How Ed Locked Up 2 Virtual Wholesaling Deals for ONLY 2 Cents! | Summary and Q&A

TL;DR

Ed Hayes, The Wholesale Coach, shares his virtual wholesaling strategies, including utilizing SMS text blasting, building a national cash buyer database, and finding the best markets for wholesaling deals.

Key Insights

• 🏛️ Building relationships in the virtual market is crucial for success in virtual wholesaling.
• 🔨 Utilizing tools like SMS text blasting, Prop Stream, and REI Reply can help streamline the wholesaling process.
• 🤝 Analyzing deals based on the ARV, market factors, and cash buyer demand is essential to determine if a deal is worth pursuing.
• 🥶 Hiring a reliable and experienced virtual assistant for cold calling is important for effective lead generation.

Transcript

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Questions & Answers

Q: How did you get started in virtual wholesaling?

Ed Hayes started wholesaling in 2016 after transitioning from his previous job as a certified nursing assistant. He discovered wholesaling as an opportunity to provide financially for his family and avoid being homeless.

Q: How do you find cash buyers for virtual wholesaling deals?

Ed has built a national cash buyer database through cold calling, networking with other wholesalers, and utilizing tools like Prop Stream and REI Reply. Having an extensive buyer list allows him to quickly connect sellers with potential buyers.

Q: How do you determine if a virtual wholesaling deal is good?

Ed advises analyzing deals based on comparable sales, potential appreciation, and repair costs. He also recommends putting yourself in the buyer's shoes and considering their perspective when evaluating a deal.

Q: Can you virtually wholesale from New York City?

Yes, virtual wholesaling can be done from any location. It's essential to build relationships with buyers, wholesalers, and agents in your target market to increase your chances of success.

Q: What should I look for when hiring a virtual assistant for cold calling?

Ed suggests listening to audio samples, conducting phone interviews, and assessing their experience to ensure they are the right fit for your business. It's crucial to find a VA who is comfortable making phone calls and has a good command of the English language.

Summary & Key Takeaways

• Ed Hayes, The Wholesale Coach, discusses his experience with virtual wholesaling, including how he got started and his transition to virtual markets like Las Vegas and Chicago.

• Ed shares his insights on finding deals for under two cents through SMS text blasting and utilizing tools like REI Reply and Prop Stream.

• He emphasizes the importance of building relationships with other wholesalers, buyers, and agents in the virtual market you are targeting.

• Ed also discusses his approach to analyzing deals, including considering factors like the ARV, location, and potential appreciation.