Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Reese Davis

Reese Davis has started 7 posts and replied 37 times.

Originally posted by @Aaron Hunt:
Originally posted by @Reese Davis:
Originally posted by @Lee Bell:

I would write a check or go get a cashiers check if required.

You can'y buy without money.

I'm convinced many of you leave comments JUST to boost your post count. Thank You for letting me know I can't buy a house without money. I had no idea.

Thats what you just tried doing.

And you’re right. My rep count is higher than your bank balance.

Why you playin like you got Forex money when you don’t even got monopoly money?

“How you hating on the club...when you can’t even get in”

I’m still LOLZ at $6k home. Doll House being auctioned off or something. 

Must be looking like the Derek Zoolander School for Kids Who Can’t Read Good - OG ant version.

LMAO!!! The things people say hiding behind the internet SMH.

Originally posted by @Cody L.:
Originally posted by @Reese Davis:

Good Morning ladies and gentlemen. I'm trying to weigh my options on something. Maybe you can help me. I bid on an online auction property and won for $6,180. In the listing it said no earnest money deposit was required for the property. However, yesterday the portfolio manager sent me the contract asking for $3K EMD. When I mentioned that the listing stated no EMD was required, it said it was incorrect and EMD is required to proceed. What are my options if I don't have the $3K and my credit sucks?? What would you do?? Thanks in advance for all valuable responses.

*shrug* I run across so many people in this business with attitudes like yours. I’ll never understand it.  It’s like you’re going out of your way to do whatever you can to harm your reputation and be unsuccessful

I’d honestly consider deleting your account and asking mods to delete your posts. If someone came to me and wanted to do business and I looked them up and saw these posts I’d pass 

You're right...deleting my account now...Thanks for the feedback.

Originally posted by @Sylvia B.:

@Reese Davis FYI: Snarky know-it-alls generally receive much less useful information than they'd like.

lol Thanks Sylvia...I'll keep that in mind.

Originally posted by @Dennis M.:

I’m sure you won’t find this useful but In the future I think you need to take constructive criticism better on here . These guys were legit trying to help you and you were combative about the solid advise that was given . You obviously didn’t have the wherewithal to do this the right way and I hope you learned something here with what was said . Best of luck on your future endeavors 

You were right...not useful at all.

Originally posted by @Daren H.:

Be thankful that the Investing Gods were looking out for you. You don't have the money, sounds like you don't have the experience, and you are trying to buy a $6K property as if it wouldn't require more money. Again, just be thankful there was an error and you were saved from yourself.

Here we go...another non-reader. I do have the money. I just can't access it within 48 hours. Why is that so hard to comprehend?? And I didn't TRY to buy a $6K property. I bought it and closing on June 19th. And it's NOT going to require more money because I'm selling it IMMEDIATELY to a buy and hold investor. People think they know everything and know nothing SMH.

Hey Jay...yes, there usually is a deposit and that's why I was so surprised when I seen this and jumped on it after doing more research. Here's a screenshot for the non-believers. I have no reason to lie and I can read very well. This is a screenshot I took 2 days ago. I just checked the website again and I see they have updated it to $2,500 but my contract still says $3,000 so go figure.

Originally posted by @Lee Bell:

I would write a check or go get a cashiers check if required.

You can'y buy without money.

I'm convinced many of you leave comments JUST to boost your post count. Thank You for letting me know I can't buy a house without money. I had no idea.

Originally posted by @Grant Rothenburger:

Shouldn't you have the money if you're bidding at an auction? @Reese Davis How were you going to purchase the property to begin with?

 Read my comments above...I'm tired of repeating myself.

Originally posted by @Grant Rothenburger:

Shouldn't you have the money if you're bidding at an auction? @Reese Davis How were you going to purchase the property to begin with?

Read my comments above....I'm tired of repeating myself.

Originally posted by @Ramon Flores:

@Reese Davis Can you please give us more info on this? It doesn't sound right?

You won an auction, for $6,180 and don't have 3k. I would assume when buy you would have at least 30k ready to fix the property. 

If I were you I would ask to bring it down to $1000 because it was not documented anywhere in the auction that it was 3k. If you can't borrow it and if you don't have credit, pawn or use something as collateral for someone else to give you the money. 


I never said I didn't have $3K. I just don't have access to it in 24 - 48 hours since I would have to transfer it from one of my forex accounts. As I already stated, there was supposed to be no EMD so the $6,180 wouldn't have been due until closing which is on June 19 and wouldn't have been a problem. Also, I'm not planning on fixing the property, just selling as-is to a buy and hold investor. Your advice on getting them to lower it since it wasn't documented is a great idea. I will ask and see what they say. Thanks for taking time to respond.