If you're trying to figure out how to build a real estate business, you've no doubt figured out that it costs money to establish a business. Incorporating a new business, developing new office space, hiring employees, finding the financing for real estate, renovating, and finding employees can all lead to a huge budget. However, you've no doubt heard of people who started real estate investing with virtually nothing. How did they do it?

Quite simply, they learned how to build a real estate business on the cheap. It's not that difficult, if you know where to scrimp and where to save:

You don't need a fancy office space to start investing. In fact, your home phone numbers, your cell phone, your regular Internet connection, and your computer may be enough to get you started. You might not even need a fax machine – you can buy inexpensive fax software that allows you to fax right from your computer. Eventually, you may be able to afford an office with a view, but for now focus on developing a professional image with the office space you have -- even if that office space is a quarter of your bedroom.

It might be nice to have an administrative assistant, but in the meantime, you can save costs by doing many things yourself. Decide how much money you can save by doing your own taxes, doing your own bookkeeping, and answering your own phone. Alternatively, you may find that you can hire an inexpensive personal assistant or bookkeeper to work for you on a temporary or a freelance basis. This will help ensure that you don’t have to pay medical insurance costs and other fees associated with a full-time employee. Once you become more successful at investing, you may be able to hire your own staff. In the meantime, keep things simple and you will be able to grow your business quickly without spending a lot of money up front.

For example, if you don't have the budget for a company car, consider a car share program which allows you to have a car for specific number of days of the week. This often is much less expensive than owning your own car, but so allows you to have transportation to and from properties. Similarly, you may find that running copies at your local copy store can post is less expensive than buying your own photocopy machine.

Certain things you simply cannot save on. You need a quality attorney with experience in real estate investing. Similarly, you need to ensure that you do the research and that you hire assessors and inspectors to look over every property you are thinking of buying. If it will cost you more in the long term, you should spend the money up front and sure that you do it right the first time.

Shop around for the best rates, and don't be afraid to compare rates or even to ask lenders for a better offer in order to get the best one. Before you start investing, it may be worth your time to improve your credit score first. This is a good way to ensure that you qualify for the best rates possible. If you have poor credit, consider working with a business partner, or set up a separate business entity to ensure that your personal credit won't affect your business credit, and vice versa.

Rather than buying new appliances, building materials, and everything else, consider buying used products. You can often save 50% to 75% off of brand-name to items by shopping secondhand. In many cases, the quality is often higher than what you can find in the retail store. You can buy an amazing array of things secondhand, including windows, bathtubs, sinks, doors, cabinets, and so forth. When buying secondhand, look for quality brand-name items, as well as newer items, and make sure that you check recalls to ensure that that new product you're buying isn't recalled for health reasons. Buy direct from contractors, wholesalers, factories, factory outlets, and even look through classifieds to find used models. Also, don't forget to look for new items that have tiny defects -- such as little scratches or dents. These often come with full warranty but at a fraction of the cost. Be sure to ask stores and factory outlets for showroom floor models, as well. These were often used to demonstrate a product, and often come with full warranty. They are often top-of-the-line and very attractive, but cannot be sold as new because they were used as a model.

If you want to learn how to build a real estate business on the cheap, start looking for ways to cut costs without cutting the ultimate quality you are able to offer your customers. You'll be amazed how much you can save.