All Forum Posts by: George Beale

Over the last I say 6 months, I have heard several people talk about "Virtual Wholesaling"

Can anyone give me a rough explanation of what "Virtual Wholesaling" is.

I remember reading about one guy who did it, and all he did all day long was either text message or email the people he out sourced too.

The role he was playing, I couldn't figure out where he fit in, because he was messaging mainly wholesalers, and then a few other key people as well. Like title companies etc.

Sounds interesting, but I just keep finding generic information on it.

That would be really helpful. After the beginning of the year, I plan to get into property preservation work, and start doing some other stuff, so it would be a lot easier.

Thanks for the reply.

When you click on "companies" under "network" it brings up all companies in the directory.

Is there an option to choose ones in a specific state or area? I would like to connect to companies in my local area.

A client of mine has 14 apartment buildings up for sale. This is one of the only areas I see for commercial, but can someone tell me if I am allowed to post deal details here?

Thanks.

My apologies, but I am not 100% sure what you are referring to.

Well I give Marie Poe some props with moving properties and never do one ounce of due diligence for her buyers.

Even though it may seem redundant and not your job, buyers appreciate it a lot more than you realize, and that is why many, go back to those wholesalers that actually put in the effort.

Buyers are wanting to buy with less stress, frustration, and headache as possible. The more they buy, the more you make, right? Of course.

If a buyer is taking all their time in running comps, repair estimates, etc, etc....when the heck are they buying???? Their not.

On my website, I have a simple form for any potential buyer to fill out. Tells me what properties they are looking for, what minimum bedrooms and bathrooms, what price range they can afford, how fast they can close, what funding they have, can they POF, etc.

Put it all into a database, and from there, it is easy to generate a mailing list.

However, if you got say 50 buyers, just market to say 5 of them. If they all past, go to the next 5, etc.

A lot of buyers will tell you straight up, to only contact them when you have exhausted other resources as they dont play the bidding war game, and trust me when I say, a lot of them done.

I will say this, as everyone knows from my intro post, I am new to wholesaling, but before wholesaling I did seller financed paper, and that is NO different then wholesaling, except now I am after properties and not the liens on the property.

Appreciate that. Will get that set up later today. Never know when it will be beneficial.

Well one thing that I have also learned is most wholesalers, if they are making over $5,000 on the deal, with do a simo, so therefore the investor wont know what they are really making.

For me, I rather just be fully transparent about it all, and let the investor decide if they want to deal or not, instead of wasting money on a transfunder, but that is me.

I have been searching site after site, and I cant seem to find one that has a Joint Venture Agreement for wholesaling, when dealing with another wholesaler. Whether simple or long winded.

I have everything else in order, but this, I just cannot seem to find. I can find just about every other type of form out there for RE investing, but this.

Could someone point me in the right direction?

I agree with Sarah S. The companies that do wholesaling nationwide will either go to the property physically (fly, drive, train etc) and do their due diligence, or they will hire a Bird Dog, or put an ad on craigslist for someone to go and take pictures, etc.

Depending on the situation, the seller could also do this for you, but just ensure that they send you photos of everything.

Another thing to keep in mind, is if they tell you that some repairs are needed, don't just take their word or guess on what needs to be done and at what amount. Look for contractors in that area and have them go out and look and send a report to you. Most contracting companies will go and provide you a FREE estimate.