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Updated almost 7 years ago,

User Stats

15
Posts
9
Votes
Steve French
  • Newcastle, WA
9
Votes |
15
Posts

OOS Investing: Earnest Money . . . How do you get it there?

Steve French
  • Newcastle, WA
Posted

So now that we're past the learning stage and have jumped into the action, it became very clear that getting earnest money checks out there quickly, when completely originated from the other side of the country, is either slow or expensive (fedex overnight for each offer).

There are options we've considered, but I'm wondering what the good folks of the Bigger Pockets community that do OOS deals prefer?

We can send a stack of blank checks to our RE agent, whom we do trust (and have relationships with him and his family outside this venture), but still, feels kinda wrong to send a stack of blank checks.  

We've got some family back in GA, but for various reasons spanning trust and convenience, none of those seem viable.

Wiring money?

Paypal?

Apple Pay?

I dunno, this is something we could have anticipated, I suppose, but we didn't and it doesn't seem a one off check or checks, multiple times a week, via fedex, is a pretty high capital expense.

Any ideas?

Thanks!

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