Wholesaling with very little money???

[Matthew Santillanes]

Hi,

I've been looking into wholesaling because from what I have learned so far it doesn't require credit or money upfront (both of which I currently lag on).  I'm a real estate enthusiast, in the process of getting my real estate license, and am making real estate a lifelong learning process. 

Does anyone here do wholesaling?  and if so what have you experienced as far as what's required from you to wholesale a deal?

Thank you for your time,

Matt

[Jim Viens]

I'm just getting started myself but I can tell you...if you don't have ANY money to put into it then plan on spending a TON of time. Marketing is the biggest key to successful wholesaling. I'm in the middle of a $5000 direct-mail marketing campaign to find sellers and a friend/associate of mine spent about $150 on bandit signs (which are working very well for him, by the way). We've both spent money having business cards printed (an absolute MUST. You can get 500 of them at Vistaprint for about $50). If you've got no other money you can make your own bandit signs with a super-fat black marker and pieces of cardboard. I've even heard of guys using pizza boxes! If you're the adventurous type you can go to a prospective neighborhood and knock on doors (take your cards with you!) You can also go to a REIA meeting in your area and see if you can partner up with an established investor as an intern in a mentoring type of relationship. See what kinds of work you can do for them while they teach you the business and maybe partner with you on your first couple of deals. So, yeah...wholesaling is the least-expensive point of entry into the business but what you don't spend in money you spend in time...marketing, networking and negotiating deals. Hope that helps! And good luck!