Wholesaling long distance

[Kim Handelman]

Hey Everyone,

I have a friend who is a flipper in Milwaukee who asked me to partner with her to help her find houses. How does a long distance wholesaling business work? She would be boots on the ground. How do we split profits if she is doing some of the work? Does anyone have experience with building a relationship with the seller via phone and then handing that relationship over to someone else to go look at the house? For me I build trust and so when I go see the property they trust me so feels awkward to have someone else show up.

[Rebecca Knox]

We've done several virtual wholesale deals. It works out well and helps expand your market. We take the calls and we've never had an issue. We tell the buyer that our partner will be coming to view the property. Typically our partner will take the photos/video and we will call back and finalize the deal. From there the person who has the 'boots on the ground' does all the physical tasks for the deal such as hanging signs around the property, showing the property to our perspective partners, etc. We handle all the negotiating of the contract, marketing the contract and the paperwork side. The split depends on the situation.