Starting with wholesaling is a good approach. You need to find buyers before you look for sellers. Check out you local real estate investing group. Also, this site has flippers on it that may be interested if you find the right property. But it's a numbers game.
You should also look at sound some lease options. Still looking for motivated sellers but the exit strategy can be an assignment or hold for the Lease Option period.
I have done over 100 deals without any of my own money and credit so you dont need funds to start.
The other thing you can start doing is start looking for money partners to joint venture with.
So here are the options for low cash investors (just a few)
Wholesaling off the MLS: need to double close more than likely
Wholesaling: find your own deals via marketing
Bird dogging: Might get money for any lead you find with your own marketing and turning it over to someone thats more experienced.
Lease Options (alot of stuff here but lets simplify it: you become a middle men for hooking up a landlord and tenant)
Flipping houses: if you have PML and HML who are willing to pay for everything but for a newbie will be extremely expensive on your end profit (plus if you need to pay points for the loan)
yeah many agents are investor friendly meaning that they will go with you and see houses write up offers etc but when it comes to wholesaling off the MLS what you need to do is the double close. In most states the agents in their contracts won't have an area for you to assign the contract and furthermore it tells the agent "Remember how hard we worked to get a house to a price that works well now we have to go and find someone who is willing to pay more than we were for it." It throws another hurdle where an agent wishes to just be done with the deal. In all honesty I don't blame them.
When you say you have limited funds .. how limited $$
I think what is missing from your model is anything resembling a plan. There is something about the real estate investing industry that lends itself to the mistaken assumption that investing is something other than a real business. You have to have an objective, formulate a plan, then execute. All of the various models (and more than are mentioned above) are potentially lucrative. The fact that you are not very liquid is not at all an impediment. The reality is that without clarity and a plan, you are just bumping around in the dark which may explain your frustration. As an aside, and I'll admit I am not a fan of wholesaling for a variety of reasons, if you are going to get into wholesaling you better really understand what is happening in your market. From a macro standpoint RE is changing rapidly and indicators point toward a higher probability of declining growth. Good luck....
Money is the key to success in my opinion. The time and effort, road blocks and struggles associated with starting with nothing are seldom worth your efforts. 95% of those starting out will fail. Those of us that have been successful often try to be incouraging and supportive without considering we may be imparting false hope.
Take the time you would put into growing from nothing and concentrate working 2-3 jobs saving every penny by living a frugal life style. Saving cash is far easer than trying to create something significant from nothing.
Work at saving money rather than spinning your wheels trying to do th enearly imposible.
Thank you all for your response, encouraging words and strategies. I will reevaluate and come up with a better plan while saving more and looking into other options while having limited funds.
More responses/advice are encouraged for those that post after my response.
I have a secret for you- it IS easy. The real problem is that it takes patience and sacrifice and those are things most people just do not have. I have plenty of friends with much nicer cars than I have, nicer clothes, better toys, but my sacrificing those things gave me something that they don't have; freedom. Don't let the posts on these boards fool you- most of the people hanging out here are just learning about RE too- there is one expert for every 50 newbies. Buy house that you can rent for more than the mortgage, do a halfway decent job of managing it and WAIT. That's it. Anyone can do the first two steps, but the waiting, well, that's the hardest part.