Los Angeles, CA · Member since 2017 · 23 posts · 2 votes
Hi BP family,
I'm new to the forum and this is my first post. I'm looking to begin my career as a real estate investor.
My wife is an agent and I have a background in finance.
I'm looking to get started by wholesaling but I wanted to know if anyone here has recent experience in wholesaling in the Los Angeles market?
I grew up in Bakersfield, which I travel to often, and I'm also considering looking into deals in that market since it's still affordable and I'm familiar with most of the neighborhoods.
Anyone have advice on how to get started?
Investor · Atlanta, GA · Member since 2013 · 922 posts · 336 votes
8y
welcome to Bigger Pockets.
if you know Bakersfield you may want to wholesale there and in Los Angeles. here are some steps that will help you with wholesaling. 1. join Bigger Pockets (which you already have). 2. join your local real estate investment club and hook up with a mentor and other wholesalers. 3. both you and your wife are in the industry so all you have to do is network and spread the work. 4. For you especially wholesaling is really a win/win. if it's not a wholesale deal it's a listing for your wife! either way you win!
Investor · Atlanta, GA · Member since 2013 · 922 posts · 336 votes
8y
welcome to Bigger Pockets.
if you know Bakersfield you may want to wholesale there and in Los Angeles. here are some steps that will help you with wholesaling. 1. join Bigger Pockets (which you already have). 2. join your local real estate investment club and hook up with a mentor and other wholesalers. 3. both you and your wife are in the industry so all you have to do is network and spread the work. 4. For you especially wholesaling is really a win/win. if it's not a wholesale deal it's a listing for your wife! either way you win!
Realtor · Gilroy, CA · Member since 2016 · 255 posts · 72 votes
8y
Welcome!!
These days you have to do a lot of networking and handshaking to get deals.. mailing is only working if you’re sending thousands upon thousands of letters each month.
Investor · Bakersfield, CA · Member since 2015 · 483 posts · 234 votes
8y
@Gerrell King the wholesale market seems to be pretty time and capital intensive right now due to all the competition. There are definitely good deals to be had it just takes more time and energy than before. If you do end up getting some good wholesale deals feel free to shoot them to me. Also, if you would like to talk further about the Bakersfield market feel free to PM me.
Real Estate Consultant · Chicago, IL · Member since 2014 · 720 posts · 439 votes
8y
@Gerrell King , unless you have a really good source of deals to wholesale, as new at investment, I will say if you find that deal of the century make sure YOU buy it! After you buy the first property, while doing work there, renting, refinancing, etc, you can wholesale all your other deals you find!
Remember the money is made when you buy and hold not when you sell the properties.