All Forum Posts by: Stanley Luo

I'm planning on purchasing a property from a wholesaler.  They're asking for a $2500 Earning Money Deposit (Non-refundable), If I was interesting in purchasing the Purchase & Sale Agreement from them.  

These are the questions I currently have:

Where will the EMD be transferred to?

Will I receive my $2500 EMD back if the title wasn't clear and there's lien on the property?

When will I actually find out when the title is clear or not clear?

What is the actual process of when I decided I am interested in the contract and the wholesaler agrees to assign it to me?  

Does the contract cancel out if the title isn't clear?

Should I do my own title search first before agreeing to purchase the contract?

I'm just new to going through a wholesaler and have a boatload of questions.

I was interested in the BRRRR method while out of state. I was wondering when the contractors do the rehab who draws out the design or blueprint of how the house is going to look like? Being out of state it's difficult to see the exact amount of space and if they were to install a new bathroom or bedroom who usually comes up with the blueprint?

I'm planning on doing out-of-state real estate investing and I'm currently reading David Greene's book.  

I'm curious about finding lenders in multiple states I'm interested in investing in.  Should I be finding lenders in multiple states at the same time and also if I remember correctly, there's a certain time window I can have my credit pulled multiple times without it affecting my credit score?