@Robert Hall@Brian White It can be tough to find deals in your area because prices are high and you get a lot of competition.@Kenesha Lewis, what sort of list did you use.
Mailing can be very effective, but you do need to get innovative when you are in a crowded market like this.
You should consider mailing to people who aren’t in every other investor’s sites. Absentee Owners have been popular for a long time, and are apparently still somewhat effective (people are still mailing to them) but they are getting multiple offers to buy their home. It's hard to stand out.
There are some owner-occupied segments with people who share motivating factors for selling their home.
Seniors with Long-time Ownership: often ready to downsize or transition to assistance.
Homeowners with Low Financial Stability Scores (FSS): Struggling financially and likely ready to cash in on their asset.
Both these categories have additional advantages in that they probably don’t haven’t been updated and may have deferred maintenance. They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint.
Robert, even if you go the traditional realtor route, the seniors could be a good segment for getting listings.
@Robert Hall, I've been in the San Diego market since September and it's tough, but good. Good for learning and networking with other real estate investors.
I've used the Deal Machine app while I've been out driving for dollars and I'd send postcards to those property owners, once a month. I've also sent handwritten letters to these property owners too.
I can't say what works best in this market (San Diego) because each person's success and experience is different based on what they've done for their business.
@Robert Hall, I've been in the San Diego market since September and it's tough, but good. Good for learning and networking with other real estate investors.
I've used the Deal Machine app while I've been out driving for dollars and I'd send postcards to those property owners, once a month. I've also sent handwritten letters to these property owners too.
I can't say what works best in this market (San Diego) because each person's success and experience is different based on what they've done for their business.
Thanks for the info. I just passed my CA RE exam, so I may just go the traditional route.
I am a real estate agent in Carlsbad looking into Wholesale deals. Any tips or networking would be awesome!
Happy holidays!
Brian
Hey Brian,
I just passed my CA RE exam last week. Can you give me any advice on how to find a great Broker to work for here in San Diego, and what to expect as a new agent?
@Robert Hall@Brian White It can be tough to find deals in your area because prices are high and you get a lot of competition.@Kenesha Lewis, what sort of list did you use.
Mailing can be very effective, but you do need to get innovative when you are in a crowded market like this.
You should consider mailing to people who aren’t in every other investor’s sites. Absentee Owners have been popular for a long time, and are apparently still somewhat effective (people are still mailing to them) but they are getting multiple offers to buy their home. It's hard to stand out.
There are some owner-occupied segments with people who share motivating factors for selling their home.
Seniors with Long-time Ownership: often ready to downsize or transition to assistance.
Homeowners with Low Financial Stability Scores (FSS): Struggling financially and likely ready to cash in on their asset.
Both these categories have additional advantages in that they probably don’t haven’t been updated and may have deferred maintenance. They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint.
Robert, even if you go the traditional realtor route, the seniors could be a good segment for getting listings.
Hi @Chrissy Parsons ! Thanks so much for the tips. I don't have much capital right now so my list are targeted with some motivation such as tax delinquent, absentee owners and probates. When I find a property with all three, I target them until I get a response and put them on my hot lead list! I have called some seniors and they say "I will die in my house". I put them on my follow up list.
@Robert Hall Go attend one of your local REIA meetings. This can be a great opportunity to learn more about real estate and to network with pros in your locality! There, you will be able to uncover many details about San Diego's RE market.
For any realtors and wholesalers, I am looking for a rehab on at least three acres in eastern San Diego County -- Mt. Palomar, Mt Laguna, Borrego Springs, Warner Springs.