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Real Estate Wholesalers: Now You Can Live Anywhere, Where Will You Live?

by blogger1
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on Thursday, 18 January 2018
BestTransactionFunding

With virtual real estate wholesaling being made increasingly easier, investors can live anywhere they want. Where will you choose to live?

Virtual Wholesaling

Thanks to technology, real estate investors can live in one place, and wholesale houses anywhere in the country. It isn’t just possible, but more accurate than it has ever been before. For many it is an increasing necessity to be able to flip houses in other markets, and to stay diversified in multiple markets in order to keep profits up, business growing, and income consistent.

If you’ve got a laptop, or even just a phone, you can do it.

Driving Factors in Where We Choose to Live

As a mobile business owner, it can seem crazy to hear about people living in the street or out of RVs in high priced San Francisco and other cities. There is just no need to live in super-expensive neighborhoods, when you can work from anywhere. Of course, if those are the places you’d prefer to own your own home, and can afford it comfortably, why not?

Yet, for many others, there is far more profit to be retained, and earlier retirement in more affordable destinations.

Other drivers in this decision of where to have your home base this year may include property tax rates, and limitations on the mortgage interest deduction, and state and local taxes. For others it is being near family. It could be lifestyle. If you love the water, then go live in a top boating, surfing, or diving destination.

Or maybe you still want to optimize where you live for business. That may be in the heart of the most inventory right now. Or where the most investors and capital is located, so that you can build personal relationships.

Destinations

Here are some of the trending destinations this year:

Florida: for the sun, homestead exemptions, and no state income tax

Atlanta, Georgia: for a fast moving property market, fun environment, with all four seasons

Detroit: Still one of the most affordable cities in the US, and a great community of entrepreneurs

Nicaragua: One of the last truly affordable countries left in Central America

Dominican Republic: Proximity to US, easy residency requirements, weather

Thailand: Affordability, weather, culture, and a growing fan base of entrepreneurs

Where will you live?

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Make It Cyber Monday Every Day, With Virtual Wholesaling

by blogger1
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on Thursday, 23 November 2017
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Is virtual wholesaling what you need to make it feel like Cyber Monday, every day?

Cyber Monday is one of the biggest shopping and sales days of the year. Billions of products are bought and sold on this day each year, and the numbers are only growing. It has been severely underutilized by the investment and real estate industry, but holds massive potential for investors. If only every day was like Cyber Monday, investors could be finding a lot more deals, and moving a lot more inventory.

Virtual wholesaling could be the ideal strategy for investors who want to increase their business, and incomes, with the ease of shopping and selling online.

This is also the perfect real estate strategy for those who may have been reluctant to invest before, or who feel held back from their full potential by thinking they have to do certain activities they don’t really care for. Not everyone is an extrovert who loves working on the phone or in-person networking and sales. Others hate the hands on maintenance and tenant hassles and liabilities associated with traditional fixing and flipping or DIY landlording. Some would rather just use email, a mobile phone, or a website and outsourced assistants to make money in real estate. All those are options with virtual wholesaling.

One of the biggest benefits of this approach that may mean the most to many investors is the freedom to invest anywhere, from anywhere. It means you can profit from the most profitable markets as they change, yet live and travel wherever you like.

Wholesaling is also considered the lowest risk real estate investment strategy. It enables investors to get in, out and paid in just days or hours. There is no exposure to market changes. No worrying about getting stuck with a dead weight property.

Perhaps most importantly, wholesaling offering many financial and liquidity advantages. It doesn’t matter how much money you start out with. Sooner or later it gets tied up if you are paying cash for properties or plow it into rehabs. With transactional funding investors can use 100% financing, without needing to tie up their credit, waste time with conventional loans, or burn resources trying to raise private money.

It may not be for everyone, but there are many advantages and perks of virtual wholesaling. If you are doing any shopping this Cyber Monday, or wish your bank account was a little more flush, it’s worth thinking about this as a strategy.

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Using Virtual Real Estate Wholesaling

by blogger1
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on Thursday, 04 May 2017
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When certain trends start to pop up in your market, you could turn to virtual wholesaling. These trends include:

Lower response rates for direct mail marketing

Sellers say they are getting too many marketing offers

Sellers don't seem as motivated as they were last year

These trends often point to a seller's market, which means deal flow will start to decrease. As a wholesaler, this means your marketing budget will go up and your ROI will go down. When this happens, it may be time to pivot into virtual wholesaling.

What is Virtual Wholesaling?

Virtual wholesaling is similar to traditional wholesaling, but allows you to enter into a different markets, remotely. It will include many moving pieces to successfully facilitate the transaction. If you have great conversational skills, excellent organizational skills and the ability to network, you can use virtual wholesaling to your benefit.

Building a Virtual Wholesaling Team

Before you even think about handling a transaction, you need to build your virtual wholesaling team. This team will need to include:

A Title Company

An Attorney

Wholesale Partners

In some cases, your local title company will work great, if they are a national company. However, if they don't handle title on the national level, you will may need to find a title company that does.

An attorney is the next member of your team you will need to find. Getting a local attorney, in the market you're working in, requires good recommendations, which may come from the title agent or even the real estate agent in the local market. Make sure to compare a few options before adding an attorney to your team.

Along with your title company and attorney, a few wholesaling partners can be helpful. Having local JV partners to help you will make selling in a new market much easier. Make sure you put a solid agreement in writing about how you will split the profits.

Enter a New Market with Virtual Wholesaling

Real estate has historically been up and down, favors the buyer one year and the seller the next. As a wholesaler, you have to stay on top of your market, but you don't have to be limited to just your local real estate market.

With virtual wholesaling, you have the ability to enter into any real estate market you want. All you have to do is build your virtual wholesaling team first. Not only will you have the ability to wholesale in a new market, but you may also be able to increase your rental portfolio and even start flipping properties.

 

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.

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