All Forum Posts by: Gregory Jerome

@Syed H. So the house I’m looking into is 70k, u would want 10 percent as the EM deposit ?

I thought it was 1 percent

@John Thedford 10k? Earnest money? 😯

Are we talking about a million dollar house here ?

@Raven Henderson yea, I have a landlord that wants me to bring him a property under contract

The earnest money is where I’m having the problem

I guess I could just keep working and saving my checks until I have 2-4K to spend

From the replies it seems like earnest money is pretty much a down payment on the house

The cost of the house I’m looking at is 70k

So I was hoping to invest $100-$700 in earnest money and quickly try to sell the contract to my end buyer

But some of these replies say 2k-5k

I wasn’t expecting that just for earnest money.

@Jon Schoeller Great info man thanks!

@Raven Henderson that’s what my seller wanted, I thought it was alittle too high but I guess not

If the deal for some reason doesn’t fall thru will I be entitled to get my earnest money back?

Is it ok to offer $100 as earnest money just to lock down a contract or would that be take as disrespect ?

@Jon Schoeller so there is no need for me to bring in my own inspector before handing over the deal ?

What does an investor want to see paper work wise when being presented with an offer from a wholesaler?

2. Should I do an inspection before presenting the contract to my buyer?

@Anthony Thompson thanks Anthony, this post is old but appreciate the response.

I have a deal in rhode island atm if you eant to take a look

What is more important to buyers,

the purchase price or the condition of the property?