Buying my first wholesale deal in California

[Jim Keller]

Hi BP people,

Was offered a nice home in an upscale subherb north of down town Los Angeles Ca. Being my first wholesale buy I find it rough, the terms being dictated by the wholesaler are a $25,000 nonrefundable earnest money deposit.  I do understand this put up or shut up way of doing business is not a bad thing just hard to feel comfortable.

I'm a big believer in this discomfort is just fear and grouth.  The numbers look fantastic on the flip and when all goes as planned we will see a high 5 figure profit.  Just feeling a little vulnerable and kicked around, I have been less than impressed with any wholesaler to date.  This will be a bellwether moment for our little company.  

We get our first and only look tommarrow at 10 am and my whole team will be there.  If we like I sign and hand over my check with a 10 day escrow.  Only in America...... I love saying that, $49,000 invested, $610,000 barrowed, $95,000 potential profit.

I will upload a few pictures as well as the look on my face as I arrange the EMD wire if we buy. Good luck to all of you in this short work week.

Jim