Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago,

User Stats

138
Posts
47
Votes
Jeyo Punnakottil
Pro Member
  • Rental Property Investor
  • Houston, TX
47
Votes |
138
Posts

Busines with wholesaler-demands ernest money 5k in his LLC name

Jeyo Punnakottil
Pro Member
  • Rental Property Investor
  • Houston, TX
Posted

Will you do business with a wholesaler who wants 5k Ernest money check in her LLC name to lock up the deal.Never done business before with this wholesaler but the deal she brought is a sold flip with 30-35k profit

Some red flags from her side

1.Hard to get hold off using the business number she mentions in her email blast but finally gave her cell # once i got hold of her and  said i want to lock in the deal by doing deposit.

2.Claims there is an open house showing next tuesday but if i want she can cancel the showing if i accept the full wholesale price of 165k and do the 5k earnest money deposit check in her LLC name

3. She says she will not get keys to ppty till tuesday so i cannot see the ppty till tuesday. I have to run numbers based on photos that she send.

4.I asked her to send me the contract for my attorney to review, she sends me the assignment contract between her LLC and ME (1PAGE DOC)but doesnot send me the original contract between her LLC and the SELLER.

  • Jeyo Punnakottil
  • Loading replies...