Virtual wholesaling
Hi, im a new investor and i would like to deals jn the comfort of my home, is it possible to find a seller and buyer and close on a deal without meeting the buyer or seller in person?
Most Popular Reply
Yes, it is possible, with lots of experience and a great reputation.
Good luck, I see this as being very difficult, borderline impossible.
- Curt Davis
Yes, it is possible, with lots of experience and a great reputation.
about as possible as wholesaling off the MLS, its possible but definitely not probable with out a lot of experience, knowledge and solid buyers waiting to buy your deals who don't have time to work the mls....
As already said of course it is possible but it is hard to do. Gurus love to pitch the idea because it is appealing but I have been doing this 10 years and i wouldn't even waste my time trying.
Assuming you mean do deals long distance, how are you going to do Due diligence from afar? How are you going to learn the market? How are going to evaluate a deal, if you don't know your market? Since you are new how can you evaluate someone who might help you as Boots on the ground in that far away market?
Even if you want to do deals locally why increase your risk by not going out and evaluating for yourself? Now if you want to partner with someone locally who will do the tasks you don't want to do or has better skills for than you - now that is a workable model.
lets say i did my due diligence, and i wanted to fax or email the contract to them and they email it back , and my title attobry handles the closing for me and ill just lay back and recieve my check
Wholesaling is probably the most "hands-on" aspect of Real Estate. It may be possible to do it virtually, but I think it will be very challenging to get started.
Who is a motivated seller more likely to sign a contract with at a workable price - the guy at a computer three states away or the guy sitting at the kitchen table?
I think the financing-side e.g. buying notes is more likely to work in a virtual situation. It requires knowledge and capital to be successful in that.
It is possible to find sellers from home and possibly get a contract via mail, however, there are more tasks necessary to build a successful wholesale business. As mentioned by the other investor posts to your question, there are many activities you may want to do to that involve interacting with people in a more direct manner.
Real estate is a local business for the most part. Knowledge of an area of interest is important. You will have to do your diligence in order to understand the market and what is happening in the area. It helps to get out and see with your own eyes what is around you and to think about the the possibilities that are in your own area. Everywhere and in every neighborhood situations happen that stimulate people to sell. Know one knows exactly where the the motivated sellers are unless they are actively prospecting to find them. In this regar, the playing field is level.
Find out what you are good at doing and improve upon it. Look for ways to enhance your learning that you enjoy and put your time and money behind your drive forward to reach your goals. Any business you are interested in building is worth giving your best attention and talents to its nurture so you can receive an ample harvest from your effort.