Virtual Wholesaling, or doing remote deals, can help you achieve financial freedom quicker. There is a big difference between financial freedom and financial stability. There are people out there who say they want freedom, but just want the stability. Financial stability is having a passive income that can cover the bills and everyday costs if you decide you might want to quit your job. Financial freedom is figuring out what your dream lifestyle is and then making the passive income to make it come true. If you want to own a Rolls Royce or fly private everywhere you go, (unless you already have these things) you are looking for financial freedom. You don’t have to have such lofty goals, but the idea is that you get to live the life you want without all the debt and without the stress of trying to make it happen.
Remote Wholesale Deals
There are no rules out there that say you have to live within 10 miles of your investment property. Not one rule. Which means, the world is open for you and you have the ability to work with anyone in the world. There also isn’t a rule that you can’t manage a team from anywhere in the world. People have been trained by corporate America to have a cubicle farm and to stay local, when you could scale everything and make more money and have happier employees.
- Marketing is a great tool for every real estate investor. One piece of marketing people still use is direct mail.
- It works really well and is one of the cheapest leads you can get in marketing. There are many third party companies that will take your postcard, your contacts, put it together, and then mail it for you. You just need access to the internet for their site.
- If you don’t use direct mailers, and you use online marketing, you are already virtual. Done.
- Set up your phone systems correctly.
- You may want to travel and you may not always have service. If you have a internet connection, you can still make phone calls or send out texts. Off the top of my head, I can think of Grasshopper, RingCentral, and Talkroute that are all virtual phone systems. These apps only require internet and you can talk from anywhere in the world. Don’t even worry about international minutes.
- If you want to be virtual, but haven’t made the rest of the employees able to be virtual, you need to wake up.
- No matter how great of a boss you are or how fun and lively the office is– if you’re hardly in the office that means everyone’s job can be remote. Most employees depend on you and if you are only available through phone calls or wifi, they don’t have a reason to be in the office.
- All real estate investing contracts can be e-signed. You don’t need to be there in person to sign them or for the seller or buyer to sign them. Get it under contract before seeing inspecting the property.
- You don’t need to personally inspect the property. You can pay someone to take a look and make a report for you. This is doing a real estate deal virtually.
- But there are people who will insist you look at the property before signing the contract. The person who looks at the deals should be local and you need a backup plan if they are out traveling.
- Hot tip: if the buyer is insisting you look at the property before signing the contract, take a contractor with you. If you have to go to the property you might as well kill two birds with one stone.
If I haven’t answered all your questions in this episode, but you really really want to be remote, I can tell you the secret sauce. Write down every single step of your business. The marketing, deals, selling, buying, investing, assistant work, bills etc. Write it all down. Then ask yourself, can all this be done with a phone call or with an internet connection? If there are things that don’t immediately jump out at you as capable of being virtual, use Uncle Google and see if there are systems out there to make it remote work.
If you love the returns of real estate investing, but don’t want to deal with any people, you have the option to be the bank. You can be part of a trust or a fund. Right now, I have a fund set up for accredited investors with over $5 million in assets. The fund has preferred interest and 70% profit sharing. Visit me at investwithdrmatt.com to find out if you have the opportunity to invest with us.
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