Everyone wants to know how much money do I need to start wholesaling real estate. Well today, I’m gonna break that down for you stay tuned by the end of this video, you’re gonna know exactly how much money you really need to get started wholesaling real estate and getting deals. I’m also going to tell you exactly what is wholesaling. So if you this is for the first time you’re getting into this and you don’t know what wholesaling is, let me explain that. And I’m also going to explain what strategies I specifically use to get deals with no money or maybe a little bit of money if you have to okay
so what is wholesaling? Wholesaling, basically, in a nutshell is finding a deal a discounted property and getting it under contract for you to purchase the home and exercising your right to assign that deal that contract that you have for 200,000 to an end buyer for to cash buyer to someone else for a fee. So if I get this house at 200,000 and I find someone that’s willing to pay 210,000 All I do is I take that paper and I assign it with another contract. So I have my real estate purchase contract, I get an assignment contract, assign it to the person, my end buyer for a fee, and I give it to them, they sign it and then I can ever sign my contract for a fee of $10,000 and that’s it. I never purchased the property I never owned it all I did is I took my rights to purchase it and then the buyer he closes the title company the title company wires me my fortune for assigning it and that’s it.
That is what wholesaling is in a nutshell. Very basic very easy. So you’re probably wondering how much money do you really need to get started wholesaling. Let me tell you right now you don’t need any money to get started wholesaling. You can do deals for absolutely free and actually have a video breaking down how I do all the strategies, or like most of the strategies I use to get deals with little or no money spending to get deals. Alright, so before I break down that video on exactly how to do that, I want to invite you to the Payneless Wholesaling masterclass that I do, where I show you exactly how to get more deals I know I’m about to break down for you right here, but actually go live live.
This is a video I go live every Thursday at 6pm Mountain Standard Time I show you exactly how to do this business for free. I’m just hooking it up, paynelesswholesaling.com. Just go there, check it out, register, and you’ll be able to meet me live where I teach you exactly how to do this business. But until then watch this video this this one I’m about to write down where it shows you all the strategies that I do some of the strategies that helped me make money with little to no marketing spend. So let’s dive right into it. So what I did guys is I created a Google form called the cash buyer Buy Box, okay? And it’s super easy. If you guys don’t know how to create a Google Form. Anybody that has Google a Gmail has a drive. It’s very simple. You just type in my Drive or drive. And then you go and create a Google form. Okay, I won’t make one live with you guys. It’s pretty simple. You just fill it out with specific questions. Mine has the questions that I want my buyers buyers to answer so I know if they’re legit or not. Okay, so it’s really good to know what my buyers want, right? So right here, I see that this buyer he tells me that he wants to buy his budget on price range is 200 to $600,000.
Okay, all right, let’s look at a it says a few Mills so this guy can buy whatever up to 350 to 450. Okay, so this this guy saying up to so he wants to buy less than that this is give me an idea of what I need to look for. So what I do is I’ve got a bachelor leads and I look up specifically what my guy wants. So we’re going to look specifically in this area that he likes so it’s really cool to batch just go mark the area we’re going to mark this whole area and like again, he said he’s between 200 to 600,000 According to my Buy Box and we’re going to go over her filter again you can do so many filters but just for this example to show you what to do so right here there’s 3400 properties that meet his criteria in cash value so instead of going all over trying to find properties Utah just text blasting a bunch you know or cold calling I can specifically go and say I’m gonna find him a deal here and his criteria and then when I find some I’m going to call them and say hey look man, you said you wanted something in this area right? I got you what will you pay so instead of me locking the deal, Brian to blast it out to my buyers I first I have a buyer that has given me his criteria. I know he’ll give me an idea of what it’ll pay.
So that’s how you do with batch and obviously you select all you add the list you skip trace it and then you can text blasts that you can call it cold calls batch dialer, you can do knock the door now the cool thing about the new batch leads 3.0 is okay again you can sniper you can be a sniper instead of doing the shotgun approach. So I know my guy loves Logan cash valley right from what I saw on Google I can go to a specific neighborhood and drive for dollars virtually or pay a virtual assistant to do it. Let’s look for some crappy houses and cash value. Okay. All right. Let’s see I’ve never been in this area don’t know anything about it, but we’ve got to find some free rush houses Ooh, already just dropped the little guy right in that area. And we already got something, let’s do it right here.
So this is how you drive for dollars, you just go to save. And in this scenario, we would create this list and it would, we would call it pass Valley driving for dollars. And then you would put it under the tag of, oh, sorry, I already have existing time for this, you do driving for dollars. So then you save and then you’re creating a list for the specific area for the buyer that tells you what they want. And then you call cold, call it, text it, knock it, do whatever you got to do to get in front of person and make them an offer. So what I’m showing you guys is specifically how to get deals instead of the shotgun approach, you can go ahead and do it, you know, a way more efficient way. And if you have acquisitions managers, they should need they need to learn how to do this, they need to learn how to underwrite.
Now, let me show you another technique that I’ve been using other than just going to batch and specifically picking an area that you have for a buyer that’s filled out your cash form, and they tell you what they want you also, I mean, I don’t know if any of you guys have recognized or realized but the amount of wholesale deals that are being blasted out by wholesalers. It’s increased a ton, right? And what are most wholesalers do because they blast out their buyer list. And if no one gives them a hit, they just maybe they cancelled the deal. What I’m doing is I’m looking at these deals, and I’m specifically looking for ones that my buyers want and then I’m just calling them saying hey, I got a deal. What would you pay for this and then I’m making the offer with my spread because I already have the buyer that requires no money and I’m making money off other wholesalers deals do the wholesalers care if I wholesale it not if they get this not they accept the offer.
They’re getting what they they agreed to. So let’s see if there’s anything in Cache Valley that’s been listed from a wholesaler okay mobile home and Hiram. I don’t have any buyers that want mobile homes as far as I know but let’s comp this one using bachelors and see what it’s worth Let’s shoot everybody it’s actually in Cache Valley, Hiram Utah and my guy says he likes buying in that area. Maybe he wants this mobile home want to find out let’s see. Let’s see. I want to see this is still available. Okay, so this came out 19 So that was several days ago. We call the wholesaler to see if it’s available. I’m just I’m curious. Okay, hold on offers due Monday the 26th Okay, so they’re probably still accepting offers due diligence must end non refundable deposit ARV that these are the comps I don’t always believe wholesalers comps but he says 60,000 So actually I’m going to call one of my buyers right now and ask him if he saw this because you know he’s pretty active on this so again, I’m reverse wholesaling right now okay
maybe you’ve answered that he’s not Yeah, maybe he won’t he’s a busy guy. Alright, let’s see. So let’s let’s my guy didn’t answer let’s see this one and they might not answer me just because I got the Georgia number but I live in Utah Mark I need to change that number. But I usually call the incompetent guy because I call you twice you know, I’ve actually never call this buyer before they just filled out my form we’ll call it again. Oh, this is Crystal crystal How you doing this is Nathan Payne I you filled out my form a little bit ago about the meaning of cash buyer your criteria having criteria how are you doing? How are you doing? Good? Hey, I was just calling just to kind of get to know you. I know. I don’t think we’ve ever met at least not that I remember. But I was wondering if you had a couple minutes to talk I might have a property you might be interested in I have a couple minutes I’m at work but I’m on my lunch break. I just got to go back in a couple minutes right now. I’ll make it super quick. I was just curious if you if you buy mobile homes in the Cache Valley area I saw that you said you buy you prefer northern Utah especially Cache Valley is that right right yes
never done a mobile home but I don’t know I just I would look at it look at it I usually I like to flip them I guess it is pretty new. I’ve only got a couple of times so I’m doing one at a time for my next one. Okay.
You have something here closer to home which I live up in Logan Yeah, so this one isn’t higher. Open higher. Yeah. Is that close yeah. All right. Yeah, so I can send you some information on it see what you think on it and you can get back to me have a good day oh guys look at that like you know I basically I just gotta find out if the property is still available I’m I have a buyer’s just called Joe Joe How you doing? This is Nathan Payne. I’m just calling about your mobile home listing. I had your email. I was wondering if it’s still available, which was the Hiram Utah 564 Sorry 546 Valley View Drive Hiram. Oh yeah, I have a buyer so I fix and flip and a wholesale but also I know a couple people in Hiram that in Logan that look for stuff like this. So are you guys cool if I you know, if I bring someone in, just throw my fee on on top if you guys accept the offer? Yeah, that’d be great. I’ll let you know. Thanks. Bye, bye. Alright, cool. So it’s still available. He basically said, hey, 24 probably going to get it done. I’ll send it to my buyer to Hey, this is you know, we can get it done. Let me wrap up this call by sending this information. Going to that buyer will show you how to do it. So I’m literally going to make this listing right here. I’m just going to copy and paste the information and send it over to her and just like this like it’s my own deal. Okay, pretty simple. So I’m going to compose an email. What else am I gonna do? You’re gonna get the pictures. Alright, send it over boy easy peasy lemon squeezy. If you liked that information, please like subscribe, hit the bell icon it would really help me out and check out this next video that I have right here.
