All Forum Posts by: Brandon Slaubaugh

They are legit.

I have never done business with them, but I have acquaintances who have used them.

Quote from @Nolan Whitaker:

Hey everyone, me(19) and my partner(17) are new to wholesaling, we got a good seller finance property under contract and needed an EMD lender and ended up getting one. In our contract with the lender there is no timeframe stated for when the property needs to close by and the lender needs to be paid. However, getting the house sold has taken a little while longer than we expected due to a survey requested by the buyer and surveyors in the area being booked up and unable to get to the house. I now have the EMD lender blowing up my phone saying he needs to get paid and if I dont pay him by a certain period or pay more money due to the length its been he is going to "blast" me on his social media and stating he is the "last person I want to mess with", is this allowed? and how do I go about dealing with this.

Unfortunately this is business, some people suck. Make sure you are being nice, (a soft answer turneth away wrath) just being nice will go along ways! 
As an EMD lender myself often there are late fees baked in to the agreement which mitigates the loss of return if the deal runs long. 
Remember, there is always an option.
You can find another EMD lender and replace his money with the new lenders money for example. 

If you need someone to chat with and come up with a solution, give me a shout.  I'm always here to help. 😊

Quote from @Sandrene Smart:

Quote from @Brandon Slaubaugh:

If Duck Fund doesn't work out, I often find EMD for wholesalers.

Reach out if you need funding.

I would love to know more, such as rates, do the lend in NYS etc.

 We lend in all 50 states.

I’ll send you a connection request and we can discuss it further.

If Duck Fund doesn't work out, I often find EMD for wholesalers.

Reach out if you need funding.

It’s mainly aimed at wholesalers.

Imagine this scenario:

A wholesaler has five houses under contract but only has 25K in the bank. The EMD for each house is $10,000. He needs 50,000 just to cover the EMD for his contracts.

Now, a lot of wholesalers do not even put up EMD, which is technically a breach of contract, but that aside, let's continue.

Said wholesaler will make a 20k assignment fee on each of these contracts. He has three options. 

Option A : limit his deals, because he can only cover the EMD for two deals.

Option B : do not put up EMD, and therefore be in breach of contract. 

Option C : borrow the EMD from the many willing lenders and pull $5000 out of his $ 20000 assignment fee.

Most folks would rather make 75% of $20,000 then 100% $0.

This is not an exhaustive explanation, but hopefully, it gives you an idea of the market These lenders are in.

@Matt Merrill

It never went through, still toying with the idea of STR around TC tho.

If you are around TC we should connect!

Two heads are better than one.

Hey there!

I'm looking into purchasing an off market property along Potter RD in garfield township MI. My plan is to put well and septic in as well as small guest house (500 to 700 sq foot) and do STR to pay for it. My question is what can i expect from STR in that area? I currently run a STR in Charlevoix MI but when i purchased it the current owner was running STR and had a track record, also i have connections to the STR community in Charlevoix so i knew what i could expect to make. From what i could find thus far i could expect 130ish per night? Any advice is welcome! Thanks in advance!