I’m Looking for someone that can put up the " Earnest Money" deposit ( $ 1000 ) needed to put REO property under contract.
When property is sold through wholesale your intial investment will be returned and I would be willing to split profts 50%.
I am currently searching and comparing properties in Columbus Ohio…If anyone would be interested, I would also invite you to see the property info and offer that I will make on property…Does anyone know of any avenues I can seek to accomplish this task?
You should be able to raise a small amount like that from your family or friends. Put together a prospectus to show them so they will take you serious. If you do get some outside interest you will need it anyhow. Do as professional a job on it as you can otherwise just like here you’ll get a lot of lookers but no action.
Good luck,
donrock
If you don’t have the $1,000 for an earnest money deposit on REO’s,
please do some creative deals first before putting a family members
$1,000 up at risk.
Do some wholesale deals where you don’t even need to put any earnest
money up whatsoever!
Then you will have the $1,000+++ that you can put up to make REO offers.
Not trying to discourage you, but this may be a better route; focus on marketing
and doing some creative deals so you can earn that $1,000, rather than focusing
on how to get the money to put up as earnest funds on REO’s…