Welcome back to the channel everyone this is Nathan Payne today we’re gonna be going over how to get started in wholesaling with no money. Stay tuned by the end of this video, you’re going to know exactly how to get into wholesaling even if you’re dead broke and have no money
Today I’m going to be showing you first what is wholesaling how you can make money wholesaling with no money, and some in depth strategies that actually I’m gonna go over an older video that I made that are still tried and true today on how you can get a deal with no money. So stay tuned till the end because I am going to give you guys something at the end. All right, so first thing we’re going to talk about is what is wholesaling. If you’re brand new, and you don’t know wholesaling is all wholesaling is is you’re finding a property, usually a discounted or distressed property, and you’re wholesaling it or assigning your contract your agreement that you get with the seller, and you’re assigning it to another buyer for a fee. They call it an assignment fee.
So let’s walk through a scenario where this would happen. I’m talking to one of my neighbors, they want to sell their house, but they don’t want to list it with a real estate agent. They just want to sell it very quick, and they can’t put it on the market. I would go and I’d say hey, I can pay you $100,000 for that house, even though it’s worth 250 fixed up, I’ll give you 100,000 Because I need to fix it up. And that’s my offer, right? Then that seller would say okay, yeah, I’ll take 100,000 And then I would sign a rep see a real estate purchase contract with them saying I’m gonna buy it. And that contract has to be assignable. So if you don’t have an assignable contract, I can give you one they’re available. But yes, you would have to have them signed assignable real estate purchase contract. So once they sign that you would go and find a buyer, a flipper an end buyer, and you would say, Hey, I have this property, I’d like to sell it to you for 140,000, that buyer has the opportunity to say yes or no. If they say yes, then obviously you can assign your agreement to them for a fee. And when they close, then you get paid that fee at the end. That is what wholesaling is didn’t take you any money to do that deal, right? You just found the seller, your neighbor, and you assign it to someone. And without owning the property you have to purchase the home yourself did paperwork and you made that money that that essentially is what wholesaling is so how can you use wholesaling the strategy that we’re talking about to make money if you have no money, well kind of just went over that you can take a property that you do not own, you have the rights to purchase it and you can assign it to someone for a fee.
That is how you can make money with no money. The hard part is finding the deal right or finding the buyer that will buy the deal. That’s where the strategy comes in. And that’s why we were watching some more of my videos and learning the strategy of how to wholesale comes into play. But really, it’s a pretty easy concept to get wrapped around your head wrapped around it’s just getting a seller or finding a buyer and finding a property that he wants and then or she whatever the buyer wants and then assigning that deal to them for a fee. So you can do this with no money and right here check out this video that I’ve made previously. It’s still tried and true you it shows you all the in depth strategies on how to get deals without spending any money.
But before I actually go into that video, I want to ask you guys to do me a favor, will you please like subscribe and hit the bell icon it really helps me out. I’m trying to grow this channel, I’m trying to help more people learn how to get into wholesaling the right way. A lot of people have been taught the wrong way where they just go and spend all their money. They don’t know what they’re doing. They’re not confident they feel like they’re being shady I what I teach is called the Payneless Wholesaling method where I teach you guys how to do this business the right way with confidence.
So like, subscribe, hit that bell icon and help me get this message out there. And let’s jump right into that video that I told you I show you guys
So the first step in starting wholesaling with no money is to find a hot motivated seller lead, right. So to do that the best way to market with like, having absolutely $0 is door knocking. So if you want to go out and door knock, it’s simple. I mean, it’s very straightforward. You don’t do anything crazy. You go to an area where you think there are good deals, right? So you typically like an older neighborhood
will in the 70s or maybe a little bit rundown houses, right? Just deferred maintenance stuff. And you go to the door, you knock on it, they open it, you know, you introduce yourself, you say hey, I’m looking to buy a house in the neighborhood.
I got some money set aside to buy a house just was interested to see if you’re looking to sell. Yeah. And you know, we use when we did it was hey, we have a buyer that you know is interested so it wasn’t us knocking right we have a buyer that’s interested in buying a house and they were would you be interested in selling? Yeah, the pitch isn’t super important. It’s just be quiet because the straight to the point like they don’t want to, they don’t want you wasting their time and you don’t want to waste time on someone who’s not gonna sell. So, you know, that’s pretty much how you do or not though. Another quick point is you can bring little sticky notes and if no one answers, leave your name phone number and ask them if they’re if they thought about selling. Yeah, that’ll get you some calls. And by the way, we did this when I first started we
Add $0. So we knocked on a door got a 17k deal, eventually, it works. So it takes time, but it works.
So the second option that is good is when you have a low budget, or you actually need a maybe something for this is driving for dollars. So when we were just talking about door knocking, when we used to knock doors, we would also write down on a list of homes that look distressed that we would later either send a handwritten letter to, or we would cold call, or we would text you know, as, and we’ll go into that later. But driving for dollars is good, because it doesn’t really require a lot of money or any money for you just to write down properties that look distressed, if you gas money, just gas money, right. Or if you’re walking, right, just write it down. And there are apps applications you can get on your phone that will mark properties. But that does cost a little bit money you can get into those later, there’s like deal machine us for 50 bucks a month, right so that when you start driving for dollars, you’ll probably need a little bit of money. But if you want to do it the cheap way, just write down a piece of paper, write down on your notes on your phone, and Mark properties that look distressed that you can reach out to you with a handwritten letter, even just open Excel on your phone and type it in there. So it’s already on. So now that so driving for dollars is another way the second option to get money deals and find motivated sellers without a lot of money or little to no money
So the third strategy for marketing or for marketing with no money, which is not no money, but you can start with no money is cold calling. So cold calling if you want to if you have absolutely no money. To start out, what you do is you go on Zillow, Craigslist, you call for sale by owners. But if you have a little bit of budget, then you can get a list. You know, a motivated seller list whether that’s like pre foreclosure, or absentee owners or high equity, high equity divorce, like there’s so many lists.
But you can get those lists and then you can start calling them you can dial them after you skip trace them down individually. Or you can get a dialer, which is like an automated calling system that will dial out multiple people at a time and once you connect to someone, then you can talk to him.
So those are that’s kind of like how you would cold call, but it does require some money. If you want to die, there’s gonna be like 100 to 200 bucks a month in the list maybe like 100 to 200. So to wrap up the cold calling you yes you can do for free, you can call for sale by owners or you can even network with a wholesaler in your market and get one of their list and just say hey, can I get your list I’ll cold call and if I get a hot lead, maybe we can split it or I can give you you know if I get the deal I’ll pay you like a little percentage, right or you can call your driving for dollars list after skip tracing to right so cold calling is huge. I mean that’s how we got our deals in the beginning we had no money is we cold call so it works
So texting is the fourth option that we’re going to talk about to get you into wholesaling with no money, obviously have a cell phone, you’re I mean, most people have a cell phone now you can just text people on the for sale by owner on Zillow for free. I mean, you can text hey, I want to buy a house, you can negotiate it. But as you maybe if you want to get a little bit more strict with it and a little bit more developed, you can get a texting platform that usually costs 500 to $1,000 a month that lets you text like 1000s of people once you can upload this and they’re just text of time. But if you’re writing real low on how much money you have, you can just text from your phone, and you can get a list. The for sale by owner or like we talked about previously, with cold calling, you can reach out to a local wholesaler and say hey, do you have a list that you’ve already skipped traced. And if I get a deal from here, I’ll cut you in. Maybe we can get I’ll give you 10% of the deal by negotiator and you can just network with them. So there’s a ton of ways with $0 to get to a deal for texting. Yeah, to be honest, texting is probably the best avenue to get a deal.
Because especially with limited budget, you can hit more people once if you go knock the door everyone everyone sees the text. Right, right, right. I think like the stat is like 93% of people look at their texts. So it’s a good great way to get some traction, especially early on. But you do probably need like some limited budget to do. Yeah, I mean, if you want to do effectively, right, like one text at a time, it’s gonna take take a lot of your time.
So let’s review those strategies probably from least expensive to move
It’s expensive. So first you got door knocking completely free, right? You got driving for dollars, a little bit of money, but that honestly doesn’t get you leads. And it sounds like you still have to reach out to those people through cold calling or texting. So three would be cold calling, and then four would be texting. Right? And those are great ways to get deals.
We use those we still use those you guys can do it. I mean, we’ve started with $0 and now we’re at one right now we have marketing budget we have a team. So just consistently if you want to get deals, you’re not going to be able to knock on door get a deal you’re gonna have to be consistent.
If you want to get a deal from cold calling. You’re not going to call one person maybe you might get lucky you have to call 1000s of people this is no joke. You want to get into this game you got to work hard. So if you like this information if you liked this video please please like I said like subscribe and hit the bell icon and also I want to give you a gift I told you I’ll give you a gift at the end of the video. I run a free masterclass where I teach you exactly how to do the strategies that helped me do deals consistently with little to no marketing spend. I want to teach you this on one of my master classes that I do every week. All you have to do is go to paynelesswholesaling.com That’s the website where you can go and register for free and if you go to the free masterclass, we’re going to give you a gift too. So I’m all about giving so keep on keepin on please watch, subscribe, like hit the bell icon. You know all that and please go to my webinar, my master class. I really think it will help you succeed. So see you next time.
