Earnest Deposit Help

[Ty Schuman]

Hey Guys,

I have ran into a bit of a situation, I am under contract for purchasing to REO Foreclosures from Fannie Mae. One home I purchased for $230,400 + Closing cost and redfin values the home at $400k and the other home is valued at $317k and I purchased it for $190k + closing. I had a previous home that I sold suppose to close on Monday but the buyer has covid so we had to push the closing till he is medically cleared (his words). I know the guy and I know he is really sick and not backing out but it has put me in a capital crunch where I am now lacking the loose capital for the earnest deposit. The closing is by 2/17/23 and I have proof of funds for both houses so I am only looking for funding for 3 weeks max. Does someone have any suggestions on a way to finance the $20k earnest money between the two homes for a max of 3 weeks? I would be willing to pay a high ROI if someone could point me in a direction that would help me out. I can't let these 2 deals fall through as I am trying to help a family member keep their home by paying off their mortgage to avoid foreclosure and these 2 transactions will get me to where I need to be to help them. I appreciate any help provided...

[Tom Gimer]

Quote from @Eliott Elias:

Why are you paying 20k in earnest money? You can find private money to do this if your return is good enough. 

He's already admitted the "POF" is invalid. HE DOESN"T HAVE THE MONEY.

Do you even read the fact patterns? Post less, read more.