{"id":4540,"date":"2024-11-05T20:42:35","date_gmt":"2024-11-05T20:42:35","guid":{"rendered":"https:\/\/investorthrive.com\/?p=4540"},"modified":"2024-11-05T20:42:44","modified_gmt":"2024-11-05T20:42:44","slug":"how-to-start-wholesaling-houses-with-no-money","status":"publish","type":"post","link":"https:\/\/investorthrive.com\/how-to-start-wholesaling-houses-with-no-money\/","title":{"rendered":"How to Start Wholesaling Houses with no Money"},"content":{"rendered":"<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe title=\"How to start wholesaling houses with no money\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/Qihr__9j0Cc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure><p>Welcome back to the channel everyone. Today we&#8217;re gonna be talking about how to wholesale a deal with literally no money. You don&#8217;t have any money to market. You got you don&#8217;t have even a dime to your name, but how can you do a deal? Still? Let&#8217;s dive in and let&#8217;s show you exactly how to do it before we dive into how to wholesale deal when you literally got not even a cent to your name, let&#8217;s talk about my Facebook group. If you&#8217;re brand new and you don&#8217;t have a lot of money, you should definitely check out my Facebook group, because it&#8217;s free.<\/p><p> You&#8217;re going to learn how to wholesale you&#8217;re going to learn how to network with other people. You&#8217;re going to learn how to do the painless flipping strategy. So go check it out. Just go to paynelessflipping, P, A, Y, N, E, Paynelessflipping on my Facebook group, and we&#8217;ll let you right in. So let&#8217;s dive into how to do a deal when you got literally no money. Guys, I haven&#8217;t experienced what. I just did a deal for $7,000 it was the total assignment fee was 7000 and I didn&#8217;t spend anything $0 and you can do the same thing too. So right here, I&#8217;m gonna break down exactly how I did it. <\/p><p>Actually have a call where I had a couple people I was explaining it to. So I think it&#8217;s just makes sense to just show you that video, because I do a good job of explaining exactly how that deal happened, what I did, the step by step process. So let&#8217;s dive right into this video so you guys can see exactly how I got it done. So the strategy that I have, it&#8217;s very similar to traditional wholesaling. But it&#8217;s not the same with traditional wholesaling. A lot of times they just tell you to find, go find a deal. <\/p><p>I tell you to before and going to search for deals, spend like, a week or two really diving in and developing relationships with your buyers. And it&#8217;s not something that once you do it, once you&#8217;re done, it&#8217;s like a continuous thing. So this is called painless, flipping deal timeline. So I&#8217;m going to give you a breakdown of how I did this deal for for people that are new and they&#8217;re they want to try it. So you pick a market. If you guys are new and you&#8217;re like, let me be in Tampa, let me be in Jackson, let me be in Atlanta, let me be in Dallas. I don&#8217;t recommend that you want to be in one location. Okay, especially when you start I&#8217;m in there&#8217;s even people in my market. They&#8217;re doing three, $4 million in their one market. So a lot of people, they think they have to jump all over to do multiple I guess, generate a lot of revenue. There&#8217;s enough deals in in your market to go around. <\/p><p>There&#8217;s enough revenue. So that&#8217;s a limiting mindset. I had that too. I had that limiting mindset for a while, and then I went back to Utah. So anyway, I went nationwide, and I was like, Oh yeah, there&#8217;s more deals here. Yes, of course, there&#8217;s more deals, but there&#8217;s more things you have to figure out pick one market. So once you pick your market, it&#8217;s time to find some buy. Find some buyers. So how do you find buyers? Guys? Number one, my favorite, is title companies. I call investor friendly title companies, and I ask them who&#8217;s buying. You can ask hard money lenders. Hard money lenders give money to their buyers so they know who&#8217;s buying, or they know who&#8217;s actively looking. Agents. You want to network with agents. You can get buyers list and call through them. That takes a little longer. These, you know, I&#8217;d like these more because they give you warm referrals. <\/p><p>Social media posts are good to find buyers. And real estate investing meetups, I have a meet up every month. A lot of buyers go there and they&#8217;re like, Hey, who&#8217;s got deals? So it&#8217;s definitely a good place. So this deal that I got okay again, three hours to do this deal and five days. Anybody in here that hasn&#8217;t done a deal, can do a deal if they do this within a short amount of time. So all I did, if you guys can see his picture, I asked my title company for a buyer. I said, Hey Christina, who&#8217;s buying right now in August. She says, I&#8217;m asking some people. She texts me and she group text me with Scott. I&#8217;ve never met Scott before. Said, stinks. Looking forward to meeting you, Nathan. She text messages me and says, Hey Scott, this is a guy who&#8217;s got a deal. He said, Hey Scott, when do you have time to talk on the phone?<\/p><p>I immediately talk to him on the phone. I don&#8217;t text back and forth. That&#8217;s not how you develop relationships. I don&#8217;t know if any of you guys have developed, like, a great relationship only over texting that&#8217;s long lasting. You need to get on the phone. Same thing, like with dating or girl, you can you can text or text her all the time, but really when you meet in person or you get on the phone. That&#8217;s when you really know if you&#8217;re vibing. So anyway, I got his contact info, we started talking, and then I started sending him deals. Okay, so that&#8217;s how I got my buyer. <\/p><p>So when I talked to Scott, what was my goal? I didn&#8217;t call Scott, and I wasn&#8217;t like, Hey Scott, like, what do you want? What do you want to buy? It wasn&#8217;t like that, okay, you want to, like, go there and provide value. So when I talked to Scott, I&#8217;ve been wholesaling for a while, so I called him, I said, Look, man, how you doing? I do several deals, and, you know, I&#8217;m looking for specific buyers I can work with where, you know, I can call them, ask them if they&#8217;d be interested in a deal, and I can get a response. Because the the fact of the matter is, you know, a lot of people email blasts out their deals. I don&#8217;t do that. I call you directly and see if this is a fit for you. Or I texted you and I hope you I would like a response quickly, because I only talk to about a couple buyers. My style isn&#8217;t just blast out crappy deals to everybody and just hope that someone responds. <\/p><p>So I provide value by saying, Hey, you&#8217;re one of my go to guys. Okay? Or I&#8217;d like you to be you want to get specific on what they want be like. I also don&#8217;t want to be sending you anything that or calling you about anything that you don&#8217;t want. Let&#8217;s get specific on your criteria of what your Buy Box is, what you want, how many deals you can handle at a time, all that stuff you want. To get specific on what they&#8217;re looking for. So it&#8217;s not just like, Hey, my name&#8217;s Nathan, and he&#8217;s like, yeah, just send me anything you get. That&#8217;s not going to work if some a buyers just like, send you everything and you haven&#8217;t developed, like, a good relationship, you&#8217;re. They&#8217;ll probably never respond to you. So I get a specific and you can get buyers criteria also from agents to agents have buyers. Okay, so ask the right questions. Pretty simple. I mean, so search for deals now look. <\/p><p>Brent teaches cold calling. Definitely. Cold calling works. I&#8217;ve gotten several additional cold calling but what I show tell people to do is, when you&#8217;re very, very, very brand new, supplement this in if you&#8217;re going to cold call, great. But if I also think you should do deals from these avenues, because they&#8217;re free, okay, so you got deals from the MLS, that&#8217;s from multiple listing service where Asians have deals wholesalers, Facebook groups, okay? Henry, one of my students from Vietnam, who&#8217;s got a really thick accent, he got a deal from a Facebook group, okay, for free. Didn&#8217;t spend any money. He just looked for deals online platforms. There&#8217;s multiple online platforms right now that you that list deals, marketplaces, pocket listings from agents. So this is how I got this deal. I got the email blast from my buy from wholesalers and agents and all this stuff in my market. And I look at those deals and say, Hey, would any of my buyers be interested in that? Now look, a lot of my buyers are on the list of all these guys, like even blink home buyers. He was on their list, but they sent the deal out too high. I think a big problem with wholesalers. <\/p><p>They don&#8217;t know, sell their deals. They spend all this time doing acquisitions, and then they blast it out too high. People see it, they&#8217;re not interested. They move on. So anyway, so 425 is what they sent it out for. I saw this, and I said, Hmm, I think Scott would be interested. He loves Murray. Okay, so I send this to Scott. I analyze the deal, and I didn&#8217;t just send it to Scott without talking to the wholesaler. That&#8217;s the thing this. A lot of people think this is daisy chaining. Daisy chaining is when you just get email other listings from other wholesalers and just send it to your buyers. Not what I do, not what I teach, not a good idea. What I do is I analyze the deal and see if it makes sense. And this is a quick analyze, because I&#8217;ve analysis, because I&#8217;ve been doing this for a while. So I&#8217;m like, Oh, this is, this is close because it&#8217;s in Murray, but not, not yet, not like, close with no cigar. <\/p><p>So I called the wholesaler. I called the wholesaler, and I found out what was going on. Okay, and here&#8217;s some pictures of the text conversation we had. And then I called her. Said, Hey, Brandi, what&#8217;s up? This is Nathan. I think I have someone for your flip. They&#8217;re like, Oh, okay, um, there&#8217;s a walkthrough today. I said, Hey, I sent this to one of my buyers because you said it was cool. They&#8217;re actually a little bit lower than, they&#8217;re a lot lower than what you you&#8217;re asking price at 425 should I still send them to the walkthrough? She&#8217;s like, how much lower? And then I said, 393, and she said, That&#8217;s less than what we got it for. So it&#8217;s probably not worth sending your buyer. I said, I totally get it. Let&#8217;s hop on a phone call. She actually told me before hopping on phone call. She has it at 400,000 so we hop on a phone call, and I call her, and again, it&#8217;s about providing value. So I call her and I say, hey, look, I have some buyers, but 425 is not gonna work. She&#8217;s like, Yeah, we might just flip this one. I was like, Do you like flipping? She&#8217;s like, No, but sometimes we flip them if we can&#8217;t wholesale. So we just developed a relationship. <\/p><p>I was just talking, you know, seeing how I could help. So a couple days later, she texts me and she says, Hey, we don&#8217;t really want to flip this thing. Can you see if any of your buyers would be interested? And I was like, Well, I had the one at 383, I can try it again. Let me just text someone I think would be interested. So I text Scott, we&#8217;re right here is bringing the deal to the buyer. Okay, I don&#8217;t have a JV agreement. I haven&#8217;t signed any paperwork. I haven&#8217;t done anything. She just asked me to bring it to a buyer that I have a relationship with. Okay, so this is all this is to catch you to this point is I saw a deal on them. I picked my market. I saw a deal that was for a free lead, and then I called the wholesaler and said, What&#8217;s the situation? Again, you just don&#8217;t send it out. You say, what&#8217;s the situation? And I knew that they&#8217;re probably gonna have a hard time selling it because they were overpriced. But there&#8217;s it was close, and then I bring it to my buyer. Okay, so what happened, guys is I wasn&#8217;t trying to fluff it up and be like, 410 415 420 I just said, Look, dude, we have it 400,000 if you pay a little bit more, then we can get, I can get it done for you. So we got to negotiations. <\/p><p>He&#8217;s like, Well, what? What do you want me to pay? Because 400 is tight. I said, Can you 407 so I can get paid, and then I can get paid. And I know it&#8217;s a tight deal, so let&#8217;s just get it done. He&#8217;s like, okay, I can do 47 so I was like, Okay, great. So I get went back to the wholesaler, and I made the offer to the wholesaler. Just said, Hey, Are you cool with this? Are we good to go? And we negotiated. They said, Yeah, 407, is cool. You don&#8217;t want to flip it. Let&#8217;s get it done. I know the wholesaler, I know the buyer, I know the title company, I know everybody, because I&#8217;ve been doing this for a while, and you&#8217;ll get to that point. So I didn&#8217;t have to sign any paperwork, guys, I didn&#8217;t do a JV agreement. I didn&#8217;t sign a wholesale agreement, and didn&#8217;t do any of this because I knew everybody. No one&#8217;s going to snake me out of this deal. And by the way, and people don&#8217;t snake you out of deals if you provide value. Maybe if you just work with someone random, you don&#8217;t know who they are, you don&#8217;t trust them. I would get a JV agreement, but I just said, yeah, just throw me in. Just give me half of the assignment fee. So they sent all the paperwork. <\/p><p>They filed everything to the title company. After I coordinated the walkthrough, they did the paperwork again. So I just got paid $3,500 I know that&#8217;s not like crazy guys, but with three hours of work, no paperwork, no signing, just a couple text messages and phone calls. So the wholesaler did not make any money. So the wholesaler had it at 400,000 I gave it to my buyer, 407 and I said, Let&#8217;s split it. So both of us made $3,500 okay, we split. We split $7,000 now, if that was like your whole business, you you&#8217;d obviously have to do more volume for this to make sense, but for me, it&#8217;s, uh, not bad, because I didn&#8217;t spend too much time. I run a coaching business, so most of my time, I&#8217;m going to be honest you guys, is spent building that. It takes a lot of time to do that. So the deals that I. <\/p><p>Do are like this, like, where I don&#8217;t have a lot of time, but I am getting more deeper into it, where I&#8217;m, like, being able to delegate more time off of my coaching and doing this, before I got into coaching, I was doing tons and tons of deals, but, you know, I wanted to build it up and help people learn the strategy. And this is what I do with real estate, just, you know, on the side, pretty much. And you know, one to three deals a month where I&#8217;m making anywhere from like, 10, $20,000 a month, pure profit. Okay, this. There&#8217;s no marketing spend here. So let me explain how I got paid. I connected the buyer to the wholesaler. They already knew each other. They were already on the list. The reason why they didn&#8217;t work together is because they blast out their deals to hundreds of people, 1000s of people on their list. And they just didn&#8217;t think of this one guy that I thought of because I have a relationship with him. <\/p><p>So they&#8217;re like, oh, you know, we know them. We know him. So don&#8217;t worry about it. We&#8217;ll connect. And all they did is they assigned their contract for 400,000 to Scott for 407 okay, they signed it, and on the assignment, it says a fee. Says $7,000 fee. Assignment, fee. And then on the assignment they wrote 50% or half of it goes to Nathan Payne. Okay, I didn&#8217;t have to sign it. Didn&#8217;t have to do anything. And then I got a call from my title lady, Christina, and she&#8217;s like, Hey, we got you to check it&#8217;s ready for you. And guys, this strategy is truly, I&#8217;m telling you, it&#8217;s painless. All right, takes time to build those relationships. But I&#8217;m telling you it is, it is painless. Let me show you. Like, even my title lady, like, look how dope this is. So she wrote this anyway. Sorry if you guys can&#8217;t read that, but it just says, Nathan. The best part is, I had no idea, and you didn&#8217;t get a call until the check was ready. <\/p><p>Truly painless. Send them all my way. So my toddler didn&#8217;t even know I was involved until it was time to get paid, like, until she got the assignment. She&#8217;s like, Oh, cool. Pretty sweet, huh, guys. But I want to make sure everyone understands is how powerful this strategy is with a blown up wholesaling operation that&#8217;s crushing it for a new this is just you need to know this, because I can&#8217;t tell you how many deals I&#8217;ve done through working with wholesalers. I&#8217;ve done over half a million dollars doing deals with wholesalers with little to no marketing spend. I&#8217;m telling you guys, this is a great strategy to supplement your business. If you like this information, please like subscribe and hit the bell icon for more info, so we can grow this channel and you can learn more about how to become a wholesaler, real estate investor. You.<\/p>","protected":false},"excerpt":{"rendered":"<p>Welcome back to the channel everyone. Today we&#8217;re gonna be talking about how to wholesale a deal with literally no money. You don&#8217;t have any money to market. You got you don&#8217;t have even a dime to your name, but how can you do a deal? Still? Let&#8217;s dive in and let&#8217;s show you exactly [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-4540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":{"url":""},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/investorthrive.com\/wp-content\/uploads\/2024\/11\/maxresdefault.webp","_links":{"self":[{"href":"https:\/\/investorthrive.com\/wp-json\/wp\/v2\/posts\/4540"}],"collection":[{"href":"https:\/\/investorthrive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investorthrive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investorthrive.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/investorthrive.com\/wp-json\/wp\/v2\/comments?post=4540"}],"version-history":[{"count":0,"href":"https:\/\/investorthrive.com\/wp-json\/wp\/v2\/posts\/4540\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investorthrive.com\/wp-json\/wp\/v2\/media\/4541"}],"wp:attachment":[{"href":"https:\/\/investorthrive.com\/wp-json\/wp\/v2\/media?parent=4540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investorthrive.com\/wp-json\/wp\/v2\/categories?post=4540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investorthrive.com\/wp-json\/wp\/v2\/tags?post=4540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}