I’m looking to get more serious about finding my own off-market real estate deals rather than relying entirely on agents or whatever happens to hit the MLS.
I’m mainly looking around the greater Sacramento area — Rocklin, Roseville, Folsom, Citrus Heights, Orangevale, Fair Oaks, Rancho Cordova, Sacramento, etc.
My goal would be one of two things:
Wholesale the property if I find a good enough deal but don’t want to take it down myself.
Buy and flip it myself if the numbers and property make sense.
For flips, I’m not necessarily looking for a destroyed house or a $100k+ profit. I’d actually prefer properties that are structurally/mechanically decent but outdated or neglected — something where most of the value can be added through paint, flooring, fixtures, landscaping, bathrooms and maybe a kitchen update.
If I can get in below market, spend a reasonable amount fixing it cosmetically, and make $20k–$50k+ after financing, holding costs, commissions, closing costs, etc., I’m interested. Obviously more margin is better, but I’m trying to be realistic rather than only chasing home-run deals.
I have access to hard money and enough liquidity to actually close on a property, so I’m not looking to just put properties under contract and hope I can find a buyer afterward. If it’s a good flip, I’d rather take it down myself.
What I’m really trying to figure out is how experienced investors consistently find these properties before everyone else does.
I’ve been looking into things like:
Driving for dollars and looking for neglected properties
Cold knocking / contacting homeowners directly
Absentee owners
Vacant properties
Probate/inherited properties
Pre-foreclosures / notice of default
Tax delinquent properties
Code violations
Tired landlords
Long-term owners with a lot of equity
Expired/canceled listings
Properties that have been sitting on the MLS and may have a motivated seller
Investor/wholesaler lists
PropStream/PropWire-type lead and property-data services
Direct mail
Cold calling/texting where legally permitted
Networking with agents who come across distressed properties
Contractors/property managers who may hear about properties before they’re listed
One thing I’m especially curious about is how agents and wholesalers find some of these deals in the first place. I’ve seen properties get picked up well below what they could probably sell for after relatively basic cosmetic work, and I want to understand where that original lead came from.
For people who actually do this successfully:
What lead source has produced the best ROI for you?
Do you pay for something like PropStream or another data service and build lists yourself? Pull public records directly? Drive for dollars? Send mail? Cold call? Network with agents? Or is it really a combination of everything?
Also, when you’re looking through a large list of potential properties, what signals make you decide that an owner is actually worth contacting? High equity + long ownership? Out-of-state owner? Vacant? NOD? Probate? Multiple indicators stacked together?
I’m willing to put in the work and even physically drive neighborhoods/knock on doors. I’m mainly trying to avoid spending thousands on marketing or buying garbage lead lists before I understand what actually works.
Would especially appreciate input from people currently doing this in California or other competitive markets. What would you do if you were starting today and wanted to build your own pipeline of genuinely off-market deals?

I have a house worth $700-800k in a C part of the Bay Area. No debt. Cost basis is $250k

Considering a few options to 1031

2 houses in retiree community

Or small apartment building

Would prefer to own local in Bay Area and targeting 50% LTV (1.6mm) ideally core+ and lower-ish maintenance.

I know I can increase value higher using SB-9 and other subdividing/ADU plots but curious what ideas are there

Could also 1031 into industrial close to Sacramento but think the market is a little hot for industrial