New to Investing -- Santa Rosa, Ca: Wholesaling(?)

New to Investing -- Santa Rosa, Ca: Wholesaling(?)

Real Estate Agent · Santa Rosa, CA · Member since 2019 · 20 posts · 7 votes

Hey all!

I've been in Real Estate for about 15 years first as an appraiser and the last 10 years sourcing deals for large institutional investors and wine-companies building vineyard portfolios.  Now I'm looking to apply those skills to personally build a residential portfolio.  

I've heard alot of the cautionary tales that too many newbies jump into wholesaling because it seems easy and they end up washing out.  It seems like the right place for me to start(?) given the lower capital requirements and the fact that I've sourced $50mm in Ag deals in the past 5 years.  I've got some deal sourcing skills - albeit with a totally different set of parameters, but my thinking is the methodology and diligence required is similar.  Does this seem right? 

Ideally, once I've wholesaled a handful of deals I'd like to move to flipping or buy and hold - I've got one best friend who's a remodel contractor, and another who builds (full kitchen) cabinetry, and they have interest in getting into the game.  It seems like a pretty reasonable path, what could go wrong, right;-)?    

Would love any thoughts or feedback and would certainly love to connect with anyone in the North bay.  

Very happy to be here and very much enjoying the podcasts!

David

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  • Justin WindhamPro Member
    Banker · Nationwide · Member since 2015 · 4k+ posts · 1k+ votes
    7y

    @David J Carciere

    Welcome to Bigger Pockets!

    You'll find plenty of friendly, knowledgeable people willing to respond to your posts. A lot of forum members are experts in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, buy and hold investing, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

    There are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/pro

    The site has quite a few tools that can be helpful for new members. For example, if you are looking to connect with other members near you, want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/users

    I really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alerts

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  • Retirement Accounts Attorney · Southfield, MI · Member since 2017 · 3k+ posts · 1k+ votes
    7y

    @David J Carciere

    Welcome to BP!

  • David J CarcierePro Member
    OP
    Real Estate Agent · Santa Rosa, CA · Member since 2019 · 20 posts · 7 votes
    7y

    Thank you all for the feedback and the additional rescources in particular @Justin Windham.

    I'm looking forward to jumping into it. 

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y

    going to be tough in Santa rosa with the fires.. and shortage of housing.

    you may want to target lots.. and flip lots.. there are plenty of those.

  • David J CarcierePro Member
    OP
    Real Estate Agent · Santa Rosa, CA · Member since 2019 · 20 posts · 7 votes
    7y

    @Jay Hinrichs

    Thanks Jay, good point. Quite a few buildable lots, not as much housing inventory..

  • Real Estate Agent · Northern California · Member since 2018 · 68 posts · 9 votes
    7y

    So what happens when a house gets burnt down? Does the insurance company have it rebuilt for the owner? Would Rohnert park and cotati be a better place to wholesale?

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