Finding Motivated Sellers in CA

General Real Estate Investing
1

I have been educating my self about a year. I have taken wholesale and lease option classes from the RE pros, had a mentor for a few days, and am reading forums and articles. I still feel stuck and don’t know how to get my first transaction done.

I have tried building my RE investor database first. They were interested at the beginning but did not take any action because they didn’t want to invest so much $ at this time. Then I have found properties out of state. Then the response was it was too far.

Now I am thinking of locating a property before I find an investor. Previously, I have advertised, put up signs, did street farming, and told around what I do… all I got was Short Sales. Negotiation with the banks took too long and my investors backed out.

How can I find motivated sellers in CA with equity? I don’t want to invest and go through marketing again because I might need to relocate but I will be still in CA. What would you do if you were in my shoes?

2

Not sure what your goal is. Wholesaling? Fix and Flip?

The answer is that there is no equity in CA. The motivated sellers are the banks. There’s a ton of REO deals out there. Get 'em while they’re hot!

3

I agree in CA it is about REOs right now. With REOS you don’t need to spent money and more importantly time marketing.

What part of CA are you looking in?

4

I am located in Orange County. My goal is both wholesaling and fix & flip.

I have tried REOs but I ran into 2 issues: banks did not allow assignment (I guess I can do double closing) and proof of funds. The banks are soooo picky these days. The banks (at least the ones I worked with) want to see the cash in the bank. I have found investors but they are afraid to show proof of funds…