Investor · Westchester County, NY · Member since 2014 · 77 posts · 19 votes
I know there are like a million real estate courses out there are gurus who promote them, but I was wondering if anyone here has any recommendation for a course that specializes in teach how to invest out-of-area, particularly wholesaling. Or, at least, information for out-of-area investing that could be applied to wholesaling.
By the way, I'm sure I'm going to get responses saying things like "you should start in your own backyard." I appreciate the thought, and am even trying that as well, but I do consider my area (the NYC area) very difficult and want to diversify a bit, I guess you could say. I know investing/wholesaling is difficult enough locally, and that doing it long-distance in some ways makes it even harder, but I'm pretty sure there are people who do it, so what I'm looking for is not how hard it is, but how to deal with the difficulties!
I would say the key is to set up the team in the city you are going to be operating in. Real estate agents, bird dogs, contractors , vendors.... basically everything you would need. I have always learned that you make more money by sitting at your desk signing contracts then you do traveling to a town to do the work yourself. If you learn to leverage the right people like @ jean norton from her prior post that would be the best way to go for success.
I've held several field trips to help people with Rehabbing Remotely® and even have one recorded if you're interested. The reason I started them was because so many people in Southern California flooded the market and the margins got very slim. I now invest all over the country, and the last recorded field trip is in Miami. You will get incredible knowledge on how to research, identify, build your team and learn each area's specific challenges - for example cracked slabs in San Diego, Foundation issues in Texas, Termites in Atlanta, etc.
As far as wholesaling, the quick answer is to pay a local wholesaler to bring you a cash buyer. I've done that a lot of times.
I would say the key is to set up the team in the city you are going to be operating in. Real estate agents, bird dogs, contractors , vendors.... basically everything you would need. I have always learned that you make more money by sitting at your desk signing contracts then you do traveling to a town to do the work yourself. If you learn to leverage the right people like @ jean norton from her prior post that would be the best way to go for success.
@Jordan Solomon, Sean Terry has a free podcast that will give you all the basics of wholesaling for free. He doesn't talk about doing it long distance though. He also has an academy that you can join but you really don't need to if you listen to his show from the beginning.
Chris Chico sells a program that he calls virtual wholesaling that teaches people how to do wholesaling from a distance. I've never bought and can't attest to it's value either way. I also recall seeing a guy with video on YouTube about it so you could search there and probably come up with some good stuff. Chico has some free video on there too. Best of luck.
There's a lot of stuff out there on this topic. Cris' program is very technical and a classic in the industry, apparently it was fairly instrumental early in Joe & Alex's careers (from real estate investing mastery). Sean Terry interviewed him on his podcast #64, a very thorough discussion of his method which revolves around marketing to landlords (a very saturated group nowadays).
Anson Young talks about it in his bp podcast and Rob Swanson has a course on it that I haven't seen but he's interviewed by JP Moses on Moses' website.
It seems like a lot or most virtual wholesalers are co-wholesaling nowadays (working with other wholesalers who already operate in the market). That's my impression anyways, and you can find some of them on here.