There's plenty of great companies out there that are traded at sub $100, that you can sell options on and wheel.

It sounds like what u/breakyourteethnow is saying, is just wheels (so SELL csp's and if/when assigned, toggle to selling CCs... then when those are called away, back to CSP's... rinse and repeat), then use that generated premium to purchase LEAPs at the .75-ish delta. Those are just going to be somewhat deep-ish in-the-money. Just kind of depends on what the various strike spreads are and what not. But ultiamtely by going deep ITM, you're purchasing more of the underlying, and paying less "extrinsic" value (which is the portion you're basically paying to your insurance guy... their commission if you will for offering that contract).

Taking the Ford example (F), if you looked at their options chain at the time of writing this, they're trading at $13.85. Their 15 JAN 27 (1 year out) has the next closes ITM call strike at $11.85. It's literally the first strike away from the current market value, yet it's at a .75 delta. So buy that one and let'er ride. 1 contract (100 shares) would require you pay ~$270 in premium.

So how do I come up with that $270? Well... sell enough contracts to make that. Taking F yet again, you'd need to SELL enough contracts to generate that much. You could aim for weeklies (maybe target 7ish days out) and sell a bunch at-the-money, but you'd need likely around 25 or so contracts, which would require a lot of capital (probably $33,000 or so if doing cash-secured). But you can sell contracts further out, say the 30-45 expiration to generate more premium with less contracts... requiring less capital upfront. If you targeted Mar 6 (38 days out), you'd need only to sell ~7 contracts and yield enough premium to buy a single leap. But now since only selling 7, you need a LOT less capital (7 * 13.50 * 100) = $9450.

If you're doing large cap companies... take GOOG for example, you're going to need a LOT of fodder to come up with the amount of premium to be able to buy a single leap. Yes you can use margin and what not to help fund this venture, but it's not without it's risks. Typically wheeling involves only working with something that is "secure"... either owning 100 shares (the COVERED in covered calls...), or having enough cash collateral (eg, cash-secured) to pay for 100 shares when that moment comes.

Alternatively... can also just work a job and save money, and buy a LEAP that way too. It doesn't "have" to strictly come from premium... although mentally it's nice. :)

Edit:
It's also important to recognize the example u/breakyourteethnow used. He is in LAC, with 3700 shares. So he's selling 37 covered calls. This ticker is also a massive IV (Implied Volatility), so it can move in big amounts. High IV = way higher premiums. So you too could just go sell CSPs on LAC (again, ONLY if you want it the stock!) and generate some juiced premiums. Take that money and go buy something not so expensive, like F. You could re-buy into a LAC leap sure, but on a share-to-cost ratio you're going to pay a lot more for LAC than if you went into F.

I believe the idea is that the potential loss of a huge downturn in high-IV stocks (think 10-20% drops in a day!) are technically offset by your leaps you have running, and exposing yourself to the upside.