Virtual Wholesaling?

[Tim Krueger]

Anyone out there that has a proven track record with out of state wholesaling I would love to hear how you did this who's system you have followed etc.

Regards,
Tim Krueger

[Cris Chico]

Hey guys,

This is Cris Chico (no.. it's not some virtual assistant that I hired to post something on this forum..)

I don't post to forums usually but I do visit bigger pockets as I believe that Joshua Dorkin is doing a great job in making this the premier open forum in real estate.

I am not commenting here to try and sell you my course but rather clarify something that I have been seeing in these posts.

Virtual Wholesaling is not necessarily about the tactics being used. It is really about not being bound geographically by your market. By using technology to systematize and automate your real estate business so that you can work less and make more money. Many times this could also mean that you are working in remote markets and never meeting personally with any buyers or sellers.

The marketing can be both offline and online.

I have not seen Duncan Wierman's course so I cannot comment on its content but I will make a comment about courses in general.

Most of them will tend to bury you in so many techniques so that you can feel good knowing that you are getting a lot of "bulk". In the end, unless you have staff and assistance you will never implement all of them in an effective manner so that you can monetize the strategy.

One of the biggest problems that I had when starting out was that I was chasing too many "rabbits". Going after every niche and opportunity. Until I focused on one strategy I never really got any traction. The pivotal strategy that I learned was direct mail and as such it is the cornerstone of what we teach.

One of my successful students just did over 50k in assignment fees in his market this past December (last month). Although he is implementing a bunch of the "sexy" tactics that many are teaching such as web 2.0, ebay, etc. all of the leads for the sellers AND the buyers came from direct mail.

Now I am not in any way implying that direct mail is the only way and nothing else works. To do so would be erroneous and misleading.

I will however state that my best advice is to pick a strategy and focus 100% of your effort in making that work. Of course, I am assuming that you have researched this strategy diligently and have confirmed that there is a reasonable level of success that could be attained by such a strategy.

But those strategies can be offline such as direct mail or online strategies such as using web 2.0 properties, google pay per click, search engine optiminzation, etc.

There are many strategies out there. Some of them are fluff. Some of them are hit and miss. And some of them are very sure things. It's up to you to make the right choice.

The one thing to keep in mind that everything appears simple at first but there are always layers of complexity that exist in any strategy.

I always think of driving a car. The concept is simple ..you step in the car .. turn on the ignition and you put it in drive. Very simple indeed. But open up the hood and you will find a complex system to make all that happen.

In real estate you don't have to do it yourself but certainly you have to be aware that you will need to work to get these systems up and running effectively and profitably.

In addition,

Nothing can take the place of fundamentals. I don't care how many seller leads you drive... how many buyers you talk to.... you MUST be competent on the fundamentals of this business.

-Negotiations with sellers
-Working with Buyers
-Property analysis to determine viable deals

There are many others of course but certainly these are the top three in my book.

So on top of executing strategies to find deals and buyers. You also have to make sure that you have sound fundamentals.

And finally,

Don't be mislead by the promise of working 3-4 hours a week and making huge sums of money in real estate investing.

Perhaps after you have set up all of your systems and have staff in place taking care of every detail then you may achieve that "4 hour workweek". But in the beginning you must be prepared to work hard, put in the hours, be frustrated many times, and work within a certain degree of ambiguity.

I tried to make this post informative without making this sound like I am pitching you guys to buy my stuff. It really does not matter if you do or don't. You can be successful with other courses and trainers if you focus and you diligently apply what they teach.

Thanks everyone

Cris Chico
Virtual Wholesaling Founder