My account was closed temporarily so I'll try posting this again. I'm a part time wholesaler that has recently relocated to outside of the US. I'd like to continue wholesaling in the market I was doing deals in,"virtually", I guess you could say but I am trying to determine the best system to set up in order to be effective.
I know there are a lot of courses out there in regards to virtual wholesaling but I'd like to hear from anyone currently wholesaling from outside of the US or wholesaling in an area far from where they live. I know most of what I'd be doing will be similar as to when I was physically in my market but I do have a few concerns.
My biggest concerns are sellers being wary of working with someone from outside the US ( I'm sure some sellers will ask where I'm located) and not having "boots on the ground" to look at properties for me, as I currently do not have a partner nor know anyone I trust to look at properties for me. I know I could estimate rehab cost from information the seller gives me and pictures, but I have yet to try that.
Any advice on best phone systems to use would be appreciated. I currently use Ring Central which allows me to get a local and 1800 number using voip so I don't have to pay for international calls but I'm not happy with their service. I'm also hoping to get advice as to getting accurate rehab estimates, protecting my contract from buyers going around me and anything else anyone with experience thinks is pertinent. Thank you in advance!
@Ally Parker All of my deals are done virtually. Feel free to PM me. I'd be happy to share what I know.
@Ally Parker , you're going to have to trust someone at some point or virtual wholesaling isn't going to be for you. You'll have to hire or pay someone at some point. Being virtual means not having to physically go YOURSELF. Everyone you send will be a busy partner. After you PM @Jacob Michaels , feel free to message me as well if you still need some extra advice.
Good luck on your journey
I would have focused on getting that person on the ground before I relocated but can't turn back time. You can do it now by doing some networking and research (you can find a lot about somebody online).
You mentioned making offers with information from seller and pics which is definitely doable. Keep in mind that they "forget" half of the things that need repairs or simple don't know so when you do it like that there tends to be a lot more "re-negotiation" once you find out your repair estimate doubles or triples. You have to be extremely thorough when getting the information. Sometimes if they seem "shady" I will throw in things/issues that they didn't even mention just to see how they react.
ME: "So you say thats all the repairs? You said it has a foundation issue?"
SELLER: "Oh no I didn't - but now that you mention it, the floors aren't level and do tilt on the back....."
My best advice if your not a veteran and want to continue virtual wholesaling is find a local partner or "feet on the ground". Add a little faith in people (after researching them). Do some deals!
You might also find yourself saving time with the extra help, and getting double the deals with your extra effort.
Thanks for all the great advice!!
I had "boots on the ground" with a partner I had known for quite awhile but it did not work out so well once I left, which is why I wanted to get some insight on what I might have done wrong. I have some ideas as to why it didn't work but I wanted to know how other people were doing it successfully.
My only other concern, do sellers ever ask where you're located and get skeptical when you tell them you don't live in the city the property is located in, let alone in the country?
I realise virtual wholesaling might not be the best option since I don't have the right partnerships at the moment. Is there another form of real estate you might suggest I get into given my circumstances? Buy and hold is not an option due to lack of funds and I've not rehabbed yet, only wholesaled. Are there other options I'm overlooking?
My personal situation is a little unique since we do 100% online marketing and not direct mailers and other strategies which can cause skepticism. It helps to have branding, professionalism, customer service, and a short story.
Sellers never ask, I tell them upfront but let them know we partner with investors locally (which is true).
What country are you in? Is it not possible to wholesale there? Were you wholesaling in DC before?
@Alex Harris Your tagline at the bottom is interesting. PM me and let me know how we can work together
Hi @Alex Harris, I'm currently in the UK and was wholesaling in DC before. I'm looking into wholesaling here but not sure if it's possible. I've not seen a lot of investors that get all of their deals just from online marketing, that gives me motivation to look into that avenue more, as my strategy was going to be direct mail, thanks.
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