How To Wholesale Real Estate, No Money - It's OK

Conquering wholesale real estate no money -  not an issue. Most of us don't have any money in the deal, just time and a good outlook.

What Real Estate Wholesalers Have In Common

  • In order to make money with real estate, some basic math skills are needed. No one wants to get involved with a real estate deal that isn't profitable.

  • If you aren't a people-person, wholesaling real estate probably isn't for you. Most sellers have a story that goes along with why they are willing to wholesale their property, and often it's a sad story. If you have a heart to help others, you will find more success.

  • Wholesalers know their neighborhoods like the back of their hand. They know what property is vacant, just rehabbed, recently sold and is for sale with a realtor.

Money isn't needed to help a homeowner offload their real estate responsibilities 

Locate homeowners who need your help is the first step to wholesale real estate no money. When you take the time to learn all about a neighborhood or specific area, you will see the clues pointing you in the direction of houses that are ripe for the wholesaling entrepreneur. 

Mailing postcards and letters can be helpful to generate leads, but then you have the expense of postage. What I have found to be a more effective way to get leads is to ask -- ask the neighbors as you walk the neighborhood. Ask real estate professionals such as real estate attorneys and escrow officers to keep you in mind when they hear of anyone needing to sell in a hurry. I got my first wholesale real estate deal just this way! A perfect example of a wholesale real estate no money deal. 

Wholesale real estate without money -- just my friend and my post it note asking for a call.

Going online to see which properties are delinquent with their property taxes and then getting in touch with the homeowner is more profitable than direct mail, at least in my experience. Nothing takes the place of person to person communication whether that be in person (at their house) or a phone call from you asking if you can help.

When the weather is nice, I like to walk an area armed only with my business cards and a post it notepad. As I recognize a possibility, clues like Christmas lights still up and it's July, I leave a simple post-it note on the best entry door and ask for the call.

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