How Much Money Do You Actually Need to Start Wholesaling?

“I have two options: Do it with a friend who’s in the same situation (neither of us has experience), or get my real estate license and start with a company.” — Real investor, Facebook group

The honest answer: you can start for as little as $500, but you’ll move much faster with $1,500-$3,000.

The Bare Minimum ($0-$500)

• Driving for dollars: Free (gas + your time)
• County records: Free (public data)
• Cold calling: Free if you use your cell phone
• CRM: $1 for the first month with DealBase
• Contracts: $200-$500 for attorney review
• Total: $200-$500

This works but it’s slow. You’re trading time for money, and your reach is limited to how many calls you can manually make.

The Realistic Starter Budget ($1,500-$3,000/month)

• Data/lists: $50-$100/month (PropStream, BatchData, or similar)
• CRM + phone: $200-$650/month (DealBase)
• Marketing: $500-$1,500/month (SMS, direct mail, or PPC)
• Skip tracing: $50-$100/month
• Legal: $500 one-time (contract review)

This gives you real deal flow. Most investors who commit $1,500-$3,000/month to their business see their first deal within 60-90 days.

What About Earnest Money?

You’ll need earnest money when you get a property under contract — typically $500-$2,000. This is refundable if you have proper contingencies in your contract. Don’t let this stop you — many title companies will hold a minimal deposit.

The ROI Math

Average first wholesale deal: $8,000-$15,000 assignment fee. If you spent $3,000/month for three months ($9,000 total), one deal makes you profitable. Every deal after that is gravy.

The question isn’t whether you can afford to start wholesaling. It’s whether you can afford to spend another year in your W2 without trying.

Start with DealBase for $1 to get the tools, or First Deal Fast Track for the complete system.