Hello Bigger Pockets Members,
My name is Jose and I am new to real estate investing. I decided to learn more about real estate after reading Rich Dad Poor Dad by Robert Kiyosaki. This lead me to buying Flip by Nick Ruiz. That being said, I am a complete newbie to real estate trying to land his first wholesale deal in Southern California. I came across the Bigger Pockets website while trying to find answers to questions like determining target neighborhoods and low cost marketing techniques.
I am looking forward to learning as much as I can from this community of real estate investors and professionals and look forward to landing my first deal with all of your help.
I am also into coffee if you couldn't tell from my profile picture. I am working on my latte art and my profile picture is one of my recent designs.
Thank you for the warm welcome!
Welcome to BP. You picked a great read and now a good forum.
Welcome to the site @Jose Beltran III
@Jose Beltran III There is a lot to learn in those books and especially on this site from the pros. So many people with a wealth of knowledge. The SO CAL market is competitive and saturated but there is a lot of money to be made here. Learn as much as you can, ask questions, and enjoy the ride.
Steve, thank you for your comment. I've wondered how saturated the So Cal market would be, but it makes sense that there would be a lot of competition out here. Do you have any advice for someone like me looking to get into wholesaling in the So Cal market?
Thank you, again!
@Manolo D. Sure ... you will not find anything to wholesale on the MLS. There are professional wholesalers out there that have been doing this for years or even decades. On top of that there are investors out there looking to buy stuff themselves. Then there are agents who are looking for their investors trying to make commission by being their agent on the deal. Every good deal on the MLS has 10 - 40 offers on it and gets bid up super high.
SO .... work smarter ... not harder.
You have to get out of your comfort zone and speak to people on your street, community, church etc... and find out if they want to sell or not. if you see a disheveled, beat up house, find out who owns it and talk to them. Try to get in good with an asset manager (fat chance) or other wholesalers.
First and foremost though you have to be able to analyze a deal and know if it is going to make sense or not. You don't want to offer too much or too little and blow a deal. Talk to people on here, look at your books,, utilize the property analysis tool on here. There is so much to know and there is a learning curve. So stay at it and be a sponge ... absorb as much info as you can.
@Steve S. Analyzing deals is definitely something I've been trying to learn more about. Thank you for the solid advice!
@Jose Beltran III Welcome! Newbie investor here. I picked up pretty quickly that SoCal is a tough market to work with. Stay at it.
Welcome to Biggerpockets @Jose Beltran III ! All the best on your real estate ventures!
Welcome to BP. I used to live in Stevenson Ranch. What do you want to do in the investment world?
Hello @Mark Creason ,
Thank you for the welcome! I want to begin with wholesaling. I'm currently working on trying to find my first deal. Being from the Stevenson Ranch area, what did you think of the Santa Clarita Market as well as the surrounding markets? Do you think it is possible to wholesale in this area?
What kind of real estate investing are you currently involved in?
Thank you for the comment!
Welcome to BP! I'm a beginning investor as well and it's good to know that there are others in my neck of the woods! Best of luck getting started!
I love the latte art!! Welcome to BP. I'm not far from you, just down in Venice. I used to work in Palmdale, and live in Lancaster, though, so have been through Canyon Country quite a bit!
Welcome Jose - you'll find a ton of useful resources here.
Hello @Ali Boone . Thank you for the warm welcome and the comment on my latte art! If you've never been to Menotti's, check it out! It's a great coffee shop and the head barista is a latte art world champ. Love your website name as well!
@Joshua Schneiderman thank you for the warm welcome! There really is a large amount of useful information on this site. I'm starting on the Podcasts and the beginner guide right now. Going to hone in on the wholesaling as soon as I finish up the guide.
@Account Closed , thank you for the welcome! I'm very glad to know that there are beginner investors here in Santa Clarita. It would be pretty cool to meet up and discuss real estate.
Will do, and thank you! :)
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