Investor · Greensboro, NC · Member since 2020 · 96 posts · 73 votes
4y
Al,
I'm not sure that the BEST deals are from auction or wholesaler. Those can be great deals, but don't pigeon hole yourself to thinking those are the only good options. Some of my best deals came from just talking to strangers and networking. I try to tell EVERYONE I meet that I'm an investor. But to answer your questions:
1) Google "cash home buyers Los Angeles" or "Sell my house fast LA". Many of those website that come up will be investors and potentially wholesalers. Click through the sites and find some that are looking for buyers.
2) When you say another way to get cheaper properties, do you mean other than wholesaling or auction? Yes, you can find good deals that aren't auction or wholesale properties. It's not ALWAYS about the price, sometimes it's the terms that make a great deal. Try to source your own leads. Join an investors group locally, do direct mail, put an ad somewhere, and tell everyone you know you're looking to buy properties. Do your research on creative financing options. The more problems you can solve, the more money you'll make.
Investor · Greensboro, NC · Member since 2020 · 96 posts · 73 votes
4y
Al,
I'm not sure that the BEST deals are from auction or wholesaler. Those can be great deals, but don't pigeon hole yourself to thinking those are the only good options. Some of my best deals came from just talking to strangers and networking. I try to tell EVERYONE I meet that I'm an investor. But to answer your questions:
1) Google "cash home buyers Los Angeles" or "Sell my house fast LA". Many of those website that come up will be investors and potentially wholesalers. Click through the sites and find some that are looking for buyers.
2) When you say another way to get cheaper properties, do you mean other than wholesaling or auction? Yes, you can find good deals that aren't auction or wholesale properties. It's not ALWAYS about the price, sometimes it's the terms that make a great deal. Try to source your own leads. Join an investors group locally, do direct mail, put an ad somewhere, and tell everyone you know you're looking to buy properties. Do your research on creative financing options. The more problems you can solve, the more money you'll make.
Los Angeles, CA · Member since 2021 · 46 posts · 9 votes
4y
To piggy back on Matt, Buying a property through a wholesaler or an auction isn't the best thing to do. Most of the wholesalers are selling to a tight buyer list to whom they trust, and they've done business with. Most auctions are saturated by investors who will scare you away since you will be new to the auction. Truthfully, if you want to find a deal here in LA, you must tell everyone and their moms that you buy Real Estate.
You can go to Local Meets, Ask agents if they know any wholesalers in the area, and even call those bandit signs that LA is saturated by.
If you have a car and some spare time, you can drive for dollars, skip trace the owner, and call the owner of the property you found while driving for dollars. The type of properties you can jot-down while driving for dollars are ugly homes, messed up roof, high grass, mailboxes full, doesn't take the trash out on trash day, and a lot of those factors that you may see someone to sell their home for a discount.
You can even tell people, to encourage them, that you'll give them $1,000 if they bring you a motivated seller, and you purchase the property off the seller, and close, then you will give them $1,000 and boom you found a cheap home (possibly)
Real Estate Broker · Los Angeles · Member since 2014 · 57 posts · 40 votes
4y
Hi! I'm a very active wholesaler/investor/broker in LA. Most of the deals we wholesale to our investors, they crush our ARV's...sometimes by 100's of thousand of dollars. I'd recommend rather than driving for dollars ($7/gallon here in LA LOL), get on as many wholesale lists as possible. Track them for a few weeks/months, and you will be able to identify which lists are worth spending time on etc.