Virtual Wholesaling Step By Step Checklist

I’ve gotten a lot of comments and questions about Virtual Wholesaling lately… specifically about the inner workings of the system.

I know that many of you have my Virtual Wholesaling Blueprint but I wanted to lay out the system for everyone.

The simple explanation

  • Choose your market (I always recommend staying local in the beginning to keep things simple)
  • Go online and find motivated buyers and sellers via (Listsource and Realquest)
  • Sift and sort the lists you got to eliminate duplicates (and corporations from sellers list).
  • Go to Click2mail.com and upload the the list of buyers and sellers (separately of course).
  • Get a 24 hour recorded message hotline and record a buyer and seller message (I give you these in  Virtual Wholesaling.)
  • Re-create my postcard in Click2mail (I give you one of my postcards in Virtual Wholesaling )
  • Send out your postcards (I would only do no more than 1,000 the first time since you may get inundated with calls)
  • Speak to the sellers that left messages to find the good deals.
  • Agree with sellers on price and terms and put under contract with inspection period the good deals.
  • Mark up the price of the property so that you can make an assignment fee (the assignment fee depends on the value of the property and how much of a good deal you are getting)
  • Post your deal on your buyer’s website and then send direct mail campaign to the buyers via click2mail. (The postcard directs the buyers to both the website and your toll free 24 hour recorded message)
  • Agree with buyer on price high enough for you to make a profit (and then you’ll get them to fill out an “assignment of contract”)
  • Follow up with all parties and make sure the deal closes.

Note: Don’t sign up with either Listsource or Realquest on their website or by calling their 1-800 number. You ARE NOT going to get the best deal. You MUST contact them via my rep there (info is in Virtual Wholesaling

Now if you are not able to sell the property, you’ll simply cancel the contract with the seller

I can’t go over the entire system in a blog post like this.

But I think having this simple checklist will give you a good idea of all the moving pieces.

You’ll learn all of the above in great detail in my Virtual Wholesaling, which is a complete video based training to do the entire marketing PLUS additional training on speaking with buyers and sellers and closing deals.

The system has been proven by many of my students to work BUT you have to take the time to implement it.

The great thing is that once you have all the pieces in place then you can run it with very little work. In fact, once you have it down you can train a Virtual Assistant to do most of the work for you.

But for most people it will take 2-4 weeks to get all of the pieces in place and be ready to start doing marketing.

WHAT’S THE SECRET TO MY SUCCESSFUL STUDENTS?

I can tell you that there is definitely no magic pill here.

#1 – They Work Hard

To be successful in real estate investing, you don’t need a university degree, or even a resume.

But if you’re starting out , you do need to be prepared to work really, really hard.

It can be rewarding, but it is hard work.

The fact is that many people buy real estate courses all the time and never make any money.

They never follow through …. most people don’t realize that there is hard work and so they just give up.

I do have students that appear to work very little and make tons of money … but this is only after putting in the work up front to achieve that.

#2 – They persevere through hardship

Most successful real estate investors have failed several times.

Instead of allowing failure to discourage them, they use it as a learning experience.

The knowledge they gain is valuable, and their ability to persevere through hardship allows them to continue working toward the success they eventually achieve.

#3 – They take action despite not having all the facts.

As a successful entrepreneur and real estate investor you need to be able to work within a framework of ambiguity.

Most people are paralyzed because they are looking to make sure that they have everything 100% covered (to avoid making mistakes)

This is absolutely the worst thing you can do.

You have to be diligent to make sure you do the best possible job of eliminating mistakes and making sure that you are doing things right.

But at some point you have to be willing to pull the trigger and accept that there is likely something that you missed and you’ll just have to deal with correcting it as you go along.

LET’S CHAT

Give me your thoughts or comments here below…I’d love to have a conversation about this post

(you can also check the box that will notify you the next time someone posts something here)

Note: I wrote this post without checking it for spelling errors…. so if there are any then please ignore them :-)

Comments

  1. Christ I am confused do I get the virtual training program with the wholesale blueprint system or do I have to order that separately.

  2. Hi Cris,

    Thanks for this post. The three attributes you pointed out are exceptionally important no matter what goal you’re pursuing. Also, really enjoyed the VA training session last night. Just purchased the blueprint and video course and will work through them (after I finish my taxes (gulp)–that stuff has to get to the CPA next week). Thanks for great materials.

    Much Success!

    Cindy

  3. Hello Cris, I really appreciate your great new website… Looks great. Typical for you, you give a lot of very valuable, implementable information! I read some of your articles, too. Again, great info! Like Jack Bauer, gotta go conquer..glad you’re well..Thanks !
    Recommendations to all: get Cris’s info & DO IT!

  4. LARRY WALTON says:

    Very helpful information Chris just what I needed. Thank You

  5. Thanx for your elevation.

  6. Hi Chris,

    I am very excited about your course. I do have a question however. I was under the impression that you have to provide a proof of funds letter to the seller before you can do a transaction. Is that true or not? Thanks.

    Brad

  7. Your methods are sound and 100% true. No work = no progress = no money!

  8. Heck Ya!

  9. Cris, as always you have put together an amazing package to make new students REAL investors!

  10. Hey Chris,

    I’ve only recently come across your blog and it’s great for newbies! I do have a question and that is, in your post you mention that you always recommend starting local rather than remote. I’ve heard other gurus say the same thing. My question is… WHY?

    The reason I ask is because I’m in Canada… Specifically the Toronto area and the market here is like night and day compared to what is available to investors in the U.S.

    For example, there are NO sites like RealQuest, or Zillow, or Trulia, or CyberHomes, etc etc. There are NO public records for Probates, Out of State Landlords, 30/60/90 day late, pre-foreclosure or foreclosure lists. So the ability to get a targeted list and send post cards or other mailers with a few mouse clicks isn’t here.

    Privacy laws here in Canada prevent all of these lists from being available so when it comes to marketing, you’re pretty much left with Bandit Signs, Flyers (untargeted blanketing a neighborhood), Post Cards (again untargeted) or Guirilla/Network marketing with Mortgage Brokers, Lawyers or Realtors, etc. Honestly, it’s a pain! I flipped 15 properties all across Ontario last year – NONE of which I ever visited or met with anyone face to face. So I’m not seeing a big advantage to the fact that I was local. I know 15 properties is not a huge number by any stretch, but better than zero.

    So I’ve been looking to the U.S. to build my business down there instead. The whole U.S. system just seems to make a lot more sense to me. So now I have a choice… Do I start in upstate NY in cities like Buffalo or Rochester because they are only about 1-2 hours away so I can drive there if I want to, or do I just go completely remote to someplace like Las Vegas where it is easy for me to register my LLC and less work to get setup than it is in NY.

    What in your opinion is the big advantage to starting local and how does that then help you to go remote later on after you’re established?

    I look forward to your reply!
    -Jeff

  11. Hello Chris, thanks for caring enough to explain and help us,newbies. I apprceciate the support and quick responses for my questions,thanks again. Still not clear about a few things like the “virtual assistant” hanks, GOD BLESS

  12. A Virtual Assistant is just someone else who handles specific tasks for you in your business. They can be someone from overseas, someone from in the U.S. or even someone in your town. In your business you should list out all of the tasks that need to get done and choose 1 or 2 tasks that don’t directly make you money (but are still important) and outsource those to someone else. An example would be running Online ads, putting out Bandit Signs or running mail campaigns for you on a regular basis. If you are going to outsource, you should have done the task at least a few times yourself first so that you can provide clear step-by-step instructions for carrying out the task.

  13. Raymond F Dillon says:

    Love it!

  14. thanks,Jeff. How do I get in touch w/Aaron Polling to start my “ListSource” searching ?

  15. Heya cris,

    Great webinars, loving them thus far. Regarding the realquest refferal, My contract will be up around april i believe and was wondering whats the benefit signing up through your rep? right now the single county iam in is $150 and also have the RQ listsource acct. aswell.

  16. Chris,

    Sounds good. Do you still offer your absentee owners course? Also just bought a list from usleadlist through your link. Thanks

  17. Cris,

    The VA training has been great, lots of content…
    I recently got my realtors license and now have an actual seller in the works… I’ve never done a wholesale deal before , but am very eager to learn…

    I’m just a little concerned about contracts and agreements I have to use now as realtor to do a wholesale deal out of my area… Are your contracts ones I could still use, or can you give me a little advice on this one…

    Thanks

    • steve: contact an invesotor friendly title company or attorney and see if they could tell you if using that contract is ok … if you are going to give them business they should be able to give you a quick nay or yay

  18. Leonard Hurst says:

    Hi Chris,

    Thanks for the valuable info. Looking forward to getting started. I somehow missed your online presentation/webinar. Is there a place to get your schedule for these trainings, etc. ?

  19. maria c torres says:

    hi i been trying to start a small real estate investing business i have read book s and cds also been in a community ,but iam tired of far thing i live in chicago and i have looked for hard &private money leander and the result are neg .i am a person that need hands on same one to guide me .

    maria

  20. Hey Chris, Nice blog post! The only problem is that after the blog post makes it LOOK so easy step by step, the video you sent about STL as well as the steps you took to send out your last mailing, then show there are other more difficult steps as in the lists from listsource (not getting the list but getting the info/columns into C2mail as well as the postcard info in and so on). I think it would help others to SHOW them HOW in short videos so that there are NOT so many other things that make them NOT take action. You are still covered as they would need to buy you course OR at least the blueprint for the audio wording, contracts, postcards, and so on but at least they would see that many steps are NOT as hard as they think they are. Just a suggestion as it would help others as well as cover you since you only have Alex and Miles to say how good the course is when I am sure you have more than 2 students who are doing this and making money. Thanks

    • i have quite a few students that i have to do case study calls…

      I’m going to be having more free webinars and telesminars so that people can better understand the system

  21. Chester T Ludwig says:

    The name Cris Chico is new to me.just got introduced by my wife yesterday 11 Feb. 11. However we’ve been buying other programs left and right-wish I am a fast reader (trying to keep up). After reading the testimonies from your students; I can’t wait to be part of the team. I have zero % real estate experience and 100% enthusiasm and I am not afraid to get my hands dirty (hard working). Your program is exciting enough-we bought it last night.

  22. Superb.

  23. Is the va course included with the main course?
    http://www.crischico.com/va/

  24. How much is RealQuest per month? I’m looking for a good comp source. Are they monthly or do you need to sign an annual subscription? Any other good alternatives besides MLS?

    Thanks,
    -Jeff

    • realquest per month .. depends on the county .. could be anywhere from 75 to 150 per month

      another one is sitexdata.com .. you can use them for comps but not for data source

  25. Hi Cris,
    your system works only in U.S. or I can adapt it to
    any country (I am from Israel)

  26. Is there a reason why you stopped selling the absentee owner course? Does it not work so well anymore?

    • the absentee owner course was my original course with the postcards.

      i expanded it .. it then turned into virtual wholesaling

      so I stopped selling it

      everything is in virtual wholesaling

  27. Also, does Aaron Polling still work at RealQuest? What discounts with Realquest and Listsource should I be receiving as your student Cris?

  28. Ha, thanks for the speedy response Cris! I tried calling Realquest and asked for Aaron Polling a year ago on another person’s suggestion and was stuck with this guy named Danny. Every time I call and ask for Aaron, for about a year now, I was redirected to Danny who did not acknowledge any discounts of any kind. I just called Realquest yesterday and I specifically asked if Aaron Polling was available in the office, and the receptionist (a VA?) asked for my account number and then pretended to connect me, got back on the phone with me, asked me what my concern was and for my account number again (I don’t have one) and then said “okay, I will connect you with our sales department”. I was then connected with “Chris Dan” or “Christian”‘s voice mail. Does this person know about your discounts? Also, can you tell us specifically what sort of discounts we should be anticipating with Realquest as a student of yours so we can communicate this with our assigned account manager. It seems that Realquest simply refuses to allow me to speak with Aaron Polling, never had the opportunity to speak with him ever…

    • there is a direct number for aaron

      go to http://www.crischico.com/support and request the number and my support staff will give you

      you’ll have to open another account or not give your account number

      once they have you in their system they try and get a sales rep to speak with you

      if you call aaron directly then he can help you (or email him)

      you’ll get the same pricing on realquest .. but you’ll get more sellers to download

      with listsource you’ll pay less money per record… hope that helps

      chico

      p.s. thanks for visiting the blog

  29. Oh, and also, what sort of discount can we anticipate getting on our lists from Listsource as a student of yours as well? Lists can get pretty expensive, so I’d happily take any discount on those I can get. When I spoke with Danny, 5000 records was not available with the realquest subscription, was a substantially lower number although I don’t recall the exact number…

  30. oh just saw your newest comment, will send you a support ticket then, many many thanks cris! :-)

  31. I’ve been trying to get my wholesaling business off the ground but working a full time job makes it very difficult. For that reason, I believe virtual wholesaling would make a lot of since for me. I have very limited funds available to me and would like to know what a conservative “realistic” expectation of monthly cost would be if I were to implement the virtual services you’ve suggested. I understand that once deals are closing that profit would be used to pay for these services. However, my concern is how to pay for these services for say the first month or so until I’ve closed a few deals.

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