San Diego, CA · Member since 2013 · 36 posts · 22 votes
Hi local San Diego wholesalers and investors,
I am a local San Diego real estate broker seeking a wholesaling mentor. I plan to start with bandit signs and or direct mail. I am motivated to invest time and effort into an effective strategy and learn from good professionals who understands the local San Diego market. I can certainly open to offering assistance or joint venture with an experienced wholesaler. Please let me know if your interested for a win / win situation.
@John Reardon - not sure why others on this thread are giving you a hard time about wholesaling. Wholesaling can often be more lucrative and less painful than being a broker or agent. Todd Toback is a buddy of mine from San Diego and one of the better wholesalers in that market. No idea if he is interested but you should reach out to him. Good luck. I am a wholesaler, rehabber and agent. I have been involved in over 4,000 real estate transactions and some of the easiest and most lucrative deals I have done have been wholesale deals. Take care!
I am interested in continuing to grow my brokerage business however want to get closer to the investor side of the business. I tend to be risk adverse and thought that wholesaling would be a good area to start getting involved in deals before I considered buying investment property for myself. My short goal is to purchase a 2-4 unit and live in one. Wholesaling might also help me accomplish that goal. I have yet to find a suitable property on the mls.
@John Reardon I can see where your coming from,however, you have a brokers license! Don't demote yourself to the likes of "wholesaling". Did you attend a seminar or something? Nevertheless, locate an agent who is an investor and that's who you want to find. That way, you can build your brokerage business, while learning from an investment broker about doing deals to transition. Or, just Go buy something and that's the best way to learn. If you combine all of the aforementioned, that's a powerful combo - less the idea of wholesaling. You paid good money and went through a lot of education for that license - go use it. They should call it a license to print money, considering this market. Good luck
@John Reardon Again I must try to clarify - are you a licensed Real Estate Broker? Did you work as a REALTOR sales agent for several years and then obtain your brokerage license?
Your profile says something about having 3-5 "brokerage deals" the terminology I don't think means in this industry exactly what you may think it means? You also mentioned not finding wholesale deals on MLS, which makes perfect sense since by their nature they're off market deals and wouldn't be on MLS. This is nothing to be worried about at all - there are people of all experience levels here and this is a great place to come and learn all this stuff.
If you haven't obtained your real estate license I highly recommend you do that first. It's a whopping 60 hours of classroom instruction. You'll come out with some industry terminology, know several other Realtors starting out in their careers and the whole this is paid for many times over when you buy that first house. Additionally, I think when you get equipped with knowledge, even in a brief structured way, it builds a foundation onto which you construct your future learning.
I suspect if you aren't licensed and get one you won't be interested in wholesaling anymore. Do you picture yourself running around in the middle of the night 10 years from now replacing any bandit signs that got picked up at various intersections around Southern California, going to meet with people when they are at a weak moment in their lives and working them out of the equity in their homes so you can line your bank account?
Incidentally I am not a licensed realtor. I got into real estate investing after having success in another industry, but it's a path I recommend to people who are trying to find their way.
@John Reardon - not sure why others on this thread are giving you a hard time about wholesaling. Wholesaling can often be more lucrative and less painful than being a broker or agent. Todd Toback is a buddy of mine from San Diego and one of the better wholesalers in that market. No idea if he is interested but you should reach out to him. Good luck. I am a wholesaler, rehabber and agent. I have been involved in over 4,000 real estate transactions and some of the easiest and most lucrative deals I have done have been wholesale deals. Take care!
I echo Brad's commentary, I am a lawyer turned full time real estate investor and primarily focus on wholsale deals. Wholesale real estate investing can be lucrative once you have a system and team in place.
I agree with Christopher Leon. My experience with wholesalers has been dismal over many years. Are you a licensed real estate broker? Are you only looking in San Diego county? Pm. I have some ideas for you.
@Brad Chandler I am not far from you in Frederick, MD. I'd be honored to meet up most of the way to you around say Rockville to buy you lunch or dinner and get the chance to learn about the legitimate side of wholesaling. I know there is a legitimate side to it, pretty rare to see it but it's out there.
I'd never recommend somebody trade in their real estate broker's license to become a wholesaler. The confusion in the language comes from the fact that what I see wholesalers doing is in every sense brokering a sales contract. Of course they can't call themselves brokers because they're unlicensed and it would definitely be illegal then. The wholesaling work I know of all pretty much resembles the definition of "broker."