What Do You Guys Think About Virtual Wholesaling?

[Raheem Jamaal]

What's up, BP Family! I know this is not a new concept, but it is fairly new to the overall 30,000 foot view of wholesaling. What I want to know from the people that are experienced in running a virtual wholesaling business, is it actually doable for someone just starting out? Is it more cost effective and worth the time and effort to structure a business like this as opposed to just trying to wholesale in your local market? I know a lot of you will probably ask "Well, what are your goals? Well, based on your answers, my goals will look like this. My Short Term Goal (pertaining to virtual wholesaling based on you guys opinion if it's doable for someone starting out): 1. Do 5 virtual wholesale deals a month that profit me at least 50,000 dollars a month after overhead. 2. Put that money into a house hack. 3. Continue scaling the wholesaling business while working a full time job. My Long Term Goal (pertaining to virtual wholesaling based on you guys opinion if it's doable for someone starting out): Now that the virtual wholesaling business has scaled and I have a solid team; now I want to put that money into income properties. 1. 10 virtual wholesale deals a month that profit me at least 100,000 dollars a month after overhead 2. Roll that money into a SFR every two months so 6 SFRs a year divided into 3 different states and 1 local market each state so for example 2 SFRs in Orlando, Florida, 2 SFRs in Clayton, Georgia, and 2 SFRs in Somewhere, Michigan...you get the point... (possibly leveraging conventional loans or private money as well) 3. Rinse, Repeat until I feel like I'm ready to scale that business and do commercial multifamily. (don't know too much about commercial so those goals are blurry) All in all the big end of the road goal is to have 250,000 dollars a month in net rental income long after I've retired from my 9 to 5. (maybe late 30s-early 40s) OR... If you guys think that newbies should stay away from trying to virtual wholesale, I can do it the somewhat traditional way of building a long time rental portfolio. Maybe house hacking a few times, network with people and find private lenders to do other rental deals with, and just do buy and hold until I'm where I want to be. Anyway guys, I'd like to hear what you guys think of the whole concept of virtual wholesaling, can it be done by newbie investors or not? Should newbies stay away from it? Any feedback or advice helps guys. I really want to start my journey into real estate investing. I'm just not sure where to sow my seeds. Thanks BP Family!