Staring out in California

3 Replies

Hey guys! Wanted to introduce myself name is Isidro...i am from California, i recently got offered an opportunity to get into the real estate investing by my landlord...he has been doing this for about 15-20 years and offered me to work with him...basically i find/generate him leads...he puts 100% of his money, we buy homes cash, if i work on rehabbing he will pay me an hourly rate, and in the end he gives me 40% of the profits...sounds like a fair deal to me since i have 0 liability, i am not using my own money and he is an experinced investor. With that being said if you guys have any tips for beginners on how to find the homes, generate leads, what websites i could use i would really appreciate it. Thank you guys in advance i look forward to reading your comments.

Hi Isidro, there are many ways to generate leads. Some cost money and others cost time and "hustle."

If you have no money, you could try door-knocking. People who door-knock typically find a neighborhood they want to invest in, look for run-down properties and knock on the door to ask the owners if they'd consider selling.

If you have some money, another way to target potential sellers would be to get a list of pre-foreclosure addresses or addresses of absentee owners (people who own property in California but live in a different state). Then you could do some direct mail in which you send letters or postcards to properties that are on your pre-foreclosure or absentee owner list.

You could also drive the neighborhoods you're interested in, write down addresses of houses that appear to have deferred maintenance and send letters to those addresses as well.

Good luck on your investing journey!