EMD & Real Estate Investing

[Javon Howell]

Hello, I'm newly first timer real estate investor. I took a course that went over in depth how to flip houses using OPM (Other People's Money) the course although in dept and very informative didn't really discuss that even if you can flip homes using OPM, you still might need to come up with an EMD out of pocket. My question for anybody is can you somehow work EMD into like say a Hard / Private Money Lender? Or even work it into my GAP fund ? I have no money at all and but after my first flip the problems that I'm facing now will definitely no longer be a problem. However, for this first flip I just need to figure out how to obtain an EMD even if there is a separate lender or something. Thanks for any and all advice I'm advance.

[Javon Howell]

@Tom S. Tom, THANK YOU for not just taking the time to speak with me but also giving some insight into how to move forward, much appreciated. I've received a couple of inbox messages advising me of the same thing you mentioned which is to start making EMD around the $1,000 - $2,500 mark. I've even seen a couple of messages suggesting trying $100 EMD although I am afraid that one that low might scare potential buyers but would like your opinion on that. Yes, the terms I mentioned above are my terms and they certainly provide a great blanket seeing as how I do not have the funds to cover any over-budget expenses. I just wanted to mention as well if you know of any Gap funders who would be willing to lend for a 2nd lien and an equity share of the profits seeing as how I still have to other deals I need funding for that would be great! if not thanks again Tom for insight.