Investor · Chicago , IL · Member since 2014 · 159 posts · 68 votes
11y
Hey Brian, you'd probably want to check out virtual wholesaling. If you learn how to set up your infrastructure and build relationships in your area, it could be a great option for you as you begin REI.
Investor · Chicago , IL · Member since 2014 · 159 posts · 68 votes
11y
Hey Brian, you'd probably want to check out virtual wholesaling. If you learn how to set up your infrastructure and build relationships in your area, it could be a great option for you as you begin REI.
Investor · Lafayette/Baton Rouge, LA · Member since 2013 · 1k+ posts · 915 votes
11y
@Brian Hart It's not something I would recommend, BUT I can say that about a lot of strategies others follow successfully. I think the guy who's doing something that fits your question is Mike Nelson. Check out his podcast:
Investor · Atlanta, GA · Member since 2012 · 408 posts · 37 votes
11y
Yes, it can be done. I've bought and sold 8 houses this year, 100% online. I have 2 more in closing, 3 on the market, 2 under repair, and 4 that are currently rented or on the market to be rented.
I live in Israel and all of these transactions are in the states.
Yes, it can be done. I've bought and sold 8 houses this year, 100% online. I have 2 more in closing, 3 on the market, 2 under repair, and 4 that are currently rented or on the market to be rented.
I live in Israel and all of these transactions are in the states.
How many deals did you do "in person" before you moved from the states?
I do about 20-30 deals per year without leaving my house as well...but that was after doing about 100 of them where I did have to leave the house. The OP appears to want to never leave his house, even as he's learning the business.
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
11y
@Brian Hart The question is, what is the reason you never want to leave your house? Though it may be possible, it would be extremely difficult. Deals would need to be profitable enough to be able to justify someone to do all the physical inspections, manage rehabs, etc. The other option would be doing wholesaling, etc. as also was mentioned.
Investor · Atlanta, GA · Member since 2012 · 408 posts · 37 votes
11y
@J Scott , the bulk of my deals were from abroad, but I was fortunate to have family on the ground for ~20 deals. This year however we have all been "tele-commuting" for these deals.
The first deal that I did that was truly telecommuted, was a $2,500 investment. I think that @Brian Hart , should definitely get his feet wet before doing deals of major significance.
Real Estate Investor · Victorville, CA · Member since 2012 · 12 posts · 0 votes
11y
Hmm very interesting posts. Can somebody lead me or give information on wholesaling online? I still on a daytime job and need to go back to RE investing. I did rehab, flipping and lease options prior to the market crash. So I'm trying to find another way to supplement or replace my job income. I'm nearing retirement by the way and I live in Southern California. Any info is highly appreciated.
Indianapolis, IN · Member since 2014 · 4 posts · 0 votes
11y
Its not that i dont want to leave my house. Its just that i dont have a car to go where ever houses are. i thought i'd ask. this topic has gotten a lot of replies so thats good.
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
11y
@Brian Hart I applaud you for looking at the options that might work with your situation. One thing I know is that no matter what your circumstances, if you look at all the possibilities, and find one you CAN do, you can take the first step, then the next, etc. Hang in there, and keep us posted!
I am not sure of any aspect of REI that you will be successful at 100% without leaving the comfort of your house. Even tax deed and liens that many people hype about, you need to have a team on ground to do the leg work.
Am afraid, I have to agree with @J Scott : if you don't want to leave your house to do the business of REI, you will need to look elsewhere. I believe that REI is a people business.
Its not that i dont want to leave my house. Its just that i dont have a car to go where ever houses are. i thought i'd ask. this topic has gotten a lot of replies so thats good.
Get a job, save $1000, buy a junker and then jump into RE...
Spend the time between now and when you have the car to read, read, read and read some more, so you're prepared to hit the ground running (driving!) as quickly as possible.
Rental Property Investor · Beverly Hills, CA · Member since 2014 · 472 posts · 272 votes
11y
It sounds like you are new to RE and investing. That being the case, virtual wholesaling is not something I would recommend you jump into. It's not a get-rich-quick business and it requires knowledge in a lot of different areas in order to be successful.
I'm currently in the beginning phases of virtual wholesaling and I can tell you that it takes startup capital, boots on the ground in the area you are working in, the ability to estimate rehab costs without seeing the property with your own eyes, etc.
If I were you, I'd keep it local. Use public transportation if you have to, but I wouldn't recommend you try to wholesale virtually until you've gotten more hands-on real estate experience.