Wholesaling without Earnest Money?

[Chelsea Malone]

So I have a deal I am getting a contract on a deal that I think has great potential for profit. The only issue is they would like a pretty high earnest money deposit that I do not have. How can I still get this property under contract if I do not have the amount to put in escrow? Is there any way around this? Any advice would be helpful!

[Christopher Goldie]

@Chelsea Malone Don't believe a transactional lender or any lender for that matter will help with earnest money. Unfortunately looks like you have a couple limited options.

1) Go stark raving lunatic and tell them you won't give that much only $x

2) Involve friends or family. Offer a piece of the pie, but mame triple sure you have a contingency to get it back if you can't move and that your family knows full well the risk.

3) Pass it over to another wholesaler for a refferal fee or a small percentage.