I have found that numerous people are getting the impression that you don't need any money to get into real estate investing. This is totally false. At the minimum in order to purchase real estate for a flip. You will be required to put down 10% of the loan amount. Along with another $8,000 - $10,000 in fee's. Not to mention the additional $5,000 to $8,000 the lender requires you to have in reserves. So basically at the minimum you will need $25,000 to get into flipping houses. Also most lenders have a minimum loan amount from $65,000 to $100,000.
Not if they start off wholesaling. I literally started with free ads on Craigslist. Got my first deal which was 3 properties from one seller. I sold 2 of them using owner financing to another investor and made $6k. Then from that same Craigslist post I was able to get my first buy and hold thru owner financing. So really anything is possible thoughts become things.