From my experience in Ventura County, there are not very many reasons why a seller would need to sell at a discount in today's market. Of course there will be exceptions, but not sure how much time and money you will be spending trying to find a needle in a haystack. When we stopped direct mail about a year or so ago, our response rate was 0.25%. The few leads that we do get now from our marketing, we are so far off in price they are looking for and what we can buy it for, that it's not even funny. If they put their home on the market, they can probably get close to what they are looking for. I'm sure others will have their own opinion, but i'm just not seeing how wholesaling is viable in Southern California (based off of what i'm seeing in our county) in this sellers' market.
It looks like you're an agent. Is there a reason you want to wholesale instead of list homes?
Originally posted by @John Moore :
@Tim Gordon I have a full time job tat I’m not looking to quit at the moment. So I’m looking for ways to do deals on the side. I’m newly licensed so I’m looking for a broker that I can arrange a mutually beneficial arrangement with for me to do deals under.
I believe it takes the same amount of effort to do either. But there will be much more opportunities to list a home than wholesale it. There’s a much larger percentage of retail sales, what’s the reason for selecting to focus on the smaller piece of the pie?
In either case you are working directly with a seller to find a buyer for their house. I'm not sure I see a difference in the type of work. Working with a broker would allow you access to guidance and mentoring which sounds like something that would be of value to you right now. Something to consider.
Very good point, Tim. I guess what I am looking for is someone I can achieve both of these objectives with as a broker I can hang my license under and someone I can pursue wholesaling deals with simultaneously. I am hoping to meet such a person via this website. Thank you for the tips @tim
@Tim G. , listening to your podcast now