4 Feasible Ways to Get Started in Wholesaling With Little to No Money

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People approach me all the time stating they want to get into real estate but have no money. The problem is that 9 out of 10 of those people have no work ethic, either.

However, for the people who are willing to work hard, I may have some tips to help you. Keep in mind that consistency is key. So if you are going to quit after two weeks, this probably isn’t the path for you. Any strategy will take time and money. But I will focus on those who you have a chance at wholesaling with little to no money.

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For Sale By Owner Sites

The first strategy is the most obvious: for sale by owner sites. These people are all ready to sell their houses. Generally, you will find they are too cheap to pay a real estate agent, but you still might find a deal. It will be better if you can use different strategies, like a lease option or owner finance. With owner finance, the price is not a big factor. The most important thing is the terms. To learn more about owner financing and lease options, search BiggerPockets. And please don’t be afraid to ask questions on the Forums. Talking to these sellers will give you a great deal of practice.

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Ads on Craigslist

The second way is through Craigslist. Call the “for rent” and “for sale by owner” ads. Again, this has to be done every day. It will take time and work. A fellow investor in my market found a seller on Craigslist, and with my help, she was able to make $9k. This did not happen overnight. She worked on it every day of the week. I want to say this was for around two months straight. To work this strategy, you should block out two hours out of your day, every single day, to just make phone calls to these people. The more people you talk to, the better the chance you have at getting a deal.

Related: The Power of Private Financing: 3 No Money Down Strategies That Actually Work

Cold Calling

The third tactic is the hardest; it is a old school strategy using cold calling. So you might start by buying a list or finding absentee homeowners. Then you would go to a site like 411.com and see if you can get their information. At that point, you would try to make initial contact. I know someone who only uses this strategy, and they do get deals, but they work very hard at it. Maybe you can go on your city site to see who has code violations and search for the seller to call them. This will take more time due to research. But if you don’t have any money and really want to get into the business, this can work. You might get a deal on the first call or the hundred-and-first call. Results will vary.

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Knocking on Doors

The fourth way is by knocking on doors, and you can perform this in two different ways. The first way is by getting access to a highly targeted list like a pre-foreclosure list or by just randomly knocking on doors. If you don’t have a car, maybe start walking your neighborhood. Or get on the city bus to a different neighborhood and start door knocking. Most people will laugh and say, “If you don’t have a car, how can you buy someone’s house?” I’ve actually seen people with no car do deals and eventually make enough money to get a car and run a successful business. It all comes down to how badly you want it. This business is not for the weak. This business are for people who go out and make things happen.

Related: How to Invest in Real Estate with No Money Down (4 Rules You NEED to Follow!)

In conclusion these strategies take no money to do. And you can start generating money if you are able to execute a deal utilizing these. I started off with no money, so I had to be willing to put more work in than the next guy. It’s simple, but not easy. I see so many people complain about their situation, but presented with the right information, they are still not motivated to apply any of it. I’m quite sure everyone has heard the saying, “You get out of life what you put in.” You have the option of taking on a lottery mentality while working your job for 40 years or doing real estate and retiring in 10 years or less. I have a friend who got started in real estate because of me and was able to become financially free within two years. He works a rural area and found a strategy that works for him.

Wholesalers (and aspiring wholesalers): Do you use any of the above strategies? What would you add to this list?

Let’s talk in the comments section below!

About Author

Nasar Elarabi

Nasar is a corporate failure who was saved by Real Estate. Nasar is now a Wholesaler, Rehabber and Landlord in the Charlotte area. Nasar may have just barely graduated college but can flip a house like an acrobat. Nasar's work can also be found at RealEstateDoru.com.

13 Comments

  1. Dave Slaughter

    This like others is a great article in getting started in wholesaling. Really, all the information is out there and for free that anyone needs to start. The challenge for most, myself included is creating the system for the tasks and consistently executing them day to day and month to month.

    Even the worst advice given if done consistently will get you calls. The discipline it takes to commit to sending out marketing every X day of the week and answering every incoming call, and giving everyone that calls an offer is the secret sauce.

    The podcasts and blog posts on BP hand us all the “how to’s.” It’s just a matter of organizing that information into a system then doing the tasks of that system every single day. Results will come.

    Thanks Nasar for another great set of instructions

  2. I am not really a people person but I was out of work and in my profession the work had dried up. I had an expensive hobby with horses, (everything with horses is expensive}. I rode in public and traveled to events a lot. I paid a pro rodeo friend of mine to shoe my 3 horses every 8 wks. a sizable chunk of change. One day he said, you know you could do this yourself. The next time he told me that he had talked to a neighbor who taught the the farrier science class at the college and had told him I would be taking his class.
    So it began my, second private business and my first that made real money. the internet didn’t exist to any degree then so if you wanted anyone to know who you were you had to meet them. I was good with horses and I needed money. My people skills were all but non-existent, no problem right, I would be dealing with horses. The only horses you can get paid to work on are owned by people,weird huh.
    I stopped everywhere I saw a horse and prayed that nobody was home and I could just leave a note and a number. Weeks and months went by and no great results and then a couple of people way off the beaten path called who had got my name and number from a place I had stopped and then I had to do good work and wait but not long. Days off became the problem, you can only work so much.
    That business had only one problem in that people were hiring an individual they trusted to work on animals they valued. This business is personal but you aren’t bound by the same sort of very personal attachment to the job. People for one reason or another need to sell property, I like property and I understand having to sell something. Still not great with people but hey we have the internet and until we decide to talk on the phone and or meet, I can be whoever you think I am. Truthfully my strongest suit is stopping anywhere there is a sign in the yard, I have been where they are.

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