Develop an Effective Virtual Real Estate Investing System

Over the last few years, virtual real estate investing has grown in popularity. Both new and seasoned investors are taking advantage of technology to grow their businesses and reach new markets.

While many investors use virtual real estate investing to connect to long-distance markets, the method also works locally. Virtual investing means not having to be physically present to view or inspect a property. Instead, the investor conducts business via phone or computer without being at the set location.

The Importance of a Virtual Real Estate Investing System

Developing a virtual real estate investing system is crucial to successful investment on a remote scale. Not only do you need to understand the tools and applications for running a business, but you also need to find the best way to locate leads remotely.

Without a system in place, you risk disorganization and allowing the details to fall through the cracks. You may lose business or miss out on opportunities to grow. Take the time to establish a system that works for you to achieve your business goals.

Components of a Virtual Real Estate Investing System

1. Find the right areas

Decide what areas have the most potential based on your primary real estate investing strategy. For example, you may select different markets for wholesaling, fix and flips, or buy and holds

2. Locate potential leads virtually

For virtual real estate to work, you must locate sellers through the internet, from your buyer’s list, or both. Joining a networking community like REIW can help grow your network and expand your lists.

3. Select the best tools

You need the right tools in place to connect to sellers, track your processes, manage projects, communicate, and close deals. You also need people or systems in place to inspect and market your properties, regardless of location.

Of the three components, locating potential leads virtually often feels the most difficult.

Main Ways to Find Leads Virtually

1. Online platforms

Some software programs, like Propstream, are the easiest ways to create a sellers’ leads list. The tool allows you to zone in on specific markets that fit your criteria. Propstream works well to find absentee owners, high-equity properties, and vacant homes.

2. Public Databases

You can access many properties online, like preforeclosures, probates, tax delinquent properties and many other property categories. The best place to find this data is directly from the local government’s office that publishes the data. Many of the records are available online through county websites.

3. Online Advertisements

Facebook and Google ads have become valuable resources in finding motivated sellers’ leads. The ad copy and a speedy follow-up system lead to success when using this strategy for sellers’ leads.

Find Success with Virtual Real Estate Investing

Creating a system to manage your virtual real estate investing business is vital. Develop an automated lead generation process to locate buyers and sellers to expand your reach. When all the parts flow, including marketing, project management, and transaction management, you’ll have a smooth process to grow your business.

Put virtual real estate investing to work for you!