The BiggerPockets forum often asks the question "What can a virtual assistant do?".
Virtual assistants can do whatever the investor does.
In recent years, a layer of virtual investors was growing right before your eyes. They invest in investor-friendly states while remaining in their state.
A funny fact. COVID-2019 quarantine made all RE investors virtual. Most of the investors did not like it. After the quarantine, they went back to their usual style of work. But some investors took the new experience positively and now work virtually with other investor-friendly states:
Photo by the article "Which States are the Most Renter, or Landlord, Friendly?".
The existence of American RE virtual investors proves that a virtual assistant can theoretically perform 100% of RE investor's tasks.
In practice, virtual assistants are understood as Asian VAs with the state English language - primarily Philippines.
I must say at once that Filipinos are great and executive assistants. They're very positive. Filipinos are worth every penny of their money.
But the practical answer to the question "What can a virtual assistant do?" is: "A Philippine virtual assistant can only do simple office tasks.
Difficulties of investing in real estate
Investing in real estate is difficult. I came across this when I was recruiting for our American REI department. Our company is based in Moscow, Russia. We are virtual investors in US real estate. Our geographic location gives rise to many difficulties:
- Investing in real estate is difficult in itself. Read Jonathan Greene's article "All the Reasons Not to Invest in Real Estate"
- A virtual investment in another state is twice as difficult ("Really f*cking hard" © Jonathan Greene).
- A virtual investment across the ocean is difficult three times.
The requirements for our REI department staff are high. Our REI virtual employees receive $5-10 per hour. They have to:
- Have the obsession with American real estate investment
- Providing telephone support to Americans
- Learns virtual REI investment
- Hold webinars for RE investors
- Do REI video marketing
- Read lectures at BiggerPockets conferences
- Go to the USA for an REI internship for several months every year.
Unfortunately, the Philippine virtual assistants are not able to perform any of these items.
European virtual employees
We've decided for now to abandon the Philippine VAs in favor of the European VAs. Half of Europe speaks English. There are countries where salaries are 2-4 times lower than in the Philippines, and higher education is the norm.
We recruit virtual REI staff in Europe and we pay them 5-10$ per hour. Our European staff can do all the work of Filipino virtual assistants and all the work of a virtual investor.
Call to Action
1. Get to know the video profiles of our European virtual employees in the article "Looking for an REI virtual internship". You will understand why we prefer to work with European employees.
2. If you have any questions, ask them through the contact form or my BiggerPockets profile.
3. Do you want to receive articles about virtual REI assistants?
Subscribe to the "REI VAs" mailing list right now.