Since you act as a connector between the buyer and the seller, much of the communication takes place over the phone or online anyway. Even within your local market, it isn’t always necessary to see the property you are wholesaling. This is because with wholesaling you don’t actually take possession of the property. Virtual wholesaling is one of the easiest ways to start with virtual real estate investing. With the right tools and knowledge, you can expand your business into untapped markets. Also, invest in the right training to deepen your knowledge of real estate investing. Start with solid research using the vital tools in your toolbox. While virtual real estate expands your reach, you must also be smart about the types and locations of your real estate investments. Through social media sites and a quality website, you can connect with potential buyers and sellers anywhere.Īs with any business deal, it’s important to take virtual real estate investing seriously. Social Media and Website – Today it is easier than ever before to market your real estate investing business outside of your local area.This is a great way to ask questions, build connections to sellers and buyers and find qualified local partners like attorneys, inspectors and lenders. Online real estate investment groups – Specialized online groups allow you to network with real estate industry professionals in other areas.Many counties also list probate, tax delinquent and foreclosure properties online. Local government websites – Most counties and towns have websites with the local real estate regulations and requirements listed.This lets you know exactly what surrounds a property you are considering. Google Earth – Get a satellite view of properties anywhere with a view available from Google Earth.A solid support team – It’s easy to connect with a variety of contactors and freelancers online to support your real estate investment activities.Organized administrative process – Establish an organized process to avoid mistakes and manage your real estate investments in an orderly way.Real estate market reports – The National Association of Realtors and many state and local real estate associations offer online market reports.Online real estate sites – Sites like Zillow offer information and insight into real estate listings and markets around the country.Stay on top of the industry trends and knowledge to ensure you are accessing the most current information and technology. Because this is an emerging concept, new tools are available regularly. The key to success with virtual real estate investing is to have the correct tools in your operation’s toolbox. Embrace virtual real estate for limitless success. Plus, you are no longer limited to the trends and restrictions of your local market.
Virtual real estate investing is here to stay. The real estate industry is also changing due to advances in technology. From the growing number of people who’ve left the traditional workspace to work from home or freelance, to the global proliferation of social media, the world no longer operates by traditional standards. Over the last 10 years, the world has shifted how business is conducted. Don’t get left behind! Take the time to understand the changing world of real estate through virtual, or remote, real estate investing. Virtual real estate investing truly is the future of real estate. With the internet and advanced connectivity options now available, it’s easier than ever to break down the barriers to entry into markets across the country and even the globe. Virtual real estate investing provides a way to invest in real estate deals outside of your local area.