Investor · Santa Barbara · Member since 2022 · 28 posts · 12 votes
Hey BP community!
Hope everyone's doing well. I'm exploring real estate wholesaling and would love to connect with those who've automated their businesses on a budget.
Curious about:
1. Budget-Friendly Tools: Any recommendations for low-cost software or tools to automate aspects like lead gen and deal analysis?
2. Scaling on a Budget: Tips for scaling on a tight budget while keeping things efficient and reliable?
3. Networking on a Shoestring: How can someone effectively network online and offline in the real estate and wholesaling community?
4. Overcoming Low-Capital Challenges: If you started with minimal funds, how did you tackle challenges when moving towards automation? Any practical tips for someone in a similar situation?
I believe in learning from others, and any advice or shared experiences would be hugely appreciated. Drop a comment or connect directly—I'm eager to hear your thoughts!
Generally speaking you're either going to spend time, money or both to accomplish anything in business, especially scaling. When managed well, it just becomes other peoples time as you grow and get a team together.
If you're running lean out of the gate, you'll be balancing the lack of funds with time. Using software like Propstream (or any of the alternatives) to help generate lists and then hit the phones is going to be your best bang for buck lead gen.
In terms of networking, just jump into the forums and social media groups and talk to people. Hit your local REIA meetings for in person stuff as well.
Lastly, the low capital issue...you really only have two options; do the grind work until you start to develop capital to deploy and reinvest, OR find partners to work with where you're providing the time/effort and they're providing the funds.
Hope this was helpful...feel free to hit me up directly if you wanna dig deeper on anything. Good luck out there!
Realtor · Houston, TX · Member since 2019 · 351 posts · 174 votes
2y
Hey Carlos,
As Josh said, you need to put either money or time in it to make it work. If you want to be close to 0$ invested you can go for door knocking pre-foreclousures (only a 20$ a month foreclosure.com subscription). If you feel like that's not for you you can use an website like connected investors which will be about 150$, pull a list, skip trace it and start making calls or text.
For the low capital issue you can use a Gator Lender for your earnest money deposit.
I hope it helps. Good luck and add me on your buyer's list. ;)
Flipper/Rehabber · Houston, TX · Member since 2012 · 176 posts · 75 votes
2y
There is no way to fully automated the system on a BUDGET, you need money to do so.
Yes, you can close deals by virtually wholesaling, but to do so, you need someone there that is actively doing things in person. Same if you are wholesaling locally
Here are my answers to your questions
1) For Budget-friendly tools . Excel was my first CRM, but Podio will let you have I think 500 leads for free to get started. For low-cost lead gen - driving for dollars. For low-cost marketing - use your own printer or Click2Mail. For low-cost phone system - Google Voice. For low-cost deal analysis - use excel, I still use it to analyze all my deals, but I customize my own spreadsheet
2. Scaling on a Budget: talk to 35 sellers a week directly; pick the right marketing strategy based on your budget. Paid for leads or go to the county records and download the information yourself, there is no other option
3. Networking on a Shoestring: I am old school, and most cash buyers are old school too. I have never met a cash buyer in their early 20s or younger. So attend all real estate events in your local market and network face-to-face
4. Overcoming Low-Capital Challenges: I started with a monthly budget of $250 and scaled it to a 7 figure business. You cannot automate on a budget. You need to use face-to-face meetings