In many parts of CA, you could spend anywhere from 200-700k on dirt, plans, architects, permits, zoning, entitlements, etc. and these drive up the costs of housing unnecessarily. 

Hi Lee, If I were in your shoes as a beginner, here’s where I’d start:Free Resources First: Podcasts like BiggerPockets and YouTube channels (Max Maxwell, Jerry Norton) give you a solid understanding of wholesaling basics for free.Structured Courses: Look into beginner-friendly online wholesaling courses — some are offered by local REI groups or mentors.

I TOTALLY missed last year's BiggerPockets Conference by about 50 minutes.It was held in Cancun (México), and I was living in Playa del Carmen at the time, just under an hour's drive away.But, I didn't find out about the event until the last day ... 😭😭😭... so I didn't try to make it.I probably SHOULD have tried, though, because I hear it was 🔥🔥🔥!

Drives me just about as crazy as the weekly "tax loophole" question that arises.  

Keep in mind West coast land is simply not like Texas FLA or other parts of the country.. buildable lots shovel ready basically start at 150k and go up..

Quote from @July Maggard: Hey everyone,I’ve been driving for dollars and finding a lot of distressed/vacant properties in Schulkill County, PA.

Hi Enrique, As you gain more experience, you will start to see how much the market dictates what a deal is, and how formulas are only basic guidelines.

House Duplex: 1900sq 3bd, 3ba house800 sqft 1bd, 1ba aptYr built: 1960Tried to sell for $225k since Apr - Potential to force value though renovations- no upgrades made since 1960- all required make-ready repairs are mx… not value-add- plan is to buy-and-hold, these repairs would be needed eventually… might as well get them done now Financials Sale price: $199kInterest: 8%Down Payment: ~$40k (20%)Closing costs: $12kMake-ready repairs: ~$10kCash flow: $200/month - still cash flows at 8% interest- Cash reserves available for unexpected breaks; paying mortgage myself- Must receive combined $2700/month to break even Seller contributions $2k towards closing$10k towards repairsHVAC routine mx$1k Flood insurance renewal $250 termite inspection$125 foundation warranty transfer fee - Extremely motivated old lady… but she’s basically at the end of her rope… nothing left to give- So many repairs and basic maintenance needed, even at this price w/ seller concessions… might not be a good deal Location Donaldsonville, LA~1000 personnel; 500 are contract/temp at any one time~600 employees at Shell in Geismer (~30 min away)1hr from New Orleans45 min from Baton RougeMarch 2025 – final confirmation of Hyundai steel factory- $5.8B investment; first north American electric arc furnace (EAF) – groundbreaking Q3 2026 - Potential for property values to increase soon- New/more people expected to enter area- Small town – not much new construction & limited inventory: potential high demand for rentals- Hard to trust anything in current economic conditions… something could go wrong/be cancelled between now and Q3 2026 General mx General Handyman tasks = $2kDoor trim/adjustmentReplace rooftop vents with thimblesFix ceiling fan (counterweight)Add smoke/carbon monoxide detectorsAdd gutters = $2kTrim 2x large trees overhanging roof = $2k - Seller unwilling to perform any of these- My $10-20k is going towards repairs instead of renovations/upgrades- “don’t know what we don’t know” – will likely find more things as maintenance is performed Plumbing Inspection revealed cracks in original cast iron and terracotta pipes: $22k to reline all; $8k for cast iron only (from only 1 bid) - Not an emergency *yet*; can defer though not a good idea - people think the $22k quote is way too high (2 realtors, 1 contractor) Electrical Replace cloth and rubber-covered wiring = $11k - Seller contribution of $10k towards repairs mostly covers this- MUST be replaced- $11k only covers cost of rewiring – not drywall or panel replacement should they have to cut through walls HVAC (additional HVAC mx, if needed = $1.5k)Add attic insulation = $2k - Seller performing basic mx- Both units are old and neither uses EPA-approved refrigerants allowed today. - One is a 2-ton and the other a 4-ton – likely looking at $16k to replace both if they break- Attic needs an additional ~7in of insulation added; without it the HVACs are working harder than necessary – shortening lifespan but insulation will cost $2-8k Foundation Foundation inspection (same people that inserted foundation pillars for $8k suggested adding 8 more pillars for $15k) - Basically every home in Louisiana has foundation issues… it’s a swamp- General inspection report doesn’t think it looks bad- Mx can be deferred- Current foundation warranty exists for life of structure- Costly to add additional piling support to remainder of house

@Benjamin Sulka supply/demand of your local market will drive what you and cannot ask your applicants to do, but I always advise DIY owners to ensure they’re screening applicants before meeting anyone.

Im going to start driving around a few neighborhoods and try to spot vacant, run-down, foreclosure/ delinquent residentials to type into the countys tax website.