How much money do you need to start wholesaling real estate for big profits?
Probably a lot less than you think…
All late night infomercial hype aside it is a lot easier to get started out in real estate investing than most think, especially for those choosing wholesaling real estate as their primary strategy.
Even without no money down deals, for those doubters out there, there are still many investors reporting making 5 figure checks with as little as $100 out of pocket to secure contracts before assigning them to other investors who turn around and rehab and resell or rent them out. Some types of foreclosures homes may require $500 or $1,000 in upfront deposit and some sellers with aggressive real estate agents make ask up to 2% of the purchase price. However, these are all relatively small numbers when it comes to controlling so much in real estate.
Even if conventional mortgage loans are tough to qualify for today there is plenty of money out there for investors to take advantage of whether actually buying and flipping their deals or just flipping the contracts. Look into hard money loans, transactional funding and private mortgage lenders for more help without the difficult hoops
As far as finding deals and turning them around goes all it really takes is great networking skills and a lot of drive. Even simply armed with a phone, laptop and the internet a good volume of deals can be done each year.
Of course it can be a lot easier if you do have cash of your own to begin wholesaling real estate but if you are unemployed right now or are looking for extra income you may not have another choice. As the money comes in you can then expand into building websites, blogs, advanced marketing and hiring staff to help you out. The most important thing is to invest in building up your real estate investing knowledge and education in order to avoid the pitfalls.
