Quote from DG coach " I don't know of anyone investing in CA "

there are DG members/superstars that are making deals in CA

Network with them and maybe ask for another coach

Mike can you tell us the names of theses DG members/superstars that are making money in California so Jacob M and I can talk with them. I am in the same boat as he is. I live in the San Joaquin Valley Fresno and have not been able to make any deals as well.

Thanks
Steve

Jacob, your situation is much like mine. I have also struggle to close my first deal since 2012. I live in Santa Rosa California and I totally understand your situation, but I been spending more time on FSBO deals.

Keb64 I invest in cali and ohio. In cali i find homes off market and in ohio i use the mls and an agent..Ask you question..Keith

keep looking for the right agent; you don't want them to 'understand wholesaling'; all you want them to do is put in a cash offer for you with a 14-30 day inspection clause; then you do your wholesaling on the side...
you can make your offers under an LLC, and then wholesale your deal with the LLC.

keep going! don't let obstacles stop you!

there aren't many investors in Norcal making their deals in this area, but there are definitely some of them who are. Yosemite Guy (Darren) did a $25K wholesale a couple of months ago in Stockton.

I'm going to an Estimating Renovations Mastermind on March 23 I hope to network there and I hope to find another agent

He also said no to 14 days inspection he was not going to add that in. The first contract I asked for 14 and they the selling agent only gave 5 days .All my cash buyers responded in 24 hours. I had to back out.

It's the same down here in So Cal. You can throw the REI handbook out the window if you're in California. It simply does not work in this market. You are against the most savvy and aggressive investors in the country. Additionally, you are competing against oversees investors with cash money in hand. Only the other day, I was interested in an REO only to be told that there were already 35 offers submitted and that the agent did not have time to return calls. The only remote chance was to offer all cash beyond and above the listing price!!!

The positive side is that this all indicates that California real estate is hot and profitable. The only drawback is that you must have large amounts of cash and credit to play the game. It's all about supply and demand. Other states that have lower real estate prices is only a reflection of their depressed situation. No market with demand can sustain low prices indefinitely. Market forces will correct itself in due time.

"The investors have played a major role in recent home-price surges. Southern California's median home price has jumped 21% over the last year, with more than a third of buyers last month paying cash."

http://www.latimes.com/business/realestate/la-fi-housing-investors-20130...

As i have said before...California is a whole different animal. Other than the post from Yosemite Guy i can't recall the last N. California deal posted.

heres link to DG members by state
http://www.deangraziosi.com/real-estate-forums/local-networking-and-disc...

If someone had paid 5% OVER asking price one year ago they would have seen a 16% return on they money due to the 21% appreciation. If no money can be made and it is a terrible market, no investors would be there. Are all these investors that are paying over list losing money?
The price point is the price point. Purely market driven.
If the MLS is flooded with big money investors you might have to do massive and continual marketing to UNLISTED motivated sellers. You also might have to look at higher end housing and move away from first time home owner stuff and lower income rental properties. That is where EVERYONE is so go where they are not.
No cash or credit? WHOLESALE!!

Just my thoughts,

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

What about Tammy from Zion Properties is'nt she posting deals on this site and is'nt she from Cali? And don't get me wrong I'm a newbie also going through the samething you are but we have to be patient. I see you guys been members since 2009 and so on and you don't have alot of post going on we need to talk to more people on this site and you will learn more. And guys I never learn anywhere that you talk with your agent about your cash buyers or that you even have cash buyers. The first thing we was taught is to call a agent and tell them that we are investors looking to buy properties for cash that needs work that we can make 25k to 35k on. I never heard anyone say talk to your agent about your cash buyers they're not suposse to know this. So I think you need to find a new agent and make them think you're the cash buyer and they will work for you like the other investors.

Is making good deals in southern Cal, and she is working hard and staying busy. She does say it is a whole different ball game out there, but she is still following Dean's strategies.

Michael M always has great advice and I think he is right that you need to look at more expensive homes.

Milwaukee Steve is also correct about the agents. Someone also said to read earlier posts and you will learn how to handle various roadblocks. I would start by reading Tammy's journal.

Parties: Management Company LLC as Buyer, or her assignee,
With a standard sale MLS I'm trying to do an assignment of contract. Which is how The cash buyers got mentioned I had to back out of my first deal. Also I have been sending out a lot of offers In a letter of Intent with the agent as whom to contact. I'm really upset and I'm try to find away to turn this around.

Can I sent an Purchase Agreement to the selling agent for an MLS listing without using an buying agent or is that only for For sale by owner?

Jacob

I had to chime in here. First off I already put a call into the coaching department to see why something so silly was said. But it maybe was taken out of context. If I was going to buy for cash flow and a strong ROI, I probably NOT do that in California.

As I do currently in many many places around the country, find areas around the country where the cash on cash return is very high. Places where migration is in, unemployment is down, rents are strong and prices have not exploded YET. Build your power team and do it remotely.

But California as Michael M said (and that was a great post, BTW) is exploding with investors. If money wasn't being made there, they wouldn't be there. As far as buying fixing and flipping and possibly using partner money or wholesaling it is an amazing place to be.

Is it easy? Heck no. But can it be simpler when you follow the right path and that answer is YES. Tammy Reoch just recently wholesaled a deal in California and net $100,000 for her bank account and she has many more locked up. Again easy, no. Happen overnight, no. But with work is there amazing opportunities in California? YES.

Remember a hot market means lots of money pouring in and higher-priced houses mean a bigger spread when you wholesale or double close a deal.. Like Michael said you need to be more creative then the rest.. Call back the hotline and said Dean said to call and you want o work on super creative ways to get deals to you before others see them..

And dminlow - Like Valeri said.. You are NOT looking for a real estate agent to help you wholesale a deal. All they know is that you want to make cash offers on deals that you run through a very unique filtering system. In a shift market agents get more confidence and if they hear any buzz words that make working with you seem like WORK they may bail So follow the EXACT strategy to chat with them and go back at it;-)

Best
Dean

Jacob

I had to chime in here. First off I already put a call into the coaching department to see why something so silly was said. But it maybe was taken out of context. If I was going to buy for cash flow and a strong ROI, I probably NOT do that in California.

As I do currently in many many places around the country, find areas around the country where the cash on cash return is very high. Places where migration is in, unemployment is down, rents are strong and prices have not exploded YET. Build your power team and do it remotely.

But California as Michael M said (and that was a great post, BTW) is exploding with investors. If money wasn't being made there, they wouldn't be there. As far as buying fixing and flipping and possibly using partner money or wholesaling it is an amazing place to be.

Is it easy? Heck no. But can it be simpler when you follow the right path and that answer is YES. Tammy Reoch just recently wholesaled a deal in California and net $100,000 for her bank account and she has many more locked up. Again easy, no. Happen overnight, no. But with work is there amazing opportunities in California? YES.

Remember a hot market means lots of money pouring in and higher-priced houses mean a bigger spread when you wholesale or double close a deal.. Like Michael said you need to be more creative then the rest.. Call back the hotline and said Dean said to call and you want o work on super creative ways to get deals to you before others see them..

And dminlow - Like Valeri said.. You are NOT looking for a real estate agent to help you wholesale a deal. All they know is that you want to make cash offers on deals that you run through a very unique filtering system. In a shift market agents get more confidence and if they hear any buzz words that make working with you seem like WORK they may bail So follow the EXACT strategy to chat with them and go back at it;-)

Best
Dean

Like the man just said. It is not easy and if it was the other 97% of the population would be doing it.I do deals on the central coast as well as inland california. Is the market easy...heck no.... do i do lots of them no again but 70k in dec was fine with me. Find the right agent or find homes off the market with yellow letters ,bandit signs or fliers. My suv is a large moving bandit sign that no one can make me take down...I know that Val and I have our core business out of state in Ohio but we still look and find deals here. Don't stick your head in the sand now because you will miss the best deals..Keith

I had to comment on this guys. Calif is a tough nut to crack, but you can't give up.I am always taking action and always reading and trying to better educate myself.I joined the SA almost 1 yr ago, my 1 yr is about to expire:(
Which I absolutely love being in, kinda bummed that my time there is about to run out, I always call for advice when I need it.I also am always listening in on the phone seminars , especially the Q & A Dave whitmer does on wed's .
I always learn diff ideas from Dave's seminars, we talk about what works out there.
I love this site as well ( DG Family) I have learned so MUCH from everybody here, "Thank You DG Family " .
Guys , I am putting in 1-2 offer per day, I also have 3-4 realtors working for me to try and keep my lead bucket full, as well as my buyers bucket full,
I am working 1 deal under contract ( 3 house ,1 Lot Unit) Central valley,
I am also working with another Networked Partner who has a contract for a property in Sacramento, who I am partnering with, Fannie Mae, ( Tough 1, due to a deed restriction) she is new at this, But I am always trying to lend advice with what I have Learned, Because I believe we should try and help each other and share with what we were taught by somebody as well, And it is a win-win for us all
I know I have a lot to Learn still! I am still a newbie and not afraid to admit it.
But we can't give-up Guys, Keep moving forward, Take Action! It can be Tough and it does take work on our part, But The Blessings and the Rewards are Priceless.
Please feel free to send me an email if you are in Calif and would like to network and work some deals together, Lets share our Knowledge and make it a WIN-WIN. Gotta go know I have to do a second walk thru on the 3 unit deal I am working on, Busy Busy, But a good Busy . Lets Get Busy Everybody, And Lets Get Some! Sorry For the Book
Darren ( Yosemite Guy )

Michael...good post.
Dean...thanks for talking to the coaches about being more creative for CA.
Darren...thanks for the input, I'll send you a PM.

Milwaukee-Steve...the amount of posts has nothing to do with the amount of education,experience or effort. Just to give an example one maybe two of the finalists in the send me away contest have very few posts. John & Julie Wakefield have 217. Deans top student Matt 818. I met a couple last year at the EDGE who are very successful and I don't think have ever posted. I myself have bought,rehabbed,and sold a house. Sold a probate. Done rehab work on more than i care to remember. I also have a fair amount education and consider myself a work in progress. I am also networking with others on this site through phone, email & PM.

Deals are getting done in CA if you are doing it full time and are taking MASSIVE action. If you are doing it part time on a limited budget, it's a tough row to hoe. The corner stone of a good real estate deal is a motivated seller. If you don't have a motivated seller, you don't have a deal. Right now in CA, it takes massive action to uncover these motivated sellers.

http://www.cnbc.com/id/100512238

"In California's San Fernando Valley there are usually over 9,000 homes for sale this time of year, according to real estate agent Billy Wynn. Today there are just over 1,400."
...as I said, massive action to find the motivated seller because he is not on the MLS

"As a result, short sales, where the home is sold for less than the value of the mortgage, are rising as a share of total distressed sales, while bank-owned home sales are falling. Investors are now competing for such little supply that they are ironically pricing themselves out of the market."
...New game in town is the short sale, REO train has left the depot. Add a new tool to your tool box.

The more exposure a property has, the less of a deal it is. You have to find the motivated seller before the realtor gets him on the MLS.

Your right about what you say but at the same time I was only trying to protect Jacob feelings. He called a coach for support and did'nt like what he heard. So he came to us and I don't know your market but I bet him and I share the same feelings. We both paid for a system and we belive hard work will make it work. And for him to post like this it's are job to secure him you know I'm new also and next week I may feel the same way and you guys are all I have in this for support. Look at all the people that came for him even Dean. This is a real family and I apologize for any harm.

Thank you to everyone who has participated in this post. I didn't think I would get this many responses from the DG family and I REALLY appreciate everyone's input. I know that it takes a lot of hard work to make it in this biz and I didn't ever think that this biz was an easy road to travel. I simply wanted to find out from others if they are having the same experience as me and if not what are they doing that I'm not. I am on a tight budget so I'm doing what I can with very little money to get started and build some capital to expand and use other strategies other than wholesaling.
Mick and Paul, I appreciate your support and think we should put our heads together since we are in the same state.
Darren, I would also like to work with you and maybe get a little advice from you.
Dean, I was surprised to see your post and a little taken back to see that you would take the time to read and respond to my post, I know your a very busy man and it means a lot to me. I do appreciate your advice and I will definitely try to get more creative and ask the coaches to help me with that. I have been calling the support line very frequently and I've been doing exactly what they have said I should do which is find and agent, have them send me listings that are 90 days or older and show signs of being a motivated seller. I started working with 3 agents and narrowed it down to 1 who seems to understand what I'm doing and is willing to do the work. Anyways, as you all know I have not made my first deal yet and yes, it is frustrating but I'm not going to quit.
I am very pressed with the DG family and again thank you all for reaching out. I now know even more so that this site is full of people who care and are there for me when I need them most.

THANK YOU ALL SO MUCH!!!

Dean, Michael, TRDS, Keith, and Yosemite Guy all make great points with amazing advice to follow already posted above so go back read and re-read.

Having been through the SA and working at building my REI business for a year now with a full time day J.O.B. I'm learning all the time, making mistakes (once not twice), pushing forward and taking action. You must put in your time and as Matt Larson says: "pay your dues". Make the most of your time and get your mind right, Mindset is the MOST IMPORTANT part because it controls your thoughts and body!

My recommendations for CA:

Go to your local REI clubs and network, don't miss any meetings!

Use 25-1 filter but look at a higher price range, not just starter homes.

Find OFF MARKET properties (bandits signs, contact title companies and get out of state owners names/addresses for post cards or yellow letters, call for rent adds, post on CL and look for posts in RE sections.

CA investors are ok with a 7-8% return on their money, look into multi-units that provide this easier and wholesale them. (find these by calling for rent ads, and mls)

Find a short sale specialist who has a great negotiator on their team. There are ~1.7 MILLION homes STILL under water in CA alone.

Citibank and Chase are currently willing to sell their 2nd position mortgages for pennies on the dollar to homeowners in CA. With 1.7 million homeowners underwater do you think you could find someone like this, change their life, make a huge difference, and learn along the way?

Keep learning and taking action, DO NOT GIVE UP! Quitters never win and winners never quit. What one do you want to be...

Thom

What happened with your call to PMI?

I am a PMI graduate myself. The coaches were always great to talk to. The online classes were also great! Take the action steps after each lesson and you will succeed!! Don't skip anything.

Good luck!

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

Your first post showed your frustration and discouragement and sincere desire for feedback.
Your final post showed a true "Attitude" adjustment due to the support you received from all the DGers who responded..and most importantly the personal response you received from Dean himself. WOW! Guess we all know for sure now, if we didn't already know it, this business in not easy and requires a lot of hard work with a lot of learning "How To" along the way..but the rewards are many... not just the great income possible. How lucky you are to be a member of Dean's Acadamy! and how lucky we all are that Dean set up this site for us.
Thanks!Dean Keep that Positive Mental Attitude, Jacob..it imperative that you do, because then, you'll be able to see clearly the solution to the task at hand. Semper Fi. D-LO

Called the agent I have been working with
Told him in a message I buy in cash that I may use my cash or my investors cash not to worry about me closing. I feel he was not willing to work with me or deliver my criteria so I was looking for a new agent Also I hope he would be professional enough to let me know if any of my offers had been accepted.

Following through with the letters of intent I sent out with phone calls One REO the selling agent claimed he got the letter of intent but not the proofs of funds letter, So I met with him gave him the proofs of funds letter filled out a purchase agreement . They are investor friendly