Now is the Time for Virtual Real Estate Investing

The impact of COVID-19 has forced many aspects of our lives to go virtual. Thankfully, with real estate investing, we already had a virtual option. If you haven’t yet tried virtual real estate investing, the time is now.

What is Virtual Real Estate Investing?

Virtual real estate offers an online option to run and grow your business even during times of limited in-person connection. Yet, this tool also works well any time. With the risk of future stay-at-home orders, smart investors will pave a path forward with virtual investing.

In addition, virtual real estate investing provides a way to invest in real estate deals outside of your local area. During uncertain economic times, being able to invest in the best markets matters. Today’s connected world, via the Internet and online tools like Zoom, makes it easier than ever to break down barriers to entry into markets across the country and even the globe.

Virtual Real Estate is the Future

Stay on trend! Virtual real estate investing truly is the future of real estate. Learn about the various ways to use remote, or virtual, real estate investing. This trend didn’t begin in response to COVID-19. Over the last 10 years, real estate moved more online. Today’s current events simply accelerated the dominance of virtual business.

While virtual real estate offers a solution to stay-at-home orders, it is also here to stay. This is good news for real estate investors in that the trends and limitations of your local market no longer determine your success. Thankfully, neither do the ever-shifting government regulations and restrictions.

The Tools for Virtual Real Estate Success

If you’re just beginning to explore virtual real estate investing, consider a few tools to help guide your progress. As an emerging concept, new tools continue to enter the market regularly. Follow the latest news and industry leaders to stay up-to-date on the most current information, technology and regulations.

Video conferencing tools – Online tools like Zoom, Google Hangouts and Facetime provide a way to make a personal connection from anywhere.

Online real estate sites – Sites like Zillow and Trulia offer information and insight into real estate listings and local markets around the country.

Real estate market reports – The National Association of Realtors and many state and local real estate associations offer informative online market reports.

Google Earth – Google Earth offers a satellite view of properties almost everywhere. Use this tool to see exactly what surrounds a property you are considering.

Local government websites – Most counties and towns have websites with the local real estate regulations and requirements listed. Many counties also provide lists of probate, tax delinquent and foreclosure properties online. Also, check the current shutdowns and essential business listings to determine allowable activities.

Strategies for Success with Virtual Real Estate Investing

Online resources are great to link you to important information for markets outside of your local area. Yet, building a strong virtual real estate investing business requires a solid business plan and organized approach.

Organized administrative process – Build an organized process and tracking system to avoid mistakes and manage your virtual real estate investments in an orderly way.

A solid support team – Some real estate activities do require a local presence. That’s where your support team comes in. Connect with a variety of contractors and freelancers online to support your real estate investment activities.

Online real estate investment groups and mentors – Learn from others in specialized online groups that allow you to network with real estate industry professionals in other areas. Use these connections to ask questions, connect to sellers and buyers and find qualified local partners like attorneys, inspectors and lenders.

Social media and website – Market your real estate investing business outside of your local area with your own online tools. Social media sites and a quality website empower you to find potential buyers and sellers anywhere.

Locate the Best Real Estate Markets

One of the best benefits of virtual real estate investing is that it gives you access to emerging markets. Even if your local market isn’t in the best shape, you gain access to those markets around the country with better performance.

Look for areas that will rebound more quickly. Or, better yet, those areas that continue to grow despite economic downturns. Rural areas often have few real estate investors but usually have lower prices and more investment opportunities. In fact, during this current crisis, demand may increase for rural areas.

As you launch your virtual real estate business, focus on a few areas for investment. You can build networks with partners specific to these areas. You can learn the regulations and opportunities in each market for better results.

Consider the Benefits of Virtual Wholesaling

Virtual wholesaling is one of the easiest ways to begin the process of building a virtual real estate investing business. With wholesaling the investor doesn’t take possession of the property. You don’t need to be physically available to thrive with wholesaling.

In fact, with the nature of wholesaling, much of the process takes place online or over the phone. With virtual wholesaling you eliminate the need for any face-to-face contact. Virtual wholesaling is the best first step to virtual real estate investment.

Start Today with the Next Step in Real Estate Investing

Don’t let COVID-19 limit your real estate investment business. Instead, launch your virtual real estate investing business today. Even when we are through this current crisis, virtual real estate will continue as a viable option.