Hi Everyone. My name is Khang and I am looking to start my wholesaling journey in the Sacramento, Ca area. I am really new to wholesaling and would like to have some guidance. I have been looking in zillow and finding some foreclose houses. It is listed by an agent. I am able to find some owners information but have not contacted them. Is it possible to wholesale houses that is listed in Zillow by agents? What are other ways I can generate leads for potential houses? What are the steps that I should take to be able to wholesale these properties? Any tips would be appreciated. Thank you for your time.
Real Estate Broker · Modesto, CA · Member since 2023 · 192 posts · 77 votes
2y
Hey Khang, welcome to the investing world! Wholesaling is a great way to get into the industry, I am a Realtor based in Modesto but have contacts and work in Sacramento frequently. If you stumble across any deals, I have investors positioned to purchase so feel free to share them! The best thing you can do to familiarize yourself with the fundamentals of wholesaling is to purchase some books and read them, Jamil Damji has a book on this at the BP store! You can also find a ton of them for under $15 and check out thriftbooks.com. The podcast episodes for BP number 12 and 37, and the business podcast episode 15 are good resources. Youtube also has no shortage of offerings on this subject. Zillow isn't always the most up to date with their listings, I encourage searching for listings that are FSBO for potential leads, driving for dollars, and going to local REI meetups!
Action step number 1: Youtube videos regarding wholesaling
Action step number 2: Podcast listen to episodes
Action step number 3: Purchase a few books on wholesaling and REI fundamentals
Real Estate Broker · Modesto, CA · Member since 2023 · 192 posts · 77 votes
2y
Hey Khang, welcome to the investing world! Wholesaling is a great way to get into the industry, I am a Realtor based in Modesto but have contacts and work in Sacramento frequently. If you stumble across any deals, I have investors positioned to purchase so feel free to share them! The best thing you can do to familiarize yourself with the fundamentals of wholesaling is to purchase some books and read them, Jamil Damji has a book on this at the BP store! You can also find a ton of them for under $15 and check out thriftbooks.com. The podcast episodes for BP number 12 and 37, and the business podcast episode 15 are good resources. Youtube also has no shortage of offerings on this subject. Zillow isn't always the most up to date with their listings, I encourage searching for listings that are FSBO for potential leads, driving for dollars, and going to local REI meetups!
Action step number 1: Youtube videos regarding wholesaling
Action step number 2: Podcast listen to episodes
Action step number 3: Purchase a few books on wholesaling and REI fundamentals
Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
2y
Don't listen to any podcasts.
Everyone is teaching people how to wholesale dishonestly, and no one is teaching you how to get actual leads.
For example, who told you that foreclosures were good leads?
How many mailers do you need to send to get one deal? thousands right?
let's say 1000. This means 1ooo mailer calls or texts to get one deal. This means your success rate is 0.1%. Which means 99.9% of the people on your foreclosure list said no to you. Which means were not motivated.
This is not an opinion right? This is pure data. They are FACTUALLY wrong when they teach you to send mailers calls or texts to ANY list.
If you want to learn how you truly get leads, how leads find you, and chase you, instead of you chasing them, trust me, there is a much better way!
Real Estate Broker · Sacramento, CA · Member since 2021 · 516 posts · 408 votes
2y
Hey Khang, listings on Zillow are sourced from the local MLS (Metrolist) and are typically listed with an exclusive right to sell by the listing broker. Therefore, you cannot typically go around the broker. I've heard of wholesalers getting good deals from the MLS but typically they're working off-market, which is kind of the whole point.
Anyway, as I'm sure you've gathered, there are many ways to make money in the real estate industry. Scott and I are hosting the event together on Wednesday the 6th - hope to see you there!
Hey Khang, listings on Zillow are sourced from the local MLS (Metrolist) and are typically listed with an exclusive right to sell by the listing broker. Therefore, you cannot typically go around the broker. I've heard of wholesalers getting good deals from the MLS but typically they're working off-market, which is kind of the whole point.
Anyway, as I'm sure you've gathered, there are many ways to make money in the real estate industry. Scott and I are hosting the event together on Wednesday the 6th - hope to see you there!
Thank you Noah. Would you please let me know what you mean by off-market and way on how I can possibly get a list of off-market deals.
Real Estate Broker · Sacramento, CA · Member since 2021 · 516 posts · 408 votes
2y
I am a real estate broker, I typically sell properties that are for sale. I'm not one to give guidance to "wholesalers", and frankly I think you'd be more successful getting your real estate license and doing things above board, rather than going down the "wholesale" path. Let's chat at the event on Wednesday!
I am a real estate broker, I typically sell properties that are for sale. I'm not one to give guidance to "wholesalers", and frankly I think you'd be more successful getting your real estate license and doing things above board, rather than going down the "wholesale" path. Let's chat at the event on Wednesday!
Everyone is teaching people how to wholesale dishonestly, and no one is teaching you how to get actual leads.
For example, who told you that foreclosures were good leads?
How many mailers do you need to send to get one deal? thousands right?
let's say 1000. This means 1ooo mailer calls or texts to get one deal. This means your success rate is 0.1%. Which means 99.9% of the people on your foreclosure list said no to you. Which means were not motivated.
This is not an opinion right? This is pure data. They are FACTUALLY wrong when they teach you to send mailers calls or texts to ANY list.
If you want to learn how you truly get leads, how leads find you, and chase you, instead of you chasing them, trust me, there is a much better way!
Everyone is teaching people how to wholesale dishonestly, and no one is teaching you how to get actual leads.
For example, who told you that foreclosures were good leads?
How many mailers do you need to send to get one deal? thousands right?
let's say 1000. This means 1ooo mailer calls or texts to get one deal. This means your success rate is 0.1%. Which means 99.9% of the people on your foreclosure list said no to you. Which means were not motivated.
This is not an opinion right? This is pure data. They are FACTUALLY wrong when they teach you to send mailers calls or texts to ANY list.
If you want to learn how you truly get leads, how leads find you, and chase you, instead of you chasing them, trust me, there is a much better way!