Learning Center · Wholesaling
How to Start Wholesaling Real Estate With Little Money
By FlipProperties Editorial TeamPublished October 22, 2026Updated October 22, 2026PropStream figures checked October 2026
Wholesaling takes less cash than flipping because you don't buy and fix the house. But it isn't free: you'll spend time, some money on finding owners, and money on earnest deposits. Here's what you can do for free, what's worth paying for, and a sample first-month budget.
Check your state's law first. Some states require a real estate license, registration or written disclosures to wholesale. A license or registration can be your biggest startup cost, so check before you spend anything else.
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$0
Cost of county records, driving for dollars and networking
12¢
PropStream skip tracing per record on the Essentials plan
57¢
Starting price per PropStream postcard
Source: PropStream's pricing page and direct mail announcement (checked October 2026).
What you can do for free
County records. Many county recorder and assessor websites let you look up owners, sales and liens for free.
Driving for dollars. Drive or walk neighborhoods and note vacant or run-down homes. It costs gas and time.
Finding cash buyers. Recent cash sales in county records show who's buying. Build your buyer list before you sign your first contract.
Running your own numbers. Free comps and the 70% rule tell you what a buyer will pay, so you know what to offer.
What you'll likely pay for
| Cost | Why you need it | Ways to keep it low |
|---|---|---|
| Lead data | Building lists by hand is slow once you're past a few leads. | Start with free county records, or test a platform during a free trial. |
| Skip tracing | To get phone numbers and emails for owners. | Skip trace only your best leads, not the whole list. |
| Direct mail | To reach owners without phone rules. | Mail a small, targeted list and track responses. |
| Earnest money | Sellers expect a deposit when you sign a contract. | The amount is negotiable and set in your contract. Ask a local attorney or title company what's customary. |
| Legal help | Contracts and your state's wholesaling rules. | Use a real estate attorney or title company that works with investors. |
A sample first-month budget
| Item | Example cost |
|---|---|
| PropStream Essentials (1 month) | $99 |
| Skip tracing, 1,000 records at 12¢ | $120 |
| 300 postcards at 57¢ | $171 |
| Total | $390 |
This is an example, not a recommendation, and it doesn't include earnest money, a license or legal fees. PropStream's 7-day trial includes 50 leads, so you can test before you pay, and Essentials is $81 a month billed annually.
Prices from PropStream's pricing page and direct mail announcement, checked October 2026. Plain text, not links.
How to stretch a small budget
- 01
Pick one market and one or two lead types instead of everything at once.
- 02
Build your cash-buyer list first so you know what deals will sell.
- 03
Skip trace and mail your best leads, then expand what works.
- 04
Follow up. One letter or call is rarely enough, so plan several touches for every good lead.
- 05
Track every dollar and every lead so you know your cost per deal.
Before you call or text
Phone and text outreach comes with federal rules on Do-Not-Call, calling hours and consent. Read our cold calling and texting guides before you start.
Where to go next
Related Guide
Is Wholesaling Legal?
License, registration and disclosure rules in 16 states.
Related Guide
How to Find Cash Buyers
Build your buyer list before your first deal.
Related Guide
Driving for Dollars
Find leads for the cost of gas.
Related Guide
Skip Tracing for Real Estate
Get owner contact info, and why some of it is wrong.
Related Guide
PropStream Pricing
Every plan, add-on and a worked monthly example.
Learning Center
All Guides
Every FlipProperties guide, organized by topic.
Test before you spend.
Try PropStream free for 7 days.
The trial includes 50 leads. Pull a list in your market, find your best leads, and see if paid data is worth it for you.
Start the free 7-day trialWholesaling on a budget: questions
You can start with very little. County records, driving for dollars and networking are free. You'll still need money for earnest deposits and, as you grow, for data, skip tracing and mail.
It depends on your state and your marketing. A sample first month with a data plan, 1,000 skip traces and 300 postcards comes to about $390, before earnest money, licensing or legal fees.
In some states, yes. Several states require a license or registration in some or all cases. Check your state's rules before your first deal.
Free county records and driving for dollars. Look for vacant homes, tax delinquency and long-time owners, then reach out by mail.
It's negotiable and set in each contract. Ask a local real estate attorney or title company what's customary in your area.