Here at Skip Genie we talk to virtual wholesalers quite often. Some of our clients live as far away as Canada and make a comfortable living by virtual wholesaling properties in the United States, but when a lot of people first hear about virtual wholesaling they don’t believe it’s possible. In fact, some people we know who have become successful at virtual wholesaling initially thought it was a boatload of crap when they first heard about it!
After all, how can you wholesale houses that you can’t visit…?
Make JV’s to make virtual wholesaling possible
An essential component to virtual wholesaling is making good JV’s in the markets you get properties under contract. Your JV’s can go on appointments, walk the properties, and If the homeowner wants to meet, you can send your JV to their property on your behalf.
Expect and accept commission splits
True, having JV’s means that you’ll be splitting your profits with them, but there is plenty of money to go around when you learn how to virtual wholesale properties that are thousands of miles away from you. You’ll also be able to get more targeted leads because there will be more properties that meet your criteria (deceased, vacant, high equity properties for example) when your able to do business internationally.
Simple metrics for virtual wholesaling
If you’re interested in virtual wholesaling, following the metrics below will help you close deals:
- Find a certain amount of properties
- Make a certain amount of phone calls
- Talk to a certain number of people
- Generate a certain number of leads
- Get a certain number of properties under contract
Rinse and repeat.
It’s important for you keep at it everyday, and that you allow yourself to make mistakes. You WILL make mistakes while you’re learning how to virtual wholesale, but each mistake is what tutors you in how to become a successful virtual wholesaler.
Weekly coaching calls
As mentioned earlier, we have clients who are successful at virtual wholesaling, and sometimes they get on our weekly coaching calls and tell their success stories of how they used our Skip Tracing services to help them close deals doing virtual wholesaling. Their stories are full of gold nuggets, as they talk about solving title issues and overcoming common objections that they faced along the way to closing the deal.
If you’re interested in accurate data that connects you with home sellers and good real estate coaching that covers a wide range of real estate investing topics, sign-up here for one of our plans. During these coaching calls you can ask questions, listen to success stories, and who knows…you just might learn a few tricks about Virtual Wholesaling.