Michael Foley is a seasoned real estate professional based in Long Island, New York. Starting his career as a solo agent nearly a decade ago, he eventually built a team and opened his own brokerage in mid-2022. Today, Michael manages brokerage operations, investing, wholesaling, flipping, and rental acquisitions.
This blog shows how Michael integrated outsourced virtual assistants (VAs) into his cold calling strategy to generate quality leads and secure a $50,000 profit on his first wholesale real estate deal. It offers practical takeaways for agents and investors looking to scale lead generation and streamline operations.
Michael entered wholesaling in a high-value, high-regulation market. With average home prices between $600,000 and $700,000, generating consistent, high-quality leads was difficult. Cold calling thousands of potential sellers required persistence, but the sheer volume made follow-up management nearly impossible for one person.
"Finding quality is the toughest part. You have to give them a trial, evaluate performance, and sometimes pay more for experienced help," Michael shared.
Unlike other states, New York real estate contracts typically require attorneys from both sides, making transactions more complex and time-consuming. Michael noted that seller-side attorneys often interfere or attempt to change previously agreed-upon terms.
In some cases, workarounds like selling the LLC were used to navigate legal pushback.
Michael also had to juggle brokerage responsibilities, flips, and distressed seller situations as divorces, property neglect, or business closures, requiring personalized attention and fast resolution.
Recognizing that lead generation was a numbers game, Michael turned to virtual assistants to handle cold calling and lead intake. This move allowed his team to scale outreach, improve efficiency, and focus on closing deals.
Watch the full interview with Michael Foley to see exactly how he built a $50K wholesale deal system using virtual assistants.
Michael occasionally pays a premium to secure higher-quality virtual assistants and gives each new VA a one to two-week trial to assess performance.
He occasionally offered premium rates to attract top talent. Each VA delivered 12 qualified leads per day. He emphasized testing each hire with a 12-week trial period.
Lists were pulled from platforms like DealMachine, then uploaded to the dialer. Once a VA identified a lead with motivation, timeline, and a price range, it was uploaded into the CRM.
This ensured the acquisitions team could track and manage the relationship through conversion.
Michael’s acquisitions team followed up with each lead. Regular follow-ups over weeks or months helped convert cold leads into warm opportunities. Once a seller showed interest and price alignment, Michael scheduled in-person appointments within a one-hour driving radius.
Michael offered flexible deal structures based on the seller's needs. If the property was distressed, he proposed a wholesale deal. If the seller wanted top dollar, he offered a listing through his brokerage.
Attorneys handled legal complexities, sometimes involving LLC transfers or creative closings to satisfy restrictive legal environments in New York.
Michael focused heavily on rapport and transparency. He explained his process openly to sellers, including how leads were generated and the costs involved in repairs and operations.
For sellers with hoarding or moving challenges, he introduced flexible programs like a "leave behind" option, where owners could leave unwanted belongings behind with no hassle.
"It's a numbers game. A lot of leads and having someone to follow up dramatically change the business," Michael emphasized.
Michael’s revamped system yielded impressive results:
By outsourcing lead generation, Michael freed up time for strategy, in-person meetings, and deal closures. His system also allowed for multichannel deal conversion. If a lead wasn't a fit for wholesaling, it was redirected to his brokerage team for a traditional listing.
Michael shared an example of a seller facing financial hardship due to a business shutdown. Although the property wasn’t heavily distressed, his team provided a quick solution that resulted in a $50K spread.
Sellers also benefited from personalized communication, quick responses, and multiple options tailored to their needs.
Hiring VAs allowed Michael to handle large call volumes without sacrificing quality. This freed him to focus on high-value activities like closing deals.
Using a CRM and a follow-up team ensured no lead went cold. Persistent follow-up turned cold contacts into closed deals.
Working with attorneys experienced in wholesale transactions helped navigate New York's unique legal hurdles. Michael emphasized the importance of wholesaler-friendly legal support.
Being able to offer either a listing or a wholesale deal based on the seller's needs increased conversion opportunities.
Deals often required multiple touchpoints over months. Michael's system ensured long-term lead nurturing.
"The hardest part is staying persistent when you're not seeing money right away. You need to treat this work as a business, not a hobby," Michael advised.
Michael’s success story illustrates how virtual assistants can help real estate professionals scale operations without burning out. By delegating repetitive tasks, maintaining a strong CRM system, and offering flexible deal structures, Michael transformed a complex, high-value market into a space for consistent wins.
Professionals looking to boost their own real estate businesses can learn from Michael’s approach: combine smart delegation, systemization, and relationship-building to generate reliable income.
Q1: What does a virtual assistant do in real estate wholesaling?
A virtual assistant handles tasks like cold calling, lead follow-up, data entry, and CRM management, helping investors scale lead generation without burning out.
Q2: How do I find a reliable virtual assistant for real estate?
You can find VAs through platforms like Upwork, OnlineJobs.ph, or real estate-specific VA companies. Look for experience in cold calling and familiarity with real estate CRMs.
Q3: Is wholesaling legal in New York?
Yes, wholesaling is legal in New York, but it comes with strict legal requirements. You often need attorneys on both sides and must structure deals carefully to remain compliant.
Q4: How many calls do I need to make to get a wholesale deal?
Results vary, but like Michael's case, VAs made 6,000-7,000 calls monthly, generating 12 qualified leads per day. It’s a numbers game that requires consistent effort.
Q5: Can virtual assistants help with more than just cold calling?
Absolutely. VAs can also help with social media marketing, lead nurturing, document prep, and appointment settingfreeing up time for high-level strategy and closings.