All Forum Posts by: Account Closed

@Matt C.  Thank you for the great advice. That would definitely help me.

Hi BP

I'm 21 and live in Southern California by the coast and homes around my neighborhood range from 500,000 to 1M+. I want to start doing flips around my neighborhood to earn money to pay for my schooling and take care of my parents.

I'd like all of your opinions on how I'd best position myself to be able to do flips around here in the least amount of time possible. I bought J Scott's books on flipping and they are going to be my road guide (I'd recommend buying these books for all the newcomers out there like myself). But I feel I am lacking a broader plan. What else can I do besides read/learn? And with no credit and a part time job, how am I able to apply for financing? 

I understand many posts like this are up almost every day so any advice I receive here will be greatly appreciated. Have a great day :)

Spencer

I'm in the same situation as you, but in a few years older lol. I'm going to go for a BA in finance. Consider taking some courses on accounting, it would be a great skill to be comfortable managing your own money and financial decisions.

@Joey Dwyer

thanks for the information.

Hi all, thanks for reading this post. I was wondering what laws/regulations are in place for wholesaling in california. I looked around online and couldn't seem to find anything. Maybe I'm looking in the wrong place? I plan on asking a real estate attorney in my area as well, but I thought I'd drop the question by the reliable BP community first :)

Another question I had is where should I look to find 2-3 unit buildings in my area (torrance, california)? I want to start out wholesaling while living in a building and renting the other units out to other people to get my rent covered, but the properties here are so high priced it's intimidating. Thanks for your time.

I'm in a similar position to yours and I would say either go for it like Reuben said, or look in your area for any other successful wholesalers. You could offer to follow up on leads for them, take care of their marketing, or simply help them with tasks they need taken care of in their wholesaling business. What you would get out of it is knowledge and experience, enabling you to have more confidence in starting your own wholesaling buisness. You would also make a contact in your local wholesaling market. Wholesalers can help each other out and I find it always more profitable for everyone if they were to work in a team rather than by themselves. This is purely my opinion, I haven't done a deal before and don't claim to be an intelligent investor, but this is what I plan on doing in the near future. Hope this helps and good luck on your journey!

Thank you Leah!

CK Hwang Thanks for the great information. I now understand that homeowners would agree to a sub 2 because they can't afford their monthly payments or just want out of the house. I never considered what it would be like to use sub 2 with higher priced properties. Thanks for the clarification, I'm slowly starting to understand this more bit by bit. As for my buyer's list, I haven't began to wholesale and am still a begginner so I don't currently have a buyer's list. But I definately plan to begin wholesaling once I'm familiar with the whole process, so I will send you a message when I begin marekting for my first deal. Also, what kind of properties would you be interested in? If I had details on what you would be interested in I could keep an eye out for those kinds of deals. I have to say these past two weeks reading forum posts here in BP has really taught me a LOT.

Hi everyone

I was just wondering if there are any wholesalers based out of southern california. If there are, I would love to hear about your experiences, deals made, opinion on the market, any pros and cons you have identified, successful strategies, and anything else you would like to share. I would also love to hear any sub 2 deal stories as I am currently trying to completely understand this topic. I have very limited funds and it seems like a lot of people are recommending the sub 2 strategy.

@Richard Gaston Yea I've been through almost all the flip2freedom podcasts and am now heading into the BP podcasts. They are great to listen to in the car or to and from work. I'm quite the vampire haha rather be learning than sleeping! :) If you haven't already Sean Terry's downloadable book has some pretty good information in there as well I am planning on "borrowing" a few of his techniques to market for sellers :D

Go to flip2freedom.com or check out Sean Terry's podcast called flip2freedom on iTunes. Even comes with a free downloadable book. Teaches you everything you need to know about wholesaling