Earnest Money Down for Wholesaling

[Wyndsor Belcher]

Hey everyone,

What is your opinion on EMD? It is holding me back from proceeding because of lack of money to lock in contracts. I do try to get those 1-2% down, but what advice do you have for either avoiding EMD, or having end buyers, laying that EMD. Thanks in advance. Trying to scale.

[Chris Seveney]

Quote from @Wyndsor Belcher:

Hey everyone,

What is your opinion on EMD? It is holding me back from proceeding because of lack of money to lock in contracts. I do try to get those 1-2% down, but what advice do you have for either avoiding EMD, or having end buyers, laying that EMD. Thanks in advance. Trying to scale.

My recommendation is to find work that will allow you to save up for EMD. EMD should only be a few thousand dollars. This will also give you education on saving money and managing a business as like anything in life, there will be income and expenses and you need to always maintain that balance.