How does wholesaling really works?

[Donald Taite]

I see a property that I would like to wholesale to an investor..but here is the catch..I have no funds to buy the property. I have heard all the stories about how you can buy properties with no money or no credit.Well..if that's true..what do you have to do? Based on all the info I have gathered this property would be a good deal. People always say get the house under contract but I feel real stupid trying to put a house under contract when I don't even have the money to buy it,which I'm sure they are going to want.I guess im getting a little frustrated because this property is a foreclosure for $175,000 and the comps are selling around $300,000..and thee county has the property assessed at & $270,000. The home does mold remediation and new hardwood flooring and new carpet..the kitchen def needs updating. But if you are trying to wholesale thee property why would you be worried about rehab cost and ARV? Please someone give me some guidance.