Wholesaling In San Diego, CA-Seeking Guidance & Honest Feedback

Wholesaling In San Diego, CA-Seeking Guidance & Honest Feedback

Rental Property Investor · San Diego, CA · Member since 2018 · 13 posts · 3 votes

Hey everyone. I'm fairly new to real estate, especially Wholesaling and I'm looking for any tips/advice you'd be willing to share. I'm from San Diego, CA and live in San Diego County and want to explore the option of Wholesaling in the area. I have a full time job at a tech company that offers SaaS but am looking to augment my income by becoming involved in Real Estate, in particular wholesaling. 

I am doing my research and am ensuring that I have all of the proper reports/forms/legal literature, valuation tools, etc and have several friends who are RE Agents & Loan officers whom I ask questions, BUT I am still lacking information in certain areas. My goal is to be as professional, efficient, helpful and reputable as possible when it comes to wholesaling. I don't want to be unprepared when it comes to responsibly/ethically connecting sellers and cash buyers on an all around "win-win" investment. 

Dilemma: I don't have a broker's license or Real Estate License. How much can/will this hurt me even if my processes are sound and I operate honestly with my sellers/buyers? Are there state/local legal factors in place that could preclude me from successfully practicing wholesaling in the area? 

Does anyone have any guidance for a first time wholesaler getting their feet wet in the industry in general? 

I have a decent grasp on the process of completing a wholesale deal from start to finish but need to start changing my theoretical knowledge into real world experience. 

Thank you in advance for any feedback/advice that you provide. 

-Tony

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  • Real Estate Broker · San Diego, CA · Member since 2017 · 13 posts · 12 votes
    8y

    @Anthony Dray Not having a broker or real estate license will not hinder you at all, and there are no legal restrictions to you contracting a property and assigning your interest in the property for an assignment fee. (disclaimer: I do not play an attorney on TV and definitely not in real life) 

    One thing I see that makes having a license easier is having the MLS to pull comps and value properties. There are certainly ways to do it without, just not something I have had to do being licensed myself.

    Best of luck to you and if you have any other specific questions just let me know.

  • Rental Property Investor · San Diego, CA · Member since 2018 · 13 posts · 3 votes
    8y

    @Corey Vines  Thank you for the feedback. I'll be sure not to misconstrue your comments as legal advice but it really does help to have professionals in the industry give some reassurance to what I'm trying to accomplish. I'll certainly have a few more hurdles to overcome not being licensed but I want to be sure that I'm going about things the right way. 

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