DOES WHOLESALING STILL WORK IN CALIFORNIA?

As the great Matt Larson stated on a livecast back early last year... IF A HOUSE WAS BOUGHT FOR CASH IN YOUR TARGET AREA IN THE LAST 30 DAYS, WHOLESALING IS STILL ON A POPPIN! I think it was a livecast from Feb 2013 if I'm not mistaken when he was explaining the 25:1.

Regards....

Just curious, who told you wholesaling doesn't work any more?

Come on .... who told you that an agent? a bank officer? must have been the guy that never bought a house before? I live in santa Barbara county and I do it all the time.... Short sales that I stopped after they were forclosures . That would be a short sale wholesale.... Well I termed that one..lol 35k on a bank one last year, 11k this past april, the list goes on here, so yes they are still hot if you work at it..Good luck NOW GO GET SOME

Dont put any importance in what others say that are not qualified to speak. Yes wholesaling is alive and well & can be done anywhere. I am in San Diego & am working on a deal right now should be close to getting a wholesale deal here in sunny So Cal.

Being in Palm Springs/Riv area you can get even more distressed sellers out there since the values are lower & there is less competition. As a matter of fact I could use a good bird dog out there, I have buyers for your area so pm me your info ok

Thanks a lot for everyone's responses and encouragement. This gives me a lot of hope now. This website is a great tool for REI knowledge. Thanks again!

keb64,
Thanks for the reply. A so called Realtor that specializes in Commercial & Residential RE Acquisitions/Dispositions for REI Cash Buyers/Investors, told me that RE Wholesale does not work! Also another RE Professional told me that sellers will not want to work with a RE Wholeseller, because they will only want to work with a Licensed Realtor. This RE Pro also told me that "RE Wholesaling" can potentially be illegal, and that I should consult with a RE Attorney!

I used to live in Thousand Oaks, Ventura County. There, sellers only want to work with Licensed Realtors only. They think that RE Wholesaling is "illegal" and didn't like the fact that I did not have a RE License. Either way, my only credential is my B.S., Degree in Business...lol. Do you guys think that getting a RE License will increase my credibility when approaching potential sellers? I would appreciate the feedback. Thanks again!

Regards,

Not in Riverside county, but just in Palm Springs alone in the past 90 days, there were 41 all cash purchases by investors. If your seller is truly motivated, it won't make a difference if you have a license or not. Bottom line is, can you solve their problem.

most importantly read the comments under the video. i say no to a license. to each his own. https://www.youtube.com/watch?v=7vS9basu8uc

WALT

Tony,
Thanks a lot for your feedback. You are right, I will not listen to people who "don't think outside the box". It's good to know that RE Wholesale is still alive in Southern California. You are correct about the PS Area. I will PM you so we can get in touch! Thanks again and take care.

Regards,

TRSD,
Thanks for the feedback. You are correct, if the seller is truly distressed/motivated, it really won't make a difference. I also see RE Rehabs done in the area, so that explains those 41 "all cash purchases" by REI Cash Buyers/Investors. Thanks again and take care!

Regards,

I completely understand how you feel because I have been there before. When I first started investing in RE as soon as I came across Dean infomercial last year. I had a lot of negative thoughts which gave 100 reasons why wholesaling won't work for me in my local market in Miami.

Long story short, I was able to subdue that spirit of fear and doubts in me and I currently 100% focus in Miami area.

I hope it helps and good luck in your REI business.

My favorite Quote Of Today: "Press on. Nothing in the world can take the place of persistence"- Ray Kroc

When someone says California, I tend to ask where in California? This is not only a big state, it is also a very diverse state. From the desert to the sea to the mountains fluctuation in prices and demand is as varied as the climate. Instead of a broad approach, I would suggest concentrating in a specific geographical area of the golden state.

NATCHEZ MISSISSIPPI,
Thanks for the input and for the video link.

Regards,

tcmiami,
Thanks for the input. Yes, I was frustrated at first, because where I used to live in Thousand Oaks, California, all sellers seem to only rely on "Licensed Realtors" no matter how distressed their property is. I guess every area in California is different. Congratulations on your RE Biz in Miami. Take care!

Regards,

CaREI,
Thanks for the input. California is a very large state with lots of different people and RE Markets. What works in the California Desert may not work in San Diego. I will entirely concentrate in "my neighborhood", like DG mentions. Thanks again and take care!

Regards,