Advice for a Newbie

Real Estate Agent · Orange County, CA · Member since 2024 · 36 posts · 23 votes

Hello I am new to the investing industry and have been reading/listening to podcast and reading forums. I went on Craigslist today and found the post attached. I decided to reach out. He responded with

“Hello this is Felipe wholesaler in Orange County
Nice to hear from you hope your event went well

I have motivated cash buyers
That love places in distress or properties that aren’t listed in the market”

I’m wondering how legit this is if he is a wholesaler and truly has buyers he is working with. Should I meet this person over coffee? Any advice would be appreciated..before I meet a stranger from Craigslist

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Nicholas L.Pro Member

Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes

@Stephanie Flores

hi, happy to help but not sure what to say here. just to be blunt, you're asking random people on the Internet... if you should meet another random person that you found on the Internet. i cannot vouch for Felipe either way as i do not know him nor the market.

are you going to meetups? That's a great way to meet people in real estate. if you meet someone in person that 5 other people you know have vouched for that is pretty solid.

what are your goals?

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Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
1y
@Stephanie Flores
hi, happy to help but not sure what to say here. just to be blunt, you're asking random people on the Internet... if you should meet another random person that you found on the Internet. i cannot vouch for Felipe either way as i do not know him nor the market.
are you going to meetups? That's a great way to meet people in real estate. if you meet someone in person that 5 other people you know have vouched for that is pretty solid.
what are your goals?
7 Reply
Jonathan GreeneBusiness Member
Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
1y
Craigslist wasn't safe 20 years ago and it still isn't safe. I wouldn't trust anything real estate-related on Craigslist and would not meet anyone for coffee. If you wouldn't go on a Craiglist date, don't go on a Craiglist real estate appointment. There are SO many better ways.
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Mark MunsonBusiness Member
Lender · Orlando, FL · Member since 2022 · 440 posts · 300 votes
1y
Hi @Stephanie Flores
Wholesalers run campaigns called "Agent Outreach" to get access to your sphere of influence and, ultimately, any pocket listings/distressed properties you may have. Everyone has cash buyers, you can buy the data and skip trace it and call cash buyers all day long. He needs properties and connecting with agents is a very low cost way to get properties, as Realtors are trusted sources for motivated sellers and naturally get deals brought to them. So if he can form a relationship with you, it may pay off when you get a distressed property that isn't suitable for a traditional sale, you'll call him. This is neither good nor bad; and many times can be profitable if they are a legitimate wholesaler with a real track record of wholesaling. However, the bar to be a wholesaler can be hurdled by an ant, so tread lightly and certainly don't think he has the best interest for your clients looking to sell their homes at heart.
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Stephanie Flores
OP
Real Estate Agent · Orange County, CA · Member since 2024 · 36 posts · 23 votes
1y
Quote from @Nicholas L.:

@Stephanie Flores
hi, happy to help but not sure what to say here. just to be blunt, you're asking random people on the Internet... if you should meet another random person that you found on the Internet. i cannot vouch for Felipe either way as i do not know him nor the market.
are you going to meetups? That's a great way to meet people in real estate. if you meet someone in person that 5 other people you know have vouched for that is pretty solid.
what are your goals?

Great point! I went to a meetup last night and made some connections. I'll stick to that and avoid Craigslist. My short-term goal right now is to become a resource for investors looking for properties in my area. I want to build some solid partnerships and learn as much as I can by doing and not just reading forums. Eventually long term I would like to own short-term rentals in my area
4 Reply
Stephanie Flores
OP
Real Estate Agent · Orange County, CA · Member since 2024 · 36 posts · 23 votes
1y
Quote from @Mark Munson:

Hi @Stephanie Flores
Wholesalers run campaigns called "Agent Outreach" to get access to your sphere of influence and, ultimately, any pocket listings/distressed properties you may have. Everyone has cash buyers, you can buy the data and skip trace it and call cash buyers all day long. He needs properties and connecting with agents is a very low cost way to get properties, as Realtors are trusted sources for motivated sellers and naturally get deals brought to them. So if he can form a relationship with you, it may pay off when you get a distressed property that isn't suitable for a traditional sale, you'll call him. This is neither good nor bad; and many times can be profitable if they are a legitimate wholesaler with a real track record of wholesaling. However, the bar to be a wholesaler can be hurdled by an ant, so tread lightly and certainly don't think he has the best interest for your clients looking to sell their homes at heart.

Thank you for the insight! I will keep this in mind, much appreciated
0 Reply
Stephanie Flores
OP
Real Estate Agent · Orange County, CA · Member since 2024 · 36 posts · 23 votes
1y
Quote from @Jonathan Greene:

Craigslist wasn't safe 20 years ago and it still isn't safe. I wouldn't trust anything real estate-related on Craigslist and would not meet anyone for coffee. If you wouldn't go on a Craiglist date, don't go on a Craiglist real estate appointment. There are SO many better ways.

I definitely would not go on a Craigslist date! Fair point!
1 Reply
Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
1y
@Stephanie Flores
can you house hack?
0 Reply
Stephanie Flores
OP
Real Estate Agent · Orange County, CA · Member since 2024 · 36 posts · 23 votes
1y
Quote from @Nicholas L.:

@Stephanie Flores
can you house hack?

I don't have the capital right now to buy anything that requires a down payment. If I can continue as an agent and help investors find properties I can save up enough cash to buy and house hack. Do you think that is the right step?
0 Reply
Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
1y
@Stephanie Flores
saving up enough for a down payment to house hack is definitely the right step. but when you say "help investors find properties," do you mean in your capacity as an agent? Or some other way?
0 Reply
Sherri Orlando-Dominguez
Real Estate Investor · Fountain Valley, CA · Member since 2016 · 10 posts · 1 vote
1y
Hi Stephanie, I’m an investor in Orange County as well. Truth is you probably don’t need to meet in person. Zoom would be sufficient, less time (driving time) and more productive for both of you. Meetups are the best for meeting people of all trades in Real Estate and it’s a safe environment.
1 Reply
Stephanie Flores
OP
Real Estate Agent · Orange County, CA · Member since 2024 · 36 posts · 23 votes
1y
Quote from @Nicholas L.:

@Stephanie Flores
saving up enough for a down payment to house hack is definitely the right step. but when you say "help investors find properties," do you mean in your capacity as an agent? Or some other way?

Yes as an agent, I am looking to build trust and partnerships with investors to help them achieve their portfolio goals by using my market knowledge and tools that I have as an agent. I guess become an Investor Friendly Agent. I know I have a lot of work to do to prove myself as a valuable resource but I am going to do the work, I'm just trying to figure out the right steps. Hence why I was on craigslist lol
0 Reply
Stephanie Flores
OP
Real Estate Agent · Orange County, CA · Member since 2024 · 36 posts · 23 votes
1y
Quote from @Sherri Orlando-Dominguez:

Hi Stephanie, I’m an investor in Orange County as well. Truth is you probably don’t need to meet in person. Zoom would be sufficient, less time (driving time) and more productive for both of you. Meetups are the best for meeting people of all trades in Real Estate and it’s a safe environment.

Good idea, I prefer that to be kidnapped at a coffee shop, thank you for the advice Sherri!
1 Reply
Charles Perkins
Member since 2024 · 222 posts · 161 votes
1y
There are several ways to add value to RE investors. One is talking to investors at RE meetings, reading what investors say they look for in an agent here on BP.
An important thing I consider is an agent's knowledge of the communities I'm looking into. Things like the demographics of the area, crime, ages of property, history of the area, known property disputes, etc all help. Often agents have been in many of the homes in the area this can be helpful sometimes.
Basically you are looking for how to add value and how are different from other agents. Later when you have begun investing yourself you may have other ways to help investors.
2 Reply
Diran Deukmajian
Contractor · San Diego, CA · Member since 2024 · 43 posts · 27 votes
1y
I would advice against it. There's a higher risk of being scammed on deals like that. Even meeting in person, they can act like a straight up investor until they hook you in and take your money. Acting like a good person is easy for scammers.
In my business, as a kitchen contractor, I meet "investors" who want to partner up all the time. More horror stories than success stories. Luckily I kept my distance and focus more on the traditional ways of making money.
1 Reply
Brad S.
Investor · Pasadena, CA · Member since 2017 · 612 posts · 523 votes
1y
Regarding if this is legit. Maybe, but It is most likely just a fishing post from an inexperienced investor, to add to their list of deal suppliers. Maybe they learned of this CL technique in an investing program or something. This is not how most reputable, experienced investors do it though. They already have the connections or reach out directly to agents to make connections. They also know how to source deals themselves. Your best source of connections in the real estate investing world are right here on BP, through other realtor referrals, and from meetups and investment groups.

As a newbie, it is easy, and common, to head down multiple paths chasing shiny bright objects, with many of those paths just leading to time wasting and increased experience in learning what you don't want to do. Best advice is to keep exploring aspects of the RE investing world and decide which feels right and best for what you want to pursue. Then focus on those aspects and learn as much as you can about those. And do your best not to let the lack of resources dictate your focus or goals. I have done many deals with my experience alone and little or none of my own cash. "If you find it, they will come." Meaning, the most important part of a deal, is the deal itself, if you have a deal, the money will appear. I know that's simplistic, but it is true.

By, the way, that CL post was from an Anchor Loans deal in Sherman Oaks back in 2017. It is very unlikely it has anything to do with the person who posted in CL. Very easily found with a Google Image search. https://www.instagram.com/p/B-xDg-Kj8T6/
1 Reply
Logan Lambert
Lender · Kingsville, MD · Member since 2023 · 103 posts · 35 votes
1y
Quote from @Stephanie Flores:

Hello I am new to the investing industry and have been reading/listening to podcast and reading forums. I went on Craigslist today and found the post attached. I decided to reach out. He responded with

“Hello this is Felipe wholesaler in Orange County
Nice to hear from you hope your event went well

I have motivated cash buyers
That love places in distress or properties that aren’t listed in the market”

I’m wondering how legit this is if he is a wholesaler and truly has buyers he is working with. Should I meet this person over coffee? Any advice would be appreciated..before I meet a stranger from Craigslist

Hey,
I have connected with a lot of random investors on the internet and would encourage to jump on the phone with them first and ensure as best as possible they are legit and not a scammer. I would absolutely encourage you to get out to local investor meetups.
0 Reply
Max Wilhite
Member since 2024 · 225 posts · 86 votes
1y
Glad to have you here on BiggerPockets! This is the perfect place to connect with like-minded people, gain insights, and grow in your real estate journey. Don’t hesitate to dive into the discussions, ask questions, or share your experiences. Excited to see what you’ll bring to the community!
1 Reply
John Ma
Investor · Arlington, VA · Member since 2014 · 151 posts · 37 votes
1y
Quote from @Stephanie Flores:

Quote from @Nicholas L.:

@Stephanie Flores
saving up enough for a down payment to house hack is definitely the right step. but when you say "help investors find properties," do you mean in your capacity as an agent? Or some other way?

Yes as an agent, I am looking to build trust and partnerships with investors to help them achieve their portfolio goals by using my market knowledge and tools that I have as an agent. I guess become an Investor Friendly Agent. I know I have a lot of work to do to prove myself as a valuable resource but I am going to do the work, I'm just trying to figure out the right steps. Hence why I was on craigslist lol

Easiest way to get your investor buyer clients inventory is connecting with all the wholesale shops in your area, and connect buyers to sellers.
Some of the seasoned buyers will already be on the wholesalers' mailing list, and thats fine, but there will be many that have no idea what wholesaling is and you're bringing them value by exposing offmarket inventory to them.
0 Reply
Stephanie Flores
OP
Real Estate Agent · Orange County, CA · Member since 2024 · 36 posts · 23 votes
1y
Quote from @Charles Perkins:

There are several ways to add value to RE investors. One is talking to investors at RE meetings, reading what investors say they look for in an agent here on BP.
An important thing I consider is an agent's knowledge of the communities I'm looking into. Things like the demographics of the area, crime, ages of property, history of the area, known property disputes, etc all help. Often agents have been in many of the homes in the area this can be helpful sometimes.
Basically you are looking for how to add value and how are different from other agents. Later when you have begun investing yourself you may have other ways to help investors.

Thank you Charles for the tip! I appreciate the feedback
1 Reply
Stephanie Flores
OP
Real Estate Agent · Orange County, CA · Member since 2024 · 36 posts · 23 votes
1y
Quote from @Diran Deukmajian:

I would advice against it. There's a higher risk of being scammed on deals like that. Even meeting in person, they can act like a straight up investor until they hook you in and take your money. Acting like a good person is easy for scammers.
In my business, as a kitchen contractor, I meet "investors" who want to partner up all the time. More horror stories than success stories. Luckily I kept my distance and focus more on the traditional ways of making money.

Good point Diran! I went on fastpeoplesearch.com and looked up his number. He is 27 years old so I am sure he is new to this. I did not end up meeting with him. It doesn't help me if we both don't know what we are doing lol
1 Reply
Stephanie Flores
OP
Real Estate Agent · Orange County, CA · Member since 2024 · 36 posts · 23 votes
1y
Quote from @Brad S.:

Regarding if this is legit. Maybe, but It is most likely just a fishing post from an inexperienced investor, to add to their list of deal suppliers. Maybe they learned of this CL technique in an investing program or something. This is not how most reputable, experienced investors do it though. They already have the connections or reach out directly to agents to make connections. They also know how to source deals themselves. Your best source of connections in the real estate investing world are right here on BP, through other realtor referrals, and from meetups and investment groups.

As a newbie, it is easy, and common, to head down multiple paths chasing shiny bright objects, with many of those paths just leading to time wasting and increased experience in learning what you don't want to do. Best advice is to keep exploring aspects of the RE investing world and decide which feels right and best for what you want to pursue. Then focus on those aspects and learn as much as you can about those. And do your best not to let the lack of resources dictate your focus or goals. I have done many deals with my experience alone and little or none of my own cash. "If you find it, they will come." Meaning, the most important part of a deal, is the deal itself, if you have a deal, the money will appear. I know that's simplistic, but it is true.

By, the way, that CL post was from an Anchor Loans deal in Sherman Oaks back in 2017. It is very unlikely it has anything to do with the person who posted in CL. Very easily found with a Google Image search. https://www.instagram.com/p/B-xDg-Kj8T6/

Wow, thanks Brad- this is super helpful for me. I appreciate you and the advice. "And do your best not to let the lack of resources dictate your focus or goals" That is exactly what I needed to hear.
0 Reply
Charles Perkins
Member since 2024 · 222 posts · 161 votes
1y
Quote from @Stephanie Flores:

Quote from @Charles Perkins:

There are several ways to add value to RE investors. One is talking to investors at RE meetings, reading what investors say they look for in an agent here on BP.
An important thing I consider is an agent's knowledge of the communities I'm looking into. Things like the demographics of the area, crime, ages of property, history of the area, known property disputes, etc all help. Often agents have been in many of the homes in the area this can be helpful sometimes.
Basically you are looking for how to add value and how are different from other agents. Later when you have begun investing yourself you may have other ways to help investors.

Thank you Charles for the tip! I appreciate the feedback
There are a lot of experienced investors and professionals here you can learn from.
0 Reply
Stephanie Flores
OP
Real Estate Agent · Orange County, CA · Member since 2024 · 36 posts · 23 votes
1y
Quote from @Logan Lambert:

Quote from @Stephanie Flores:

Hello I am new to the investing industry and have been reading/listening to podcast and reading forums. I went on Craigslist today and found the post attached. I decided to reach out. He responded with

“Hello this is Felipe wholesaler in Orange County
Nice to hear from you hope your event went well

I have motivated cash buyers
That love places in distress or properties that aren’t listed in the market”

I’m wondering how legit this is if he is a wholesaler and truly has buyers he is working with. Should I meet this person over coffee? Any advice would be appreciated..before I meet a stranger from Craigslist

Hey,
I have connected with a lot of random investors on the internet and would encourage to jump on the phone with them first and ensure as best as possible they are legit and not a scammer. I would absolutely encourage you to get out to local investor meetups.

Thanks Logan! I have a few local events I have signed up for, definitely going that route instead
0 Reply
Stephanie Flores
OP
Real Estate Agent · Orange County, CA · Member since 2024 · 36 posts · 23 votes
1y
Quote from @John Ma:

Quote from @Stephanie Flores:

Quote from @Nicholas L.:

@Stephanie Flores
saving up enough for a down payment to house hack is definitely the right step. but when you say "help investors find properties," do you mean in your capacity as an agent? Or some other way?

Yes as an agent, I am looking to build trust and partnerships with investors to help them achieve their portfolio goals by using my market knowledge and tools that I have as an agent. I guess become an Investor Friendly Agent. I know I have a lot of work to do to prove myself as a valuable resource but I am going to do the work, I'm just trying to figure out the right steps. Hence why I was on craigslist lol

Easiest way to get your investor buyer clients inventory is connecting with all the wholesale shops in your area, and connect buyers to sellers.
Some of the seasoned buyers will already be on the wholesalers' mailing list, and thats fine, but there will be many that have no idea what wholesaling is and you're bringing them value by exposing offmarket inventory to them.

Thanks John! When you say local wholesalers is that information easily found?
0 Reply
Jack Schwartz
Member since 2023 · 111 posts · 35 votes
1y
I wouldn’t recommend spending time with a 27-year-old who already has a long list of investors. It makes more sense to seek out an honest and experienced real estate broker in the surrounding area, rather than directly in that specific location. He might go behind your back. and never do business with a stranger without references. By the way, Craigslist can be a hotspot for scams, so be cautious. Real estate agent meetups aren’t always the safest either; if you hook up with a smart crook, they can steal your deals. It’s wise to attend a few meetups just to listen and observe. Once you identify trustworthy individuals, then you can proceed.

Best wishes and best of luck on your journey!
0 Reply

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