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Updated over 15 years ago on . Most recent reply

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Rich Weese#2 Off Topic Contributor
  • Real Estate Investor
  • the villages, FL
3,499
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5,700
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NEVER let it get HARD!! Read post for more

Rich Weese#2 Off Topic Contributor
  • Real Estate Investor
  • the villages, FL
Posted

I'm talking EMDs here, guys. Today at 11 a.m., I'll close my second multi million dollar deal in less than 2 weeks involving properties in 2 states. I had a 50K deposit on one and a 25K deposit on the other. In NEITHER case was the deposit ever at risk. If I can do this on larger projects, why aren't you structuring your deals this way?
As a previous poster said, you need to gain CONTROL of the seller. Anyone interested in more info on this? Maybe I should do a blog--or post. I don't think it is allowed to do both. How many think blog is best? How many think post is best? Thanks. Rich in FL.

Most Popular Reply

User Stats

5,700
Posts
3,499
Votes
Rich Weese#2 Off Topic Contributor
  • Real Estate Investor
  • the villages, FL
3,499
Votes |
5,700
Posts
Rich Weese#2 Off Topic Contributor
  • Real Estate Investor
  • the villages, FL
Replied

Tod- That is funny right there as Larry the Cable guy would say.

On the 154 units, it went under contract on June 3. Financing and due diligence was 21 days. I extended it to July 20, then to Aug 5 and finally to Aug. 13.
EVERYWHERE is a buyers market and no seller wants to start all over.

On the 550 unit self storage facility. Went under contract on June 22. Due diligence was Aug 4. No financing, all cash.Extended to 8-9, 8-17 and then till yesterday. Closed this morning. EMDs were never at risk or released. Just stay in Control and ask for what you need. Rich

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