks to both parties. And per the California Revenue and Tax code, others can claim on one's behalf as long as the claimants have been informed of the source of funds, correct accounting distributions, and that they have every right to redeem the overages on their own at no cost from the given jurisdiction.

Been living here since '00. I agree with @Joseph Fang but to add, Simi Valley, Thousand Oaks, Santa Clarita, and even Palmdale are just around the corner with about as much of a commute effort to get to LA as anywhere in the valley. The proximity of those areas still remain as an option if prices in the valley get to inflated.