All Forum Posts by: Cristian Gaona
Cristian Gaona has started 2 posts and replied 4 times.
Post: California Wholesalers / Wholesaling Out Of State
- Posts 4
- Votes 0
Hello everyone,
When starting wholesaling in a state like California, is it best for somebody starting out to pivot wholesaling/investing out of state? I've reached out to some lists with little to no luck and the majority of home owners are asking for a premium regardless of their situation. I've been targeting NorCal markets now for a couple of weeks running ARVs between 70-80% with no luck.
Is it appropriate to believe I would potentially receive a lower cost per contract & increased motivated lead flow doing the same in out of state, slightly more stagnant markets?
Hi Tim! Thank you so much for your reply. Just went through both books - Finding and Funding Great Deals by Anson Young - especially, really put the entire wholesaling deal into perspective. You are completely right, I would be leaving a lot on the table & lacking any systems in place to potentially scale in the future. Moving forward i'll definitely have to be networking with intent to build my own lists & relationships directly with buyers and sellers.
What advice would you give to someone in California looking to start in their backyard market? How would someone be able to compete in a market so appreciated or is it best when staring off, in markets like California, to pivot out of state? Really appreciate all of your help Tim, all the best.
Originally posted by @Account Closed
@Travis T. Hi Travis, why would you recommend these markets in CA? I’m in the Central Valley, Stockton area but am having issues breaking in here. Any insight on how to analyze potential good markets would be greatly appreciated.
Hello everyone,
My name is Cris. New to the wholesaling and trying to find direction. Just created my BP account, looking to build relationships and learn as much as i can while being of any help to others. For the time being though, i would really appreciate some advice.
I'm located in Northern California, Sacramento/Stockton area. I experimented on the acquisitions side of things statewide (Vacants, Pre-forclosures, HE lists) for about a couple weeks with no luck. Went online, enrolled in a wholesaling program to more so get a better understanding of the principles in wholesaling, which for the most part it gave me. I wanted to see what i was doing wrong but the program preaches a system of being the middleman in charge of bringing acq and dispo wholesalers together without necessarily doing the legwork. More so just getting on peoples buyers lists and forwarding any deals to our connections in the program which in turn gives us a smaller cut but more volume of deals without having to work directly. I figured it made sense for me to work a market virtually w/ this system considering California's market "appreciation" in it's current state and how difficult it seemed to find any deals. Some of the other people in the program are having some luck working the ATL & PHO markets which is influencing where i will start doing some outreach but I figured i'd get more seasoned investors to share their take and maybe help me see some things from a different perspective.
I know this system is not the most sustainable/scalable but seems to be the fastest way to get the ball rolling in terms of revenue as it's marketing is time consuming but free, basically just FB group outreach & direct messages. I would like to work my local market in California but what sellers ask for doesn't seem to leave me with any working deals and working direct to sellers/buyers out of state has its limitations.
Would you advise to persevere in California working direct with parties or taking the virtual approach in a different market? Any additional advice is greatly appreciated. Thanks for all your time and help in advance!