What does the Wholesaling Landscape look like in San Diego?
Member since 2022 · 14 posts · 5 votes
Anyone out there doing Wholesaling? Is there a market in San Diego for this strategy?
I ask because I'm considering taking a position as an "Acquisition Manager" for an out of state company. The deal would be 20% of the commission on the deal to start. I'm retired and this would be money used to fund my own investing. I don't need it to pay the bills. I'm just not sure this strategy is right for this market.
Advise is welcome.
Thank you all for your feedback/advice so far. The first phase of my training has started. I was asked to watch this video
If you're not comfortable watching rando videos, I get it! Please don't! But if you are, please let me know what you think. If you're a Realtor, please don't rewind to the beginning. It is somewhat offensive. Actually, very offensive.
Is the Zillow app the way to go? I was not impressed.
Thanks again for the thoughts.
Roy,
I have jumped into direct to seller marketing as a source of leads for house flipping here in San Diego. The key to success in this is consistency. You have to do it consistently to get deals. Many folks try it for a few weeks and stop because they don't get any leads. It will take more work than that. Let me know if I can help!
I have a friend at church doing it for himself, and another friends wife works for the big local flipper who is also wholesaling. So yes it can and does work. From what I've seen often you'll be much tighter of the deal at higher ARVs than are normally discussed but the spread is still good due to high values.
Anyone out there doing Wholesaling? Is there a market in San Diego for this strategy?
I ask because I'm considering taking a position as an "Acquisition Manager" for an out of state company. The deal would be 20% of the commission on the deal to start. I'm retired and this would be money used to fund my own investing. I don't need it to pay the bills. I'm just not sure this strategy is right for this market.
Advise is welcome.
If you have the right skillset you can do well as a wholesaler. Some thoughts: 1) if you have the right skillset to succeed as a wholesaler you likely can succeed at many jobs. It requires lots of skills including very good people skills. Do not go in thinking it is easy. 2) what is the company providing that is worth 80%? That seems like a huge percentage when I suspect they are providing you some purchased lists, some potential buyer lists, maybe some marketing, maybe a mailing budget. These would seem to not equate to 80% of the profit. 3) if your selling price is 20% greater than acquisition amount, you would get 4% (20% of 20%). This would require a lot of deals to do well, but it could work if you are good.
If I were good at wholesaling, I would not be working for a company that got 80%
Good luck
I have a friend at church doing it for himself, and another friends wife works for the big local flipper who is also wholesaling. So yes it can and does work. From what I've seen often you'll be much tighter of the deal at higher ARVs than are normally discussed but the spread is still good due to high values.
Thanks for the feedback Matt.
Anyone out there doing Wholesaling? Is there a market in San Diego for this strategy?
I ask because I'm considering taking a position as an "Acquisition Manager" for an out of state company. The deal would be 20% of the commission on the deal to start. I'm retired and this would be money used to fund my own investing. I don't need it to pay the bills. I'm just not sure this strategy is right for this market.
Advise is welcome.
If you have the right skillset you can do well as a wholesaler. Some thoughts: 1) if you have the right skillset to succeed as a wholesaler you likely can succeed at many jobs. It requires lots of skills including very good people skills. Do not go in thinking it is easy. 2) what is the company providing that is worth 80%? That seems like a huge percentage when I suspect they are providing you some purchased lists, some potential buyer lists, maybe some marketing, maybe a mailing budget. These would seem to not equate to 80% of the profit. 3) if your selling price is 20% greater than acquisition amount, you would get 4% (20% of 20%). This would require a lot of deals to do well, but it could work if you are good.
If I were good at wholesaling, I would not be working for a company that got 80%
Good luck
Hi Dan,
I love the feedback! You've definitely given me lots to think about. As for your comments/questions, #1 I've never done wholesaling and would be learning on the job, so only time will tell if I will be any good at it. If not, I will at least learn about the local market, also which I'm new to. But being retired, it will give me something to do beside walking my dogs several times per day. #2 I will find out more tomorrow about what they provide and what will be expected from me. My understanding is they provide training and have cash buyers lined up??? #3 I don't need to make a lot of money, but I'm motivated to learn the market, the players and multiple strategies for investing on my own.
I'm sure I will have more questions for the forum tomorrow.
Thank you all for your feedback/advice so far. The first phase of my training has started. I was asked to watch this video
If you're not comfortable watching rando videos, I get it! Please don't! But if you are, please let me know what you think. If you're a Realtor, please don't rewind to the beginning. It is somewhat offensive. Actually, very offensive.
Is the Zillow app the way to go? I was not impressed.
Thanks again for the thoughts.
Thank you all for your feedback/advice so far. The first phase of my training has started. I was asked to watch this video
If you're not comfortable watching rando videos, I get it! Please don't! But if you are, please let me know what you think. If you're a Realtor, please don't rewind to the beginning. It is somewhat offensive. Actually, very offensive.
Is the Zillow app the way to go? I was not impressed.
Thanks again for the thoughts.
Roy,
I have jumped into direct to seller marketing as a source of leads for house flipping here in San Diego. The key to success in this is consistency. You have to do it consistently to get deals. Many folks try it for a few weeks and stop because they don't get any leads. It will take more work than that. Let me know if I can help!
Hi Alejandro,
Please tell me more about direct to seller marketing. Also, if you have any recommendations for listing agents who understand the wholesale market, much appreciated.