Im very new to wholesaling and I have some questions for some of you who have been doing this for a while
I live in southern California where the properties are quite expensive and imagine the competition is stiff here! Can someone please tell me if it is advisable to wholesale in areas not close to where you live? How do you find out what markets aren’t heavily saturated? Do I just start by trial and error?
Is there a book that anyone can recommend I read to learn about this. i really am determined to make this work for me and my family! Im tired of the corporate rat race and am pursuing this in the hopes of eventually creating more time for me and my family!!
Thanks!
Bee
Hi,
There is a very competitive southern California market especially along the coast. Take a look at San Bernardino and Riverside Counties as there has been good potential wholesale properties found with great profit potential.
Since you live in southern California it makes sense to operate in your back yard!
GR
I agree with Gold River, I’ve sometimes had to drive 50 miles to do some deals to get deals going. I think that’s still my back yard.
I know there are lower income areas in Southern Cal, esp in LA and Riverside etc, the inner city areas are ripe for wholesaling.
And not just the junky houses, there will be a good percentage of sellers in distressed situations that you can take advantage of, (I mean, help out of a bad situation).
I recruit bird dogs in the nearby towns, they do most of the work and are very happy to get $2,000 in cash for a finders fee.