Embedded Files
Why Should I Use YOUR Money?
Why Should I Use YOUR Money?
What if we told you that you could make MORE MONEY by leveraging other people's money?
Think about it.
Let's pretend you had 100 deals lined up and ready to go, right now, with $10k profit for each, but you had to put down 1% of $100k on each one (i.e. $1k per property, $100k total)? Could you do it? What if it was 1% of $200k each ($200k total), or $300k each ($300k total)?
Would you be willing to split $1 million and make $500k if it meant that someone else TOOK THE RISK for you to get the deal done?
Reliably Open Escrow
Reliably Open Escrow
☑ Lock up your contracts
☑ Do deals of any size
☑ Get funded within 72 hours
Why Do I need EMD?
Why Do I need EMD?
Is it possible for you to do deals without earnest money? Yes, of course it is. Is it also possible for you to lose a deal because you don't put down earnest money? Absolutely!
Why is that?
Earnest money deposits (EMD) are typically considered your "skin in the game".
You are more likely to complete a transaction because you are risking the possibility of losing capital otherwise.
It gives your sellers (and their agents) confidence that you are serious.
Not providing EMD can make it look like you are a walking "red flag".
Earnest money secures your purchase agreement for cases where the seller attempts to back out.
By tying capital to your contract in title and escrow, you gain "equitable interest" in the eyes of the law.
Without equitable interest, it is unlikely that you will be able to enforce your contract if the need should arise.
Would you want your grandma or mom to sell her property to someone who wasn't serious enough to give EMD?
So, why risk your deals?
Why Should I Double Close?
Why Should I Double Close?
As time goes on, the number of reasons that a Wholesaler may want or need to close is only increasing.
You want to keep your profit confidential.
People tend to act funny when they know that your making a lot of money.
Some individuals feel like they are being taken advantage of and will attempt to cancel their agreement.
Double closing will make the transaction go as smoothly as a typical one for your seller.
Your state has unfavorable laws.
More and more states are either forcing you to get licensed or to outright ban wholesaling.
By double closing, you are able to buy and sell the property just as you normally would, but just in a short period of time (ideally, within 24 hours).
You can't assign contracts to a particular kind of end buyer.
Bank owned properties, short sales, real estate owned (REO), and some other government owned properties are unlikely to be assignable.
Some Hedge Funds do not want to buy on assignment, but you can still do a typical sale to them.
Double closing means that, as far as the end buyer is concerned, your just another seller.
Don't let your deal fall through.
Page updated
Google Sites
Report abuse