Wholesaling real estate can be tough enough in your own backyard. So the idea of doing it nationwide? Let's just say it doesn't exactly sound like a day at the spa.

Yet some intrepid entrepreneurs out there are crushing it with national virtual wholesaling models. How do they make it work? Let's break down the perils and payoffs.

First, the Perils:

• You gotta become a Jedi Master at exit strategies. What flies in NYC might flop in Peoria. You need to get really good at crafting the right offers based on the retail demand in each market. No easy task from a laptop in Philly for a house in Albuquerque.
• Acquisitions analysis gets tricky from afar. It's hard enough to accurately comp deals in your own town. Now try doing it in towns you've never stepped foot in, compiled by team members who may not have the keenest eye. A recipe for thin spreads and contract fallout.
• With nationwide lead gen, costs can get ultra low but contract fallout can be sky high. Casting a wide net lets you drive lead costs down, down, down. But without rock solid underwriting, your contracts crumble like a week-old muffin.

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Of course, the Payoffs can be compelling if you nail the execution:

• Economies of scale FTW. Lower lead costs mean higher ROI. Cast a national net and fine-tune targeting to keep those lead costs oh-so-sweet.
• Become king of overlooked markets. While local Cash Kings duke it out in major metros, you can swoop in and snag deals in sleepy towns they ignore. Less competition equals fatter spreads.
• Geographic diversification = lower risk. One market tanks? No problemo, you've got inventory everywhere. That nationwide coverage insulates you from the ups and downs of any given area.

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So how do you enjoy those Payoffs and avoid the Perils? A few key tips:

• Hire specialists for remote market analysis. Don't rely on your standard acquisitions folks. Bring in team members specifically skilled at comping and underwriting from afar.
• Stick to markets with solid retail demand. Wholesale won't thrive, but you'll find hungry homebuyers from coast to coast if you target the right zip codes.
• Use price anchoring with cash offers to maximize spreads. Even if you're pursuing a lease option, secure a lowball cash price first to anchor the seller. Your spreads with thank you.

Nationwide wholesaling isn't for the faint of heart. But with the right team, systems and strategies, the payoffs can far outweigh the perils. Time to cast a wider net?

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