Is virtual wholesaling even realistic?

[Julian Pilate-Hutcherson]

I recently listened to a couple podcast episodes about how a successful wholesaler was tying up great deals in his local market. He eventually decided to venture out to a market 4 states away. He was able to utilize the internet to find vacant properties and distressed property owners with no ease, however, when it came to convincing a seller to sign a contract with him (a total stranger that the seller has never met in person) he found great struggle. Maybe I am short sighted, but if I was a seller, why would I ever want to make one of the largest transactions of my life with a stranger, whom I have never seen or met in person before and only got in contact with from a piece of direct mail? I have heard of wholesalers being successful this way, but not often. 

Given that it's not likely that successful negotiation can be made solely over the phone, have you heard of many cases where this business model is profitable or even worth the time and energy?