My Honest Advice for Virtual Wholesaling Success (2022) | Summary and Q&A

TL;DR

Learn valuable tips and advice for achieving success in virtual wholesaling, including finding buyers, dealing with unique challenges, and assessing properties.

Key Insights

• 👥 Virtual wholesaling requires finding buyers in unfamiliar areas, which can be challenging but is possible through networking and leveraging local real estate investor groups.
• 🤝 When dealing with properties in rural areas with no comps, finding the rental value of the property can help estimate its worth based on cash flow.
• 😍 Sellers who are in a rush to sell may be more receptive if you take the time to explain why you need to ask questions and gather information before making an offer.

Transcript

my honest advice for virtual wholesaling success what's up guys zakid here and in today's video i'm just going to be spitting game on my honest advice for what you need to know about virtual wholesaling success i've talked with someone who is trying to get started in virtual wholesaling and i break down exactly the tools and the success and what yo... Read More

Questions & Answers

Q: How can I find buyers for properties in unfamiliar areas?

One option is to partner with someone who has connections in that area and can help you find a buyer. Additionally, you can join local real estate investor groups on Facebook and promote your deal there.

Q: How do I assess the value of a property with no comps?

Use websites like Rentometer.com to find the rental value of the property. You can then use a rough formula to estimate the value based on the cash flow. Alternatively, reach out to local realtors for their professional assessment.

Q: How do I approach sellers who are in a hurry to sell?

Address their concerns by explaining that you need to gather information in order to make an informed decision. Ask them if they've ever purchased a used car and relate the experience to buying a property – it takes time and due diligence to make the right decision.

Q: What strategies can I use to assess the cost of renovating a fire-damaged property?

Utilize the rehab calculator on websites like Blue Hammer (available on propstreamlistrei.com) to get an estimate of the renovation costs. This tool allows you to select the specific renovations needed and provides a cost breakdown.

Summary & Key Takeaways

• The speaker provides honest advice and tips for virtual wholesaling success.

• They discuss finding buyers and overcoming the challenge of working in unfamiliar areas.

• They offer suggestions for dealing with properties with no comps and fire-damaged properties.