EMDFunding.com

[Jody Powell]

Has anyone here ever used this service, and if so, any feedback?

Their basic premise is:

"Use Our Deposits, POF, and Buyers for ALL of Your Wholesale Offers and Contracts

Unlimited Deposits: We’d like to fund ALL of your earnest money deposits, on ALL of your wholesale contracts, so you never pass on making an offer (or lose a deal) because you can’t get the deposit money to escrow at all, or in time.

Verification of Deposit and Proof of Funds: Get MANY more deals accepted by submitting our VERIFIABLE proof of funds with every all cash offer you make. There’s no cost, and you can use our proof of funds right now…

Buyers: We promote all of your deals to our wholesalers, offering them a fee if they refer an investor who buys your deal. So, by working with us not only can you secure MORE contracts, but you may be able to AUTOMATICALLY sell each contract for substantially MORE than you could sell them for on your own.

Changes Update: As many of you know we recently had to make adjustments to how we operate as too many folks were submitting poor deals that never had a chance of selling. There was no “skin in the game” for these folks so they were inundating us with very marginal deals. To ease the problem we feel it is necessary to charge an up front fee for deals that we accept (though we return twice the amount of this fee to you when the property is assigned to a 3rd party). The good news is that in the process of making these changes we were able to 1) simplify our pricing, 2) eliminate all up front paperwork, and 3) greatly ease deal qualifying requirements. Thank you for your patience and we look forward to partnering with you whenever need us."

I came across them in my research and it seems like a good idea. I signed up as a "Networker" and then thought I should check here since my google fu does not return any reviews of the service.

[Account Closed]

I suggest you don't do business with anyone offering to lend money but that doesn't identify themselves on their website. Legit lenders have names and phone numbers and street addresses. They usually have disclosures about whether or not they are licensed.

I've borrowed lots of hard money, from lenders in CA and other states. That website is not how it's done.