There is no "No Money Down"

There is no "No Money Down"

Developer · Fayetteville · Member since 2016 · 91 posts · 57 votes

Okay so I am just gonna say it. Whatever you heard about "You don't need money to wholesale" is full of ****. Yes there are ways that you can wholesale with MINIMAL funds, but you will still need money regardless. I don't care if you are just walking around town looking for run down houses, the fact of the matter is is that when you send out a letter you will need money for stamps and the other materials. Now if you have someone do that stuff for you for free that is great and keep milking that resource, but they will probably want something in return which would be part of your profit so therefore you just spent money. Believe me I thought the no money down part was true until I actually started. I am warning you on what to expect. If you have $0 then sell some stuff you don't need or work part time to afford the marketing materials you need. The profits you make on your deals will be 99% of the time 3x bigger than what you actually spent. 

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  • Real Estate Consultant · Wilmington, NC · Member since 2016 · 41 posts · 6 votes
    10y

    Hi there, when people say no money down they mean little money. I'm in the same boat as you are yet I pay for my letters that I send out every month. I'm paying for leads and Web hosting yet when I do a transaction it's more than 2k so it works. My thing is doing deals consistently.  Lol! The bottom line is this is a numbers game even if you don't pay for the property the lawyer still gets his money.

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