Anybody doing deals from home using only a computer, internet access, and a cell phone?
Virtual investing?
JimFisher said, “Anybody doing deals from home using only a computer, internet access, and a cell phone?”
I know many investors - none doing “virtual investing”. Houses are very hard to buy and sell without looking at them. Pictures and words just isn’t enough to know what a house is all about - they can be very deceiving sometimes. I do know some investors get a lot of their leads, both buying and selling, with websites.
Or, maybe you work virtual, but have inspectors, appraisers, a partner, etc. looking at houses for you (but personally, I wouldn’t do that). I sometimes make offers on houses without seeing them, but I can do that because I have 15 years experience knowing certain areas, houses, prices, etc., combined with address, pictures, size, etc. Also, when I do that, the second my offer gets accepted, I go check out the house and do my inspection (offer subject to inspection - almost all standard R.E. contracts state that).
IMHO, about the only real estate dealings that really lend themselves to being truly close to virtual, would be wholesaling. It can be much more simple than buy and hold or flipping. You would want buy contracts that state you are advertising the house to a big buyers list, and you are only buying it if you are able to sell it. This way, if you get contracts on houses that are not bargains, you can walk away. You build a big buyers list, set up some way for your potential buyers to look at the house, and if somebody wants it, they come to you to do a deposit and contract. Sell only to serious cash buyers that can close fast. I still think it will require some real world work from time to time, but it can come closer to “virtual investing” than anything else.
Hope that helps.
Best wishes,
Chris in FL
I think you will find that the only people that have a favorable opinion about virtual real estate investment are those that are selling some service related to virtual real estate investment.
What he said…
Jack5 said, “I think you will find that the only people that have a favorable opinion about virtual real estate investment are those that are selling some service related to virtual real estate investment.”
That sounds about right to me… Or especially someone selling a course and touting “you can get rich from home sitting in your underwear with virtual R.E. investments”. Sure, and you can win the lottery tomorrow, too. True real estate investing is a business, and a get rich slow plan, that requires a lot more than just buying a stock and waiting for it to go up. However, done correctly, R.E. investing rocks (IMHO)!
I Do Virtual Wholesaling
Hey Jim,
I do Virtual Wholesaling. I do it in many different areas all over the US. And it’s working very well for me. I don’t do it because I’m lazy. I do it because it works for me and I see plenty of potential.
I have partners in those different areas. I have JV agreements with them. I take care of marketing for Sellers and my Virtual Assistants talk to them. My partners are the ones who run comps since they are from the area and go to the properties. They also market to Buyers.
I’m originally from Philly and is now based in Richmond, VA. That’s how I got started to doing virtual wholesaling.
It never hurts to expand your horizons. You can do business many ways, you just have to get creative and be resourceful.
I say, by all means, look into it and see if it’s something you’d like to do. Possibilities are truly only limited by your imagination. 