All Forum Posts by: Reese Davis

Originally posted by @Taylor Chiu:

@Reese Davis - Do you have access to any credit at all? It's not ideal, but you could do a cash advance for the 3k if the deal is really worth it. 

Or is there someone that could loan you the 3k for a fixed fee or a part of the deal? Or possibly a payday loan?

If I could borrow it, I would...but Thanks for your response.

Originally posted by @Kyle Lewis:

@Reese Davis - To add on to Taylor's advice, maybe spend an hour on the phone with a RE lawyer  familiar with auctions to assess options? Hope this helps. Good luck with the deal!

Nope...doesn't help but Thanks for taking the time to respond.

Originally posted by @Aaron Hunt:

Bruh. If I got a property for $6,180...I’d turn around and give it right back. Suspect city.

*grabs popcorn*


Bruh. It's an auction. They have lots of properties for $10K or less...as well as lots of properties over $10K...just depends on the condition and location of property.

Originally posted by @Federico Gutierrez:

Why you bidding on an auction if you don't have the money?

Obviously with auction you pay cash. So you bid 6180 and won. I'm assuming you got the cash for that else why you bidding. So use that money as EMD will be subtracted from those proceeds.


Why you responding to posts without reading the whole thing?? I clearly said the auction listing stated there was no EMD so I was expecting to bring the money to closing. I didn't anticipate having to wire it within 24-48 hours. But Thanks for your non-valuable comment.

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.

Thanks guys...so basically it sounds like she's better off keeping it. 

So my fiance's dad passed away a few months ago and left the house to her and her brother. They want to sell it but there's 2 mortgages on the house. I believe there's $60K owed total, would have to double check that. It's located in North Raleigh off Six Forks and Sawmill. Similar houses are selling in the area between $170k and $180k. Rents are around $1,300/month. What are their options?? Thanks.

Is wholesaling still a viable business model in today's market?? It seems to be over-saturated with everybody going after the same deals. 

I found a property on Craigslist this morning, contacted the seller, made him an offer and he accepted. The property is located about 3 - 4 hours from me so unless it's absolutely necessary, I would like to get it under contract without physically seeing it. The pictures look good and after doing some research, it seems like a pretty good deal. I guess my question is what should I do next?? My thoughts were to get the contract signed and then post the property on here in the Investor Marketplace. Is that the right move? This is my first potential deal and I really don't wanna mess it up. All help is greatly appreciated. Oh, one more question...how does the closing work when the buyer and seller are not located in the same area? Would I go to him? Does he come to me? Or can everything be done through email and fax?

Originally posted by @Adrienne Ryan:

Hi All,

I am in the Raleigh, NC area and have been trying to find a closing Attorney to close my wholesale deals. I have contacted quite a few with no luck. Anyone in this area know of any Closing Attorney that is Investor friendly and deals with Wholesalers?

Thanks for the help

I haven't tried any of them yet but here's a list that was provided to me by a local real estate agent. Good Luck...let me know how it goes.

Sam Weathers

Travis Barkley

Robert Hedrick

John South

Darin Messe

Kathie Russell

Justin Taylor with Roper and Taylor

Brian Elam

Norm Praet