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.

[Lindsey Oliver]

Hi @Wyndsor Belcher! Definitely don't want funds holding you back. I can help - I'll DM you.

[Kalista Dynasty]

Quote from @Lindsey Oliver:

Hi @Wyndsor Belcher! Definitely don't want funds holding you back. I can help - I'll DM you.

I too am looking for an EMD. Are you able ro help me out by any chance?

[Lindsey Oliver]

Quote from @Kalista Dynasty:

Quote from @Lindsey Oliver:

Hi @Wyndsor Belcher! Definitely don't want funds holding you back. I can help - I'll DM you.

I too am looking for an EMD. Are you able ro help me out by any chance?

Hi @Kalista Dynasty! I just messaged you! I can fund same day 😊

[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.

[Jason Grote]

What is the expectation of sellers in WY?  In Texas, the standard earnest money when agents are involved is 1%.  However, rarely do wholesalers put a 1% earnest money on their contracts. We typically put $100 or none depending on the transaction.  We also do deals in Arkansas, where the standard is NO EM.  Obviously, we don't use any EM in Arkansas.  What are other wholesalers doing for EM in Wyoming?  I would follow their trend and maybe that will help you save some money.