looking to network with wholesalers and investors in So Cal

[Cody Hahn]

I am new to Biggerpockets and Real Estate Investing, looking to network with other wholesalers and investors in the Orange County and Inland Empire areas. Any advice for a new wholesaler in the area? Looking to invest full-time and make lasting partnerships and friends.

[David Faulkner]

Originally posted by @Cody Hahn:

@David Faulkner Thanks for the advice, It is my understanding most buyers are looking for 60%-70% of ARV, is this generally correct? Also, to find ARV, I know Zillow is not the most reliable way to find comps, would you recommend working with an agent in order to be as precise as possible?

@Joe Homs I would like to chat with you Joe! I think I should be heading in your area this up coming week, ill message you a little later if that's ok.

@Polar Prutaseranee Thanks for the help man! I look forward to chatting with you in the future! Ill be looking for properties in those areas.

@Jo-Ann Lapin Thanks for information, I will definitely look into it. I am near Irvine all the time.

If you find 60%-70% of ARV in SoCal, you would be a rock star ... you are in a much more competitive market than most, and Real Estate is highly localized. 70%-80% and you should be ok for wholesaling here ... if you can get it for less, all the better, but it would be very tough. I see some flippers (who would be your buyers) pick stuff up for up to 90%, even 100% if they are newbies and don't know what they are doing (newbies are not the type of clients you should target IMO) ... I personally wouldn't, but that's what I've seen. Zillow is ok for sold comps if you have the knowledge to properly comp stuff out, just don't use Zestimates. MLS is best ... yet another reason to get a license. Oh, and wholesaling can be done in many, many ways ... some are ethical and some are not ... some are legal and some are not. So, be sure you thoroughly research and understand the laws and look at the transaction from all sides (not just yours) for ethics.