Virtual Assistant for Real Estate Investors- feedback please

General Real Estate Investing
1

Please provide your insight. What types of services that a virtual assistant could provide would benefit real estate investors?

I understand the lengthy process of doing due diligence, exploring property management companies and working with lenders and brokers. I have been investing in real estate for eight years and have owned 20 properties (small apartment complexes-Commercial; SFD and MFD locally, out of state and in Canada).

I am interested in pursuing Virtual Assistance for Real Estate Investors as an additional business. :biggrin I believe there is a need but would love to hear your opinions!

(A Virtual Assistant is an independent entrepreneur providing administrative, creative and/or technical services utilizing advanced technological modes of communication and data delivery works from their own home office on a contractual basis).

2

Nice concept but I am not certain the newer investor knows what they need or dont need and the simple fact is that they cant afford much…

The seasoned investor typically already has their front line of support in place. The areas that I think most investors would love to have help on are Short Sale negotiation and seller presentations but not certain if you have that experience… If so that would be the shingle I would hang…

Good Luck

Michael Quarles

3

I think thats a great idea. Virtual assistants are the “hot” thing right now. I would imagine each investor is going to have his/her own set of needs though. Just out of curiosity, why limit yourself to just investors? There’s other groups out there with as much or more of a need for virtual assistants, plus they have the funds to pay the assistant.

Best of luck!!

4

I agree Virtual Assistants are very popular right now. I thought that by establishing a niche, such as a Real Estate Investor VA, I could narrow my target market. Thank you for your response. All feedback is greatly appreciated! :biggrin

5

If you would like to see the virtual assistant I use go to www.myrealtydata.com login “free” password “expired” today only…

6

Most of the RE investors I know don’t have enough everyday activities to need a regular VA

real estate agents are another story - their are a ton of activities you can perform and with 1.5million realtors they niche is fairly large.

I think its a great idea - I looked at starting a VA company one time where I would charge for VA services that I would sub out to others.

It was a decent idea except my time is so limited as far as starting something new, maybe next year

7

I am glad you have a resource such as www.realtydata.com An investor needs a good spreadsheet analysis tool for formulas. Yes but how do you manage qualitative data such as assessing demographics, assessing past and current market trends, occupancy rates, vacancy rates, which property management team to use, which lender to use? Just a few thoughts…

8

You didnt see the crystal ball icon right next to the money tree icon… Oh my God those are great tools…

9

I’m tempted to get a VA to take calls for me.

I used to use a live operator company but I hate the fact I can’t train them myself to answer the way I want them to answer and the fact that sometimes they made my callers wait 1-5 minutes to log in.

10

I use a service and they ask “My” questions www.myrealtydata.com/form

I used to use Pat Live but i think they changed their name to “We never answer the phone” Now I use a local service.

Cost is 125 mo plus 2.00 a call

11

Michael, is that $2 per call - or $2 per minute?

12

Per call… which I think is a great way to structure costs… Some of these operators can talk and talk and talk and so can sellers…

13

I agree, that is what has scared me about Patlive. So you say that is a local service or will they take business nationwide?

14

yep they answer the phone nationwide…

Not certain if I can give your their contact info online but call or email and I will…

15

cool, just sent you a message.

16

I just wanted to add that if you are interested in a good book and realizing what a virtual assistant can do, check out “4 hour work week” by Tim Farris.

I have been using a VA for about 5 months and it works really nicely because I can give him task to do while I am asleep, so my work is getting done around the clock. I actually dont use him for my real estate business, I have had him research certain parts of businesses we looked at purchasing, writing articles for a website, submitting articles, craigslist posting, site work, ebay listings, honestly sometimes I just find things for him to research or do because its so cheap and he does such a good job. He doesnt actually “make” me money but he lessons the presure on getting some things done.

Where else can you find a college graduate working for $6 hr…starbucks :biggrin