usage of other peoples money and not yours

[Richard Sanford]

i have been hear different strategies on how to use others peoples money in real estate, how can this be applied doing wholesale with reo/foreclosures?

[Stinson Bland]

True, you don't need money to wholesale but if you don't have you're own money; why should you be involved in such large transactions? If you make an offer to a seller, you should be able to back that offer at the closing table or be honest about your ability and your intentions with your seller.

You're dealing with most peoples largest asset, their house and livelihood... Treat the situation accordingly and be a real estate professional. If you cant afford $1K of earnest money, you should not be in the real estate game. This is a REAL business and it takes real capital like most other businesses.

I don't mean to sound harsh but it upsets me when people think it's ok to gamble with other peoples home/shelter. To the OP, I am not insinuating that's your intention.

I think it is smart to use outside money but not if you're simply broke.