I've seen many thing online claiming that you can do a wholesale deal without leaving your home or on vacation. I was wondering if anyone knows how this works since you are not seeing the property or meeting with seller's or buyers.

Some Guru's sell courses on this. I was wondering if anyone has tried any of these courses and does it really work??

Listen to podcast 37: http://www.biggerpockets.com/show37

Aaron talks about how he managed to wholesale a property from across the states without even seeing the property or meeting anyone involved in the deal. 

Id think this would be a VERY risky way of investing compared to methods but it can be done...

What attracts you to virtual wholesaling? 

Thank you @Kyle Gregg  

Being able to invest anywhere in the country from your home is very interesting. Im sure its very challenging to do.

Why not try marketing around your area? Meet with other local investors...people that would be buying your wholesale deals. Having a solid network would benefit you tremendously.

Investing across the country sounds crazy...what if the deal goes bad and youre stuck with a property you cant sell thats thousands of miles away?  

Speaking of virtual wholesaling, are you a realtor or a wholesaler @Kyle Gregg  ?

I'm wholesaling in NJ and I'm gonna start spreading my wings in maryland and PA.

@Nathan Paisley  unfortunately, i'm neither. 

If you're looking for boots on the ground investors, definitely do some searches with Maryland/Baltimore keywords...you'll find the bigwigs of this area pretty quickly

Thanks @Kyle Gregg  I'll be doing that shortly. Thought I'd ask. 

Nathan

@Kyle Gregg  I agree with you it would be best to market and sell in my area. I just saw this virtual wholesaling thing and it peaked my interest a little bit so i thought I would look more into it.

As far as being stuck with a property thousands of miles away as a wholesaler there are clauses you can put in the contract that will allow you to walk away from a deal protected.

I was just wondering how the whole process works being that you are not meeting with anyone or even seeing the property yourself.

@Christopher Andujar  , did you read what just happened there? Networking! Across State lines or across the globe need be no more complicated than asking the right questions in the right Forums, then following up with the right people. No money down, and likely receiving more rounded information than is provided within the "captive audience" Seminars. 

"Some Guru's sell courses on this". Yes. THAT is how THEY make their money! Cheers...

@Christopher Andujar  I've done it by partnering with a local wholesaler. You focus on the leads and then they do everything else. If you have someone that you can trust this can work well. 

Thank you for  @Derek Carroll  

Most of it is done from a ton of networking, and craigslist. Well at least thats how my deal went. It can be difficult, but that all depends on the people you know.

Thank you everyone for you inputs! 

Like i said I saw some things online about it and it just peaked my interest. I was just wondering if this was a real thing. I didn't say i was going out today to try this. 

@Nathan Paisley  I recently moved from atlantic city to overbrook Pennsylvania and let me tell you opportunity is grand here. I Have roughly 1000 mailers I'm putting together right now. I will let you know the outcome. If you want to know something about a certain area beforehand just contact me.

Sounds awesome @Abu Kemahj  good luck!

@Christopher Andujar  @Kyle Gregg  @Nathan Paisley  @Abu Kemahj  @Chaz Reid  @Derek Carroll  I exclusively wholesale virtually. It's only as risky as your process and contracts are. The way I do it, it's nearly zero risk, except for the thousands I spend every month in marketing money. I've closed both contract assignments and double closes this way. 

I used to use a guy on the ground to take pictures for me and do up a simple repair list, but it's not completely necessary. Your buyers will be able to give you the feedback you need.

I did learn virtual wholesaling from Cris Chico, who has a pretty good course about it. But you'll have to pick up a few details on your own (for example try figuring out how to post on Craigslist for a town that's far away---it doesn't let you). I'd also highly recommend learning from Sean Terry, as his stuff is super thorough, and most of his information he makes available for free. 

Wholesaling is the same no matter your location. You just need good tools and need to learn how to use them. The hardest part of doing it virtually is getting good at closing deals over the phone. 

Or as another poster said previously, you can bring the leads and partner with a local wholesaler, which sounds like an excellent idea.

Feel free to PM me if you have any questions. 

Thank you @Jacob Michaels  this was very helpful!

@Christopher Andujar I am wholesaling virtually.  I have a guy on the ground who does inspections and takes pics and I net work with other investors/wholesalers there.  I also have a property manager that helps me and I refer him business.  I have a realtor I am working with also and I am doing the direct mail. I also have a built in buyer who is rehabbing in multiples states.  If you have questions PM me.

Thanks @Jason Johnson

 I will definitely reach out if I have any questions.

I'm willing to be 'Boots on the Ground' for you in Manhattan, NY if you could use me... or know of a good investor that does need my service.

Thanks!

Chris 

@Christopher Andujar @Jacob Michaels  

Thanks for the encouragement. I have to work virtually, since I live overseas. My biggest hang-up is how to show the property.  In this thread, partnering up with either agents or property managers has been mentioned.  I was wondering what kind of arrangement you should inquire about when starting out. 

Any information about how to show properties when working virtually will be so appreciated.  I also bought Chris Chico's course and this is (maddeningly) fairly glossed over, which seems like a big oversight for a flipping virtually course.  I do appreciate a lot of the information in it though.

Originally posted by @Nathan Paisley :

Speaking of virtual wholesaling, are you a realtor or a wholesaler @Kyle Gregg  ?

I'm wholesaling in NJ and I'm gonna start spreading my wings in maryland and PA.

New Jersey seems like a great place to land some deals. I am currently in VA and I am looking to wholesale in NJ. What makes you want to venture south? Or I should ask, how is it working out for you being that this is a year old post?

Hi @Aishah Amina I wanted to expand but wasn't able to do it, not enough time. We ended up focusing our efforts on rehabbing houses and we fixed up 3 of them in addition to wholesaling. It's been a crazy year. 

For me, the trick to virtual wholesaling is to market every day for sellers.  You need to get the deal flow consistently going so that your supply of seller's never stops.

When I first started I would look for sellers and then as soon as I had a property under contract, I would stop marketing and instead focus on trying to sell/assign my contract.  BIG MISTAKE! Because after I sold my contract, there were no more deals in my pipeline and I had to start marketing all over again. This made my business have lots of up and downs.

I eventually hired a VA to keep my marketing going on a regular basis.

Yep we use a VA for all of our marketing. It's a game changer.