Virtual Wholesaling?
Real Estate Investor · Newport Beach, CA · Member since 2008 · 35 posts · 5 votes
Anyone out there that has a proven track record with out of state wholesaling I would love to hear how you did this who's system you have followed etc.
Regards,
Tim Krueger
Hey guys,
This is Cris Chico (no.. it's not some virtual assistant that I hired to post something on this forum..)
I don't post to forums usually but I do visit bigger pockets as I believe that Joshua Dorkin is doing a great job in making this the premier open forum in real estate.
I am not commenting here to try and sell you my course but rather clarify something that I have been seeing in these posts.
Virtual Wholesaling is not necessarily about the tactics being used. It is really about not being bound geographically by your market. By using technology to systematize and automate your real estate business so that you can work less and make more money. Many times this could also mean that you are working in remote markets and never meeting personally with any buyers or sellers.
The marketing can be both offline and online.
I have not seen Duncan Wierman's course so I cannot comment on its content but I will make a comment about courses in general.
Most of them will tend to bury you in so many techniques so that you can feel good knowing that you are getting a lot of "bulk". In the end, unless you have staff and assistance you will never implement all of them in an effective manner so that you can monetize the strategy.
One of the biggest problems that I had when starting out was that I was chasing too many "rabbits". Going after every niche and opportunity. Until I focused on one strategy I never really got any traction. The pivotal strategy that I learned was direct mail and as such it is the cornerstone of what we teach.
One of my successful students just did over 50k in assignment fees in his market this past December (last month). Although he is implementing a bunch of the "sexy" tactics that many are teaching such as web 2.0, ebay, etc. all of the leads for the sellers AND the buyers came from direct mail.
Now I am not in any way implying that direct mail is the only way and nothing else works. To do so would be erroneous and misleading.
I will however state that my best advice is to pick a strategy and focus 100% of your effort in making that work. Of course, I am assuming that you have researched this strategy diligently and have confirmed that there is a reasonable level of success that could be attained by such a strategy.
But those strategies can be offline such as direct mail or online strategies such as using web 2.0 properties, google pay per click, search engine optiminzation, etc.
There are many strategies out there. Some of them are fluff. Some of them are hit and miss. And some of them are very sure things. It's up to you to make the right choice.
The one thing to keep in mind that everything appears simple at first but there are always layers of complexity that exist in any strategy.
I always think of driving a car. The concept is simple ..you step in the car .. turn on the ignition and you put it in drive. Very simple indeed. But open up the hood and you will find a complex system to make all that happen.
In real estate you don't have to do it yourself but certainly you have to be aware that you will need to work to get these systems up and running effectively and profitably.
In addition,
Nothing can take the place of fundamentals. I don't care how many seller leads you drive... how many buyers you talk to.... you MUST be competent on the fundamentals of this business.
-Negotiations with sellers
-Working with Buyers
-Property analysis to determine viable deals
There are many others of course but certainly these are the top three in my book.
So on top of executing strategies to find deals and buyers. You also have to make sure that you have sound fundamentals.
And finally,
Don't be mislead by the promise of working 3-4 hours a week and making huge sums of money in real estate investing.
Perhaps after you have set up all of your systems and have staff in place taking care of every detail then you may achieve that "4 hour workweek". But in the beginning you must be prepared to work hard, put in the hours, be frustrated many times, and work within a certain degree of ambiguity.
I tried to make this post informative without making this sound like I am pitching you guys to buy my stuff. It really does not matter if you do or don't. You can be successful with other courses and trainers if you focus and you diligently apply what they teach.
Thanks everyone
Cris Chico
Virtual Wholesaling Founder
Sure sounds like spam to me.
[SOLICITATION REMOVED]
I just purchase Cris Chico materials myself and it defintely not boring or Dry
Greg Park why / Cris Chico /
I am just plain old tired..tired
I been listen to these guys for 2 weeks now
Every week somebody selling something to change Real Estate has we know it
Newbies / Wholesaler / Dummy 101 investing
Dummy 101 investing: myself
I really like Dean Graz , but for their Academy it is about $5000 (650 down payment at 18%)
Enough venting ….
What the difference between Iflip versus
Virtual Wholesaling
( Cameron vs Cris Chico )
Which one is more legit
Anyone of these people to stay far away from :
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Dean Engle
Michael Kimble
Tim Taylor
Jason Gilbert
Mike Collins
John Lane
Susan Lassiter-Lyons
DC Fawcett
Josh Brown & Lou Castillo
Jack Bosch
If your tired about reading these threads, stop reading them. The iflip program of Cameron Dunlap helps you buy REO properties with proof of funds letters and to close with transactional funding.
Cris Chic's program is about virtual wholesaling or wholesaling properties without getting up close and personal with the properties. They are two different programs. Both are legit concepts. Whether or not there programs work better than anyone else's, I couldn't tell you.
One of the gurus you mentioned was Mike Collins. I ordered his Confessions of a Wholesaler last year. The first time I listened to the program, I thought he really skimped on details, but then I listened a few more times and thought it was great. I thought it was really eye opening material. You do need to have a basic understanding of wholesaling before listening to the program. I also heard other videos from him. He knows his stuff and has been wholesaling since 1985. He's very much into Internet based systems to do everything.
Just my 2 cents.
Steve Babiak : I will do that ASAP and before shelling out their $500 1-time sign-up fee
Thank You
DemosL
‘ If you’re tired about reading these threads’ …. sorry for confusing
I meant Gurus steadily emailing me several times a day solicitation
what they have to offer
Just opt out of their mailings.
Does anyone have the virtual wholesaling course and wanna trade another course? I'm a wholesaler here in SC. Thanks
Alright, I want to start by saying I have never done this yet and I'm new to wholesaling, but I think I have a good plan to do it. I'm going to try to break down Virtual Wholesaling seeing as I really want to get into Wholesaling someway.
Now, Maybe this can help out others and this could be a collab work by BP. I just see no better forum post that outlines how to do a Virtual Wholesale without there being a cost somewhere. This outline is made from certain posts all over BP for local Wholesaling taken, organized, and then sifted through to get tactics that could not only work locally but on the internet as well, so I don't claim ownership to any strategies listed.
Now, I've broken down what it takes to do Virtual Wholesaling into three overly simplistic general outline:
1. Find Cash Buyers in that area
2. Find Sellers in that area
3. Make the Contract and Get Paid
That is it to it from what I gathered. Some no-brainers is to have a fax machine and a reliable number to be reached at.
Now if we were to expand on the steps listed it would look like this. Our example area could be Dover, Delaware.
Detailed Overview:
1. "Find Cash Buyers in Dover"
a. Search the area's major newspaper Ads
b. Search Craigslist/Backpage of the Delaware area for "We buy houses" and the such
c. Contact the area's local Realtor to put together a list of the latest 45 foreclosure/distressed properties for you and email them to you, then create a "bait" ad on craigslist offering this list emailed for free with your number or site. Your goal is to use that list to get the buyer information, like a trade of information. My list for your name, number, and buying requirements.
2. "Find the Sellers"
a. Use Bird-dogs too look for and gather addresses,pics, and other information on junk houses and vacant houses in the target area
3. "Contract to Check"
a.
b.
c. Have your assignment fee opened in escrow and wired to your bank account or mailed to you.
Well, this is the best I've come up with for now. Building the buyers doesn't seem to be the hard part, but I'm empty handed in the others.
Yes, Virtual Wholesaling is Very Doable. Let me know if you need any help getting started or ramping up your business to 5-10 deals a month. Mark Van Dyke, Virtual Wholesaler.
I've never done out of state wholesaling, but I have done one successful "virtual" wholesale. I really did it just to see if it could work.
I didn't use anyone's plan, just kind of used good ole common sense.
If you know how to wholesale generally, you can apply the same principle's, except you do everything online or on the phone.
Spoken like a true real estate investor.
My name is Kim Banks and I am having so much fun virtual wholesaling. I have come up with my own system for flipping houses easily. You just have to figure out how to do it simply. Dealing with mailers and spending hours analyzing comps is not the way to go! Keep it simple, and keep it quick. Respond to sellers fast, help them, and be the first to make an offer on their house. Only wholesale houses in areas within 30 minutes of a major metropolitan area. If you get a lead in a rural area, offer to buy the house sub-2 if there's a mortgage on it, or with seller financing if it's free and clear. You do not necessarily have to have boots on the ground. If it's vacant, call a locksmith to put a lockbox on the house. I could go on and on... Just remember, there's not just one way to do it. Keep it simple!
OK Kim, I guess if it sounds too good to be true...or is it? I've done a few flips but I don't know how you write a contract without actually MEETING the seller? How can you build rapport? Credibility? Trust? I'm missing something...
I love virtual wholesaling. I never go to see property, even the one's that I keep. I live just southwest of Charlotte and I just went to contract today on a property that is in Columbia, SC. I went to contract last week and am closing next week in GA. I have one going to contract in Baltimore next week and 4 more pending right now in FL, MD, MI and AZ.
I love this!
You don't need to meet the Seller. I have them take care of the Agreement through DocuSign. I have already built rapport and trust on the phone. Everything is done through the phone and computer.
@Jeff Richman Can you send me the info on the one in Columbia?
@Jeff Richman Please put me on your buyer's list for Charleston and Columbia, SC and their surrounding areas. Planning to partner with an old college friend to start flipping in Charlotte in 2018.
Alright, I want to start by saying I have never done this yet and I'm new to wholesaling, but I think I have a good plan to do it. I'm going to try to break down Virtual Wholesaling seeing as I really want to get into Wholesaling someway.
Now, Maybe this can help out others and this could be a collab work by BP. I just see no better forum post that outlines how to do a Virtual Wholesale without there being a cost somewhere. This outline is made from certain posts all over BP for local Wholesaling taken, organized, and then sifted through to get tactics that could not only work locally but on the internet as well, so I don't claim ownership to any strategies listed.
Now, I've broken down what it takes to do Virtual Wholesaling into three overly simplistic general outline:
1. Find Cash Buyers in that area
2. Find Sellers in that area
3. Make the Contract and Get Paid
That is it to it from what I gathered. Some no-brainers is to have a fax machine and a reliable number to be reached at.
Now if we were to expand on the steps listed it would look like this. Our example area could be Dover, Delaware.
Detailed Overview:
1. "Find Cash Buyers in Dover"
a. Search the area's major newspaper Ads
b. Search Craigslist/Backpage of the Delaware area for "We buy houses" and the such
c. Contact the area's local Realtor to put together a list of the latest 45 foreclosure/distressed properties for you and email them to you, then create a "bait" ad on craigslist offering this list emailed for free with your number or site. Your goal is to use that list to get the buyer information, like a trade of information. My list for your name, number, and buying requirements.
2. "Find the Sellers"
a. Use Bird-dogs too look for and gather addresses,pics, and other information on junk houses and vacant houses in the target area
3. "Contract to Check"
a.
b.
c. Have your assignment fee opened in escrow and wired to your bank account or mailed to you.
Well, this is the best I've come up with for now. Building the buyers doesn't seem to be the hard part, but I'm empty handed in the others.
I actually enjoy dealing with wholesalers. They bring buyers. As an agent, that alleviates some of the work I do and I'm able to share a piece oif the pie with someone.
I would love to learn how you did that