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During the 2020 pandemic, one of the most popular trending questions became “what is virtual wholesaling real estate?”
Virtual wholesaling real estate is the art and science of wholesaling real estate for bg profits without physically meeting the owner and/or seeing the property.
This question is a little late but no worries,
You can still learn it, use and hopefully learn how to go ahead of the curve in business as you build your career in wholesaling real estate.
Virtual wholesaling is not a brand new solution that came with the pandemic.
It is a solution to the increasing obsession of humans with faster, easier, and simpler need to do more with less resources.
Every business owner should have been paying attention to that and that’s why I wrote a book called “Smart Real Estate Wholesaling” in 2018.
In fact, at about the end of summer 2019, I started telling my students that there is no such thing as non-virtual wholesaling real estate.
Sadly, some gurus were still preaching to people that negotiations are best face-to-face.
I am not surprised.
Virtual wholesaling real estate is the only way to go now.
Even if the subject property is in your backyard, you need to start valuing your time and learn how to use technology to buy more time you should be spending with your loved ones.
Below is a question for us to address with this lesson...
“I am speaking with the owner of an off market 3/1 property in Point Pleasant NJ (beach area), vetting for the contract.
We have been speaking in email and they offer me to go walk the property.
I researched and found they only just bought it in Dec. 2019, these properties are $300K to over $600K & up.
I can't find tax info for some reason and they claim the mortgage is significantly less than what they are asking ($409K) but won't tell me the balance.
The home is pristine & dated, kitchen updated only and detached garage has a 2br with full bath above it not registered as a rental.
Being they bought it a short time ago for $390K, the comps for this would be approx. $359k but they are not showing a similar garage space (wild card).
The ARV would be $449K.
It's also in a zone that is "of minimal flood risk".
Does anyone here have experience with beach home flips?
Is there too much risk here to wholesale?”
Enjoy the video.
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ABOUT YOUR HOST ::::|
Ola "Tux" Abitogun is the Creator of myEmpirePRO and author of Smart Real Estate Wholesaling. He became a FULL TIME entrepreneur in October 2006.
He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.
Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and a father. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers.
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