Finding the money to start selling houses wholesale

Is finding the money to start selling wholesale homes holding you back?

When asked what has prevented aspiring real estate investors from getting started and achieving their personal and financial goals through property wholesale, a surprisingly large number responded that finding the funds to get started was their biggest challenge. .

Of course, for many this may just be another excuse or form of self-sabotage. It certainly is hard to believe that with so much information available today that those who recognize the power of real estate investing to get ahead in life have not heard of no down payment real estate deals or how they can start selling houses with no cash. . or own credit.

Even if you need to put up a few hundred dollars to close a deal and close it, most can find a way to get it done. As long as you’ve taken the time to study a good real estate investing course and have a system for selling houses wholesale that fits your resources, there should be no excuse for not getting started and finding the money should be the smallest hurdle in his path.

Still, for those who insist on having access to more cash to get started, here are some options…

6 ways to find the money to start selling houses wholesale:

1.Family and friends

Perhaps the easiest and fastest way to find the extra money to start working in real estate is by calling family and friends. They won’t pull your credit or force you to fill out reams of paperwork to apply, and you certainly could be doing them a favor by allowing them to get more out of their savings and introducing them to the advantages of investing in property.

2. Hard money lenders

Hard money lenders have been driving investors to wholesale homes for many years. They tightened up a bit after the crisis, but are easing up again and are increasingly eager to lend. The principal loan is based on the value of a property and will lend in the ARV.

3. Transactional financing

Transactional financing is perhaps the best form of financing that an investor could hope to find. Transactional lenders don’t care about credit or assets and don’t even need an appraisal. Even better; will lend 100% of the purchase price plus closing costs.

4. Lenders and private investors

There are individuals across the country right now wondering how they can take advantage of the real estate market and get more bang for their buck and you have the answer. It can help them put their money to work to finance their acquisitions and earn better returns. It’s a win-win.

5. Crowdfunding

Crowdfunding platforms build on the above with websites designed to help investors raise money from the public. These range from trending sites like Indiegogo and Kickstarter to peer-to-peer lending sites like Prosper.

6. Credit cards and lines of credit

While it may not be wise to bury yourself in debt early on if it’s just a few hundred dollars for deposit money, due diligence, or miscellaneous expenses, most aspiring investors will find they can use personal credit cards or obtain lines of credit. Even if your credit is terrible and you’ve been through car repossessions and foreclosures, there’s a good chance you can get a secured card or line of credit from your local bank or more lenient lenders like Capital One.