Possible OC Wholesale Deals

[Justin B.]

Hello all,

I'm curious if it would be possible to get a wholesale deal in Orange County (either Costa Mesa or Orange) as my first home.  I don't mind putting in a bit of work if it's in rough shape.  I know of a co-worker who was able to do this a couple of years ago with a house near Pasadena and didn't even have to pay cash (use bank financing instead).

I would love to hear your thoughts and experiences.  Would this even be possible in today's market?

Thanks!

[Joe Homs]

Justin B. Absolutely you can. I just finished closing on a deal from a wholesaler in Ladera Ranch. I however am going to flip the property and not hold on to it.
I would begin by networking with area wholesalers at local meet ups. There are a few I can recommend in Orange County.
You will then need to get your financing in place with a lender. Make sure you have enough money for the rehab.
You will then need to find an investor friendly contractor if you are not doing it yourself.
Live in the property for two years, sell it and buy something bigger and do it again.
Good investing.