In a vast, saturated market like real estate, it’s hard to find high-quality leads, especially when we’re investing in our backyard. But what we often do not know is that we can go above and beyond that.
With virtual wholesaling, you can buy and sell properties right off the bat without visiting them! Take full-time journalist and part-time investor Taylor Bisacky as an example. Taylor started venturing virtually and looking at real estate from a different angle. Today’s episode unveils how this newbie investor built momentum and dabbled her way using this unique strategy.
How A Frustrated Journalist Ventured Outside Her State To Start Doing More Wholesaling Deals With Taylor Bisacky
I see it all the time. You want to build wealth by real estate investing but the problem is what you want to do might not match where you live or your lifestyle. Not all real estate investing strategies work in every market. It’s natural to think that you have to invest in your backyard because real estate is such a tangible object.
You think you have to be able to touch it. For that reason, most real estate investors just settle for the problems and limitations that their market brings because they think that is their only option. It doesn’t have to be that way. I am here to show you that you don’t need to live where you invest, and you can have location and time freedom.
My goal is to dispel any myths and inspire you to think differently about how you invest in real estate by taking a virtual perspective. I always say, “Live anywhere. Invest where you want.” In this episode, I’m going to be speaking with one of my VIM students Taylor Bisacky. She is incredible. In a very short amount of time, she’s already closed her first couple of deals and got a few deals in the pipeline as well.
She started with me in my Virtual Investing Mastery program with no experience at all. She decided to get mentorship because she wanted to cut the learning curve in virtual wholesaling. She lived in Northern California in the Bay Area, so wholesaling is pretty competitive or near impossible where she lives. She knew immediately that a virtual model was much more conducive to what she was looking for in her real estate investing career. This is an awesome episode with a lot of great tips. Make sure you read it all the way. If you think that anyone you know might benefit from this episode, make sure you share it with a friend. Don’t forget to rate us wherever you read this episode. Let’s get into it.
Taylor, what’s up? Welcome to the show.
Lauren, how’s it going? Thanks for having me here. I’m so excited.
I’m excited to have you. Don’t you have a broadcasting background?
I do. I am a journalist now. I live in San Francisco, hence why I definitely vibe with you as a coach for virtual.
I’m South of you in Orange County but it still has a similar real estate environment where our hometown doesn’t work as a wholesaler. It’s very competitive. If you are a flipper or a developer, rentals don’t make any sense at all. You will be negative cashflow if you have a loan on your property. We live in a frustrating area. How did you learn about wholesaling, given that you lived in an area where probably not a lot of people around you were doing it?
A lot of us during the pandemic have all this extra free time like, “What am I going to do with it?” I have always had an entrepreneurial spirit and always like, “What can I do as a side hustle?” I started looking into things. I went down the Amazon FBA rabbit hole but something I have always been interested in was real estate. My family has a background in it.
You don’t need to live where you invest. You can have location and time freedom.
It’s something that always piqued my interest like, “What if I did something in real estate?” I went to some of those free seminars and started learning more about wholesaling. I then found Wholesaling Inc. I started diving into the show as a lot of us and how a lot of us find all of you coaches. I dove into the show, started learning from you and Brent, and connected with you being in a market where maybe it doesn’t make sense to do it in your backyard. I took the leap of faith and jumped right in.
You are super smart that you didn’t even try to do it alone. You went straight for getting coaching. I can’t tell you how many times I hear from people that they have tried using YouTube University. They try to figure it out using online resources and waste a year and a half of their lives and $10,000 in marketing, and then they come to me.
I have that problem too. I normally fall into analysis paralysis. I will spend hours and hours listening and reading but it’s one of those things where I knew I needed to get connected with someone who knew what they were doing to fast track and be able to not also get myself in trouble and do things the wrong way.
That’s for sure because there are a lot of things you could do with wholesaling where you do it the wrong way and could get yourself in trouble. It’s super smart. You, right out of the gate, joined my program. I remember you were living in SoCal. Did you already have a market in mind before you came to me? How did you pick a market?
Not at all. I went through your program and did the modules. I narrowed it down, and that’s where I fell into analysis paralysis. I ended up choosing Knoxville, Tennessee, and some of the smaller ones too. I have also been doing some deals in Chattanooga.
When you were deciding on all your markets, how did you decide on the Knoxville and Chattanooga area?
I was looking at a lot of the criteria where there are good rentals. I am looking at the ARV, buyer activity and seeing where it would make sense. It’s going back to the courts and seeing what checks off in that criteria. I’ve got stuck on a few and started stalking the Facebook groups and seeing how much activity was in them. I thought that these markets would be a good opportunity to get started. It was one of those things where it’s like, “If I continue to dwell on which one to go in, I’m never going to take the action. Let’s jump in and try it.”
A lot of people get stuck on, “How do you pick a market?” There are almost 400 Metros in the United States. You’ve got a huge area to cover. There are 385 Metros or something like that in the US but everybody seems to pick the same fifteen markets in my experience, which is funny. I remember talking to you on your welcome call. I was like, “Stay out of where everybody goes because those are so saturated.” All those people are now coming to me saying they want to go virtual.
I remember I had a lot of them on my list as well. Even doing a quick Google search of like, “Best markets to wholesale in,” the same ten pop up. I’m thinking, “These people are probably doing the same thing that I’m doing, so let’s try to look at it from a different angle.”
Take it from a creative eye and go, “There are 385 Metros. Let’s get a list of the metros in the US.” What areas do you have any connection to? Did you go to college there? Do you have an aunt who lives there, anywhere that you feel you are called to for some reason? Are you like the weather and think like, “That would be a cool place to maybe visit.” Everyone wants this formula like, “Is there a statistical data that I can pull now that will tell me that this is the best market to wholesale?” I was like, “If there were, everyone would be in that market, and then it wouldn’t be the best market to wholesale.”
I have connections to Florida too, so I was thinking about Florida. At least while I’m living out here, Florida is exploded. It had been pretty crazy this last couple of years of the pandemic.
It’s almost like going to another California. That’s what I have heard from people that are there. They are easier places to do this business virtually. If you can work in your backyard, that’s great. That’s always the easiest way to go. There are some hoops you have to jump through with being virtual. When in doubt, work your backyard. If you don’t have to work in your backyard, try to find an easier market that’s not just another version of your backyard.
All the grind is worth it. The grind will get you there.
It’s a little interesting because, normally, people might start in their backyard and then go virtual. Part of me feels like going virtual and maybe moving or going somewhere else, then trying in your backyard. It’s so much harder to close over the phone and do these things all over the phone when somebody has never met you face to face. Once you learn the skills of how to talk with people and build that rapport, then if I moved out of San Francisco, I feel like doing it in my backyard might be easier now than doing it virtual first.
There is this competitive advantage that you’ve got started right out of the gate with the virtual skill. In general, it’s being more efficient with your time. If you don’t have to go to a seller meeting and can still get stuff under contract, even if you are in your backyard, why? Who wants to get in the car and waste a whole day on a seller meeting when you can have a good script and do it over the phone? That’s awesome. You’ve got started, and as far as talking to you now, you have closed a couple of deals. You’ve got some deals in the pipeline, so you’ve got some momentum. How did you get from like, “I picked a market, now what?” Tell us about that in-between.
It was a rollercoaster. Starting out is getting over anxiety, fears, “What they are going to say, what’s going to happen,” and going for it. At the end of the day, you are going to learn from each call that you have with somebody. You are going to learn from each misstep that you make. I started right around the holiday time.
It was a little difficult because I felt like, “Why is anybody seem like they want to sell but I’m not going to make contracts? What’s going on here?” I’m starting around a rough time. What ended up snowballing and leading to the deals is I would continue to follow up with these people. As a journalist, I am not afraid to bug you, continue to call you, and have those conversations. That’s helped out with this skillset when it comes to getting things under contract because I’m used to following up and bugging people sometimes.
You are used to uncomfortable conversations.
I cold call every day for my job. Essentially, this helps me have these random, out-of-the-blue conversations with people. That’s probably a part where a lot of people get stuck or feel frozen and don’t want to keep making the calls because conversations aren’t going the way they expected. I will tell you. I had a lot of those.
For 2 to 3 months, I was having those same conversations. They weren’t necessarily leading somewhere. I thought I had someone on the hook, and then maybe I’ve got it under contract. I was learning my market. I had the prices wrong. Fast-forward to four months, and these are people that I continued to have conversations with and build rapport with. Finally, those started turning into contracts and deals. Some of them are still like, “I’m not quite ready but you are the first person I’m going to sell to.” I have learned that consistency and persistence have been my best friend in this.
Do you have a full-time job now?
Yeah. I work full-time in TV news. My schedule is on Pacific Time, which I am lucky, unlike some people. I work from 3:00 PM to 11:00 PM. In the mornings, when we have our calls and doing this, I have all this time to make calls and texts. I wake up pretty early, do five hours of calling and texting, and then go and get ready for work and do it all over again.
A lot of people can’t conceptualize like, “How am I going to start a side business when I already am working?” What does that look like in your day? For you, you are lucky that your day starts a little bit later but then you have to stay up late. That’s hard and tough. Are that five days a week?
That’s five days a week. I have been doing it for a couple of months now. It does tire you out, and it comes to the sacrifice. It’s all depending on what your end goal is and the journey and working towards what you want to happen and make happen. I have the goals in the future to do flips and hold rentals. This is something that I really want for myself. The grind is worth it. The grind will get you there.
I remember I did it for a year. I did that when I had a corporate job. It was when my daughter was one year old and was pregnant with Presley. I had a full year where I was working 8:00 to 5:00. I would break up my day. It was not as consecutive. I would get up in the morning and get to work. I would listen to educational stuff on my way to work. It was in my brain. I was lucky that my job was mellow. If I’ve got my work done, I could comp the properties out at work. I always made sure I did my job. At my lunch break is when I would call the sellers, make the offers and follow up.
We all have 168 hours a week. It’s where you decide to put them and what you choose to do with them.
On my way home, I would call the sellers on the phone as I was driving home in traffic. I would do a lot on the weekends. I would get my husband at the time to watch our daughter, and I would go to Starbucks or something to get caught up. That was how I did it with the 8:00 to 5:00, and I had a kid on top of it. It was a grind for a year but it was just a year. I kept myself motivated by constantly thinking about that moment when I picked up the phone and quit my full-time job.
That helps us all get through it. You are also a living testament that, whether you think that you don’t have any time, you have however many hours a week. It’s where you decide to put them and what you decide to do with them.
I always do this calculation whenever I get like, “I don’t have enough time.” I go, “There are 24 hours in a day and 7 days in a week. That’s 168 hours in a week. You work 40 hours a week. 168 minus 40 is 128 remaining hours.” I get it if you have a weird schedule where you can’t work on Mondays, Wednesdays, and Fridays. You have fourteen-hour shifts. It’s never going to happen but what about the weekends? You don’t have to do this every single day.
I take Saturdays off.
If you put your mind to it, you will make this work. You can fit it into your schedule. It’s amazing what we can do when we have to. That’s exciting. Is there any advice to anyone who is starting out in a virtual territory where they don’t know anyone to get started wholesaling or close their first deals? What is the best advice that you would give?
This also goes back to what we learned in your course. Get connected with people that are already doing deals in the market. Get connected with somebody you want to make sure they are legitimately doing several deals a month. You know that they know the territory. We would call them JV partners, Joint Venture partners. If you find a good one, you can’t rely on them too heavily for a long time. For a little bit, they will be able to teach you some of the things that you wouldn’t know.
These are people that live in the market. They know the hit or miss streets and the war zone areas. They will be able to help you and get more knowledge about the area. You can also look at the flow of what’s going on in the Facebook groups to see, “Is there a lot of activity? Is there a lot going on here?” I was very lucky. At first, I had a JV partner who was also part of my problem starting. That was a speed bump in some of the first couple of contracts I’ve got that I had to cut loose.
I don’t think they were working it the way they said they were. I ended up getting another JV partner who is absolutely fantastic. They know the area very well. They will go down and meet the sellers and bring their buyers through. They helped me learn about the market and what people are specifically looking for. A lot of kudos to him. Shout out to Logan. He has been great.
A lot of people ask, and they get so scared about working with a JV partner. They are like, “What if he’s shady?” I’m like, “What is he going to do? Realistically, what is the worst that can happen? You own the contract. You have the property under the contract. It’s as long as you don’t sign some sort of agreement with him.” That’s why everybody goes, “Do you have a JV agreement?” I’m like, “No, because I want to not have any contractual agreement with this person if it’s not working out.”
We work on a deal-by-deal basis with your JV partners. If it’s not working out, you cut them loose. That’s the worst that could happen. The best case is that they move the deal. You cut your learning curve tenfold rather than trying to do it yourself. Could you imagine trying to do it yourself during your first few deals?
Absolutely not. I will tell you too because I have had some other wholesalers get involved with leads that I was working on for a while. This is probably something that I would have done if I didn’t know but these wholesalers are offering them above market value and over-promising them. That’s how I’ve got some of my deals messed up.
That’s why I lost them because they had other wholesalers coming in who over-promise them and didn’t know the true market. I don’t know if they knew what they were doing but it threw it off. I would get a call from the seller a couple of months later like, “Are you still interested?” It didn’t work out, so I recommend finding a JV partner and hit the ground running.
You can’t expect results immediately, but just keep going.
I love it. I’m so proud of you. You close two deals and have a couple of deals in the pipeline. You’ve done well for the amount of time you have been doing this and that you have a full-time job. That’s amazing.
Thanks, Lauren. I owe a lot of credit to you for being an awesome coach. There’s another thing I want to add for people. A lot of people come into this thinking that they are going to get a deal right away. You have no pipeline. You have nothing. Sometimes people get lucky. I have seen a lot of my friends get lucky and do that. That’s amazing for you. You’ve got to keep going. That’s the biggest thing I have learned. We can’t expect results immediately.
You have to be patient. For me, it took four months to get my first property under contract. I was working every single day, and it still took me four months to get the thing under contract. It took eight months total before I made my first paycheck because we flipped that house. It was a long time to go without making any money and having this hope and vision and going for that hope and vision like, “I know there’s money. There’s money in this. I’m going to be able to quit my full-time job.” It’s knowing in my heart that I could do it.
If you stay patient, you can get there. If you are the type of person who has a hard time staying patient and you want results now, you want what you want and want it now, and you don’t want to work for it, you are not going to do very well in any business. I was telling my daughter this story. It made me think of what I was telling my daughter. We were riding bikes to our other daughter’s beach volleyball practice to pick her up. She’s like, “Why can’t I just get a cell phone? You are so strict. I don’t understand why I can’t get a cell phone.”
I go, “It’s not that I’m strict. There’s a reason I’m doing this. It’s because I want to teach you how to delay gratification.” She’s like, “What does that even mean?” I’m not the best at explaining. I was trying to explain it to a kid. I was like, “If I gave you what you wanted when you wanted it, and you never had a wait and think about something every single day for a year, you would be naturally inclined to always expect to get your result immediately as an adult.” I was like, “I want you to be the type of adult that can work at something for years and years, not getting rewarded, and then after ten years, you’ve finally got rewarded.” I’m trying to teach her delayed gratification.
You are training a little hustler.
I’m training her. She was not getting a cell phone until she was eighteen. Taylor, thank you so much for coming to the show. If anybody is in your area who wants to do deals with you, how can somebody reach you in Chattanooga? She’s in Chattanooga. That’s her market. Bring her some contracts.
It’s Chattanooga and Knoxville. If anyone is interested, you can reach me either by email or social media. My email is TBisacky41@Gmail.com or you can also reach me on Instagram, which is the handle @Taylor_BisackyTV.
It was awesome having you. Thank you so much for inspiring others with your story, Taylor.
Thank you so much, Lauren. It’s awesome. Thanks for coming full circle that I’ve got involved. It’s awesome to be on the show. Thank you.
Remember, if you want to learn more about virtual wholesaling, make sure you check out www.VirtualInvestingMastery.com. If you found this show helpful, make sure you spread the word and share this episode with a friend who may benefit. Thanks for reading. I will see you next time.
- Taylor Bisacky – Instagram
- Virtual Investing Mastery
- Be sure to join the Wholesaling Inc Facebook group
About Lauren Hardy
Lauren Hardy is a Virtual Investing expert and Real Estate influencer who owns multiple companies in the real estate industry including real estate investment, coaching, and software companies. She is also a Wholesaling Inc coach and co-host of the Wholesaling Inc Podcast.
Her experience in the last decade has been focused on real estate investing and creating products and services to serve the real estate investing community. If you are interested in investing in real estate virtually, house flipping, or virtual landlording, Lauren’s your girl.