Emd work arounds

[Scott Hamilton]

Im a full time investor and want to add in reos. What is an effective way to work around the emd? Right now i dont have the money to cover the emds so what can be done besides borrow it?

[Jon Holdman]

Sorry to be cynical, but that sounds like some hypey guru "free report" written to promote their courses. I'm sure someone has done it. I'm sure it was much easier five years ago when banks didn't really try to interfere with wholesalers and would even accept assignments. And when title companies would do double closes using just the end buyer's money. Lots of roadblocks in the way to being successful at wholesaling REOs. You seem to have had some success with finding private deals. Those have a lot fewer roadblocks.

It may be your use of the term "investor" that created some of the push back in the replies. Wholesaling isn't investing. Its buying and selling. Its a commissioned sales job. Nothing wrong with that. But when you start a conversation with "I'm a full time investor" it creates a different set of expectations than "I'm a wholesaler". Trying to find a way to avoid tying up a bunch of cash in earnest money when you're wholesaling makes a lot more sense than when you're investing (i.e., buying and holding income producing properties.)