Real Estate Wholesaling Questions & Answers

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  • Mission Viejo
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What should I avoid when doing RE wholesale in California?

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  • Mission Viejo
Posted Jun 27 2019, 11:54

Hello guys, I'm slowly getting a good grip on wholesale and focusing on 1 sub-niche of this wholesale thing. But for as a beginner, what are the list of things that I should avoid so I will not get into any legal troubles here in California? I'd appreciate all input that I can get. Thank you guys.

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Edwin Martinez
  • Rental Property Investor
  • Whittier, CA
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Edwin Martinez
  • Rental Property Investor
  • Whittier, CA
Replied Jun 29 2019, 13:58

@Marc Tumamak one good advice is befriend a real estate lawyer for any legal questions you may have this will include your purchase/sale agreement contracts. Words in your contract need to be spelled out in full details to avoid complications ,for example “has the ability to assign contract”

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  • Mission Viejo
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  • Mission Viejo
Replied Jun 29 2019, 15:06

@Edwin Martinez, noted. I will write this down. Thank you sir! :)

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Replied Jun 29 2019, 18:22

@Account Closed I would add befriending a real estate agent to the real estate lawyer Edwin recommended. Zillow, Trulia, etc. are not sufficient for comps... you need good numbers based on MLS info for 1) making your offer to motivated sellers and 2) for determining ARV (after repair value) selling your interest in a property to cash buyers. I've done some wholesaling, if you have more questions I'll help where I can.

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Bill Brandt#3 General Landlording & Rental Properties Contributor
  • Investor
  • Las Vegas, NV
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Bill Brandt#3 General Landlording & Rental Properties Contributor
  • Investor
  • Las Vegas, NV
Replied Jun 29 2019, 18:54

Come on, someone had to say...

CALIFORNIA....

:-)