OfflineI have been in dean's program for about 2.5 months and have been focusing on building capital through the wholesaling strategies taught (market focus: in San Diego, CA). We have a reasonably sized buyers list, but are struggling to get offers accepted in the San Diego market. There is a lot of cash here and many cash buyers are paying list price for homes even ones that require many $$$ of repairs. That being said, we are seeing deals being under ARV.
My question: In addition to bandit signs, Craigs List, etc that we were taught in boots on the ground/seminars, what other techniques are San Diego inivestors using to find these deals and lock them up in such a competitive space?
Thanks,
Shawn
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Hey Shawn … I’ve invested in San Diego and I’m continuing to invest in San Diego with a business partner who is a REALTOR.
We do find great deals through the MLS (since I was a REALTOR & my friend is a BROKER, we are able to utilize all the resources that are available through the MLS to find very motivated sellers)
Below are some other methods that we implement:
1.Expired Listings – these are motivated sellers because they had their property listed with a REALTOR for many months but it didn’t sell. They are happy to work with us because they don’t have to pay a commission to a REALTOR and they want to sell because they had the property on the market.
2.FSBO – For Sale By Owner (posted on free websites – www.FSBO.com / www.Owners.com / etc. plus you can do a search through Craigslist)
3. Attorneys – foreclosure / divorce / real estate / Bankruptcy / Probate (these specific attorneys are working with individuals
that are in difficult situations and need to sell their properties.
4. REIC – attending local investment clubs allows you to network with homeowners that need to sell properties
5. Landlords – many landlords want to liquidate their real estate portfolio and you have an opportunity to get great deals.
These are a few proven methods that work not only in San Diego, but everywhere in the U.S.
Keep up the good work and you will have success!
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