Hey everyone, so I'm looking to start a wholesaling business on the side to start getting my feet wet in Real estate and to build capital to eventually be able to venture into and fund my own BRRRR deals. I want to start in my back yard in San Bernardino in the inland empire in southern California but I'm not sure whether it's possible to wholesale here in Southern California. Would anyone recommend virtual wholesaling over wholesaling in your city? Any advice really that could me on my wholesaling journey is appreciated.
Either way works. You just have to do some things differently. I have a student in Temecula that is wholesaling. He has a lot of buyers in the area and in San Diego.
@Jim Pellerin Thank you for the advise! Could you maybe elaborate more on what kind of things I should do differently?
I saw you have a free wholesale mentorship program. How do I go about joining or what must I do?
I'm also trying to do the same thing
Using wholesaling as a means to generate capital to be able to find other projects.
There's a great book that taught me a lot about wholesaling and even had a step by step on what to do first, second and third...
It's called, "If you can't wholesale after this then I have nothing for you." By Todd M Fleming
@Adrian Coleman Thanks man! I appreciate the gem! Will definitely look into it and read up on it
@Emmanuel Gonzalez IMHO, it's going to be very difficult to wholesale in Southern California on a consistent basis in this market. Not much reason for a homeowner to sell at a discount nowadays. I started virtual wholesaling a few months ago. If you can find a good partner out of state, i think you can find more success. The profits are a lot smaller than they would be here, but i believe there is more opportunity.
@Cornelius Charles Okay I got you. I’ll definitely be looking into virtual wholesaling. Thank you for the input, I appreciate it!
@Emmanuel Gonzalez Start with driving for dollars in your backyard. That will help you get familiar with your market and give you a better understanding of real estate. Talk to people, realtors, investors, lenders, and people in your local forums on BP. If you need any books, podcasts, or youtube channels just let me know.
Driving for dollars, door knocking and relationships get you wholesaling deals in California.
However, here is what I am thinking I'll rather flip or BRRRR(if the numbers make sense in California) than wholesale. That appreciation $$$ is so juicy even an HML would jump at the slightest opportunity.
Overall, Wholesaling will require twice the work in Cali than the Midwest.