COVID-19 and the Impact on Virtual Real Estate Investing

Mar 26, 2020

COVID-19 pandemic is impacting the Virtual Real Estate Investment Industry. That’s a fact. In this episode, you will learn the best way to price a home for a remote deal where the comps are all over the place and how to use “junk” as a means for negotiating.  Also, they go over best practices for when there is conflicting information regarding a property’s address.

Mentioned Resources:

• PropStream
• Carrot

In this episode we covered:

• 00:00 – Start-up and welcome to the call
• 02:00 – COVID-19 & Virtual REI
• 06:24 – Website for property listing
• 07:50 – Cash offers, when volume goes up, ability to close may go down
• 09:20 – Should you try to negotiate a better offer in this market?
• 15:30 – Getting ghosted by leads due to outside influences
• 29:00 – Caller provides update on his first Facebook lead
• 34:25 – When comps for remote deals are all over the place, what should you do?
• 37:50 – Get all details about the property and change price if necessary based on information received
• 41:45 – How to use “junk” as a means to negotiate with a seller
• 48:38 – What to do when there is conflicting address information while filling out the contract.
• 50:00 – List of Attorneys in different states (posted in both Facebook groups) for closing or title companies for each state.

About Blair:

Blair is the founder and creator of Dealbot, a motivated seller lead generation company. He has managed nearly $2mm in marketing spend and generated over 100,000 motivated seller leads. He also buys and sells houses himself in the Winston-Salem and Charlotte, NC markets. In the past year, he has acquired nearly $3mm in cash flowing rental properties with zero money out of his pocket.

Multimedia:

• Youtube
• Apple Podcasts
• Google Play
• Facebook

Thank you for listening!