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Virtual Real Estate Investing – The Future of Real Estate
Virtual real estate investing provides a way to invest in real estate deals outside of your local area. 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 truly is the future of real estate. Don’t get left behind! Take the time to understand the changing world of real estate through virtual, or remote, real estate investing. Over the last 10 years, the world has shifted how business is conducted. 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.
The real estate industry is also changing due to advances in technology. Virtual real estate investing is here to stay. Plus, you are no longer limited to the trends and restrictions of your local market. Embrace virtual real estate for limitless success.
Tools of the Virtual Real Estate Trade
The key to success with virtual real estate investing is to have the correct tools in your operation’s toolbox. Because this is an emerging concept, new tools are available regularly. Stay on top of the industry trends and knowledge to ensure you are accessing the most current information and technology.
- Online real estate sites – Sites like Zillow offer information and insight into real estate listings and markets around the country.
- Real estate market reports – The National Association of Realtors and many state and local real estate associations offer online market reports.
- Organized administrative process – Establish an organized process to avoid mistakes and manage your real estate investments in an orderly way.
- A solid support team – It’s easy to connect with a variety of contactors and freelancers online to support your real estate investment activities.
- Google Earth – Get a satellite view of properties anywhere with a view available from Google Earth. This lets you know exactly what surrounds a property you are considering.
- Local government websites – Most counties and towns have websites with the local real estate regulations and requirements listed. Many counties also list probate, tax delinquent and foreclosure properties online.
- Online real estate investment groups – Specialized online groups allow you to network with real estate industry professionals in other areas. This is a great way to ask questions, build connections to sellers and buyers and find qualified local partners like attorneys, inspectors and lenders.
- Social Media and Website – Today it is easier than ever before to market your real estate investing business outside of your local area. Through social media sites and a quality website, you can connect with potential buyers and sellers anywhere.
Make an Educated Investment Decision
As with any business deal, it’s important to take virtual real estate investing seriously. While virtual real estate expands your reach, you must also be smart about the types and locations of your real estate investments.
Start with solid research using the vital tools in your toolbox. Also, invest in the right training to deepen your knowledge of real estate investing. With the right tools and knowledge, you can expand your business into untapped markets.
Virtual wholesaling is one of the easiest ways to start with virtual real estate investing. This is because with wholesaling you don’t actually take possession of the property. Even within your local market, it isn’t always necessary to see the property you are wholesaling. Since you act as a connector between the buyer and the seller, much of the communication takes place over the phone or online anyway. If you’re ready to explore virtual real estate investing consider virtual wholesaling first.
Other types of investments also work great through virtual real estate. Both short-term vacation rentals and long-term rentals are a good virtual investment option. Partner with a local property manager to handle the day-to-day hands-on operations for the property. Otherwise, you don’t need to be local to make a profit through rental properties.
Probate real estate investments and tax delinquent properties are also a good fit for virtual real estate deals. Whether you plan to flip the property using a local contractor or resale the property, these deals are a great way to expand your reach and find investment properties outside of your market.
Target the Right Real Estate Markets
This is where it is critical to do your research using local market reports. The greatest benefit to virtual real estate investing is that it gives you access to emerging markets even if your local market isn’t in the best shape.
Seek out markets with low prices ranges but predicted growth. Oftentimes, rural areas have few real estate investors, but may have desirable prices and plentiful investment opportunities. Virtual real estate investing offers you a way to avoid saturated markets.
Another way to stay on top of your investments is to target a few areas and focus on deals within those areas. You can build networks with partners specific to these areas. This also makes it easier to travel and connect with your properties and local partners.
With all of the online tools available, it is now easier than ever to locate resources to give you the knowledge and connections you need to find success in diversified areas. With a little hard work and dedication, you can position yourself to grow your profits through virtual real estate investing.
Don’t Get Left Behind – Stay on Trend
The hottest trend in real estate investing is virtual real estate. This emerging industry sector isn’t going anywhere. In fact, it’s the future of the real estate investing industry. Start today building your knowledge of virtual real estate.
Connect with an experienced and knowledgeable real estate investing coach. Laura Alamery, Real Estate Investing Mentor, offers a variety of tools to connect you to the information you need to be successful, including blogs, videos, webinars, eBooks, online courses and live events. Sign up today for a discovery call to get started on the road to virtual real estate investing.