Virtual wholesaling

[Account Closed]

Hi everyone ! I'm a new investor from San Diego and I'm trying to get my first deal under my belt . I'm looking to invest "virtually" out of state . Is there anyone out there that can share their systems they used to get this done without boots on the ground ? I want to be able to wholesale so who would get the contract physically signed ? Do I hire from Craigslist ? I listen to bp podcast everyday and still haven't found the info I'm looking for !

[Rob Rice]

Hey Zac, Welcome to BP. 

You can do it, however I suggest you get your feet wet by doing a few deals in your market so you can actually participate in the process first. After that, do some virtual deals in your market. I do wholesale properties virtually in markets that I have never even step foot in. My process is contacting people in the area who are doing deals currently. Once you identify what market you want, (look around in BP to get ideas for market selection in the wholesaling business. Everyone does it different.) Simply go to craigslist and contact the guys who have wholesale deals in that city. Talk to them, and let them know that your going to be doing some deals, and ask them to help you evaluate and sell your deals that you lock up. Do your own do diligence also. Look at deals that other guys are trying to wholesale. Look at there numbers, try to evaluate in the same way for that same market, and ask questions. Talk to agents, members of that local REIA, and people who are actually in that market. Don't try to look like a bigshot. Trust me. Guys that do deals will tell you. We know newbies. I can't stand the person who plays as if they know so much and then turn out to be time wasters. Before I do business with another wholesaler to do a virtual deal, I'll ask them about some of there deals. Most of the time if an investor doesn't want to share some of his deal information, then he is either not a good partner or just not doing deals anyway.

There are a few virtual courses that I used when I got started, and I would be glad to share some info with you. 

Good luck, and connect if you want.  I'm an open book, and a true wholesaler.

Rob.