San Diego County Investors - do you use wholesalers?

2 Replies

I would use any source that would bring me a deal (the ones listed plus bird dog, FSBO, etc.). So far I have actually used MLS, FSBO, and sourced my own.

I get off market listing and wholesale listings sent to me regularly.  Neither are typically that good of a deal.  I had an off market 6 plex recently sent to me with cash projections that did not take into account rent control or increased vacancy/turn over costs associated with raising the rent to market.  The projections were BS.  From wholesalers, I see top of market comps and unrealistic rehab costs.  I know my primary market.  I know the value of rehabbed RE as well as the value depicted in a refinance (it is lower than the actual value).  I do not like BS projections.  I would rather see realistic projections that depict lower return than BS projections.  The BS projections lower my trust because either the person I am dealing with is inept or deceitful. 

My point is a deal is a deal but verify everything.

Good luck

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