Hey everyone,I’ve noticed that a lot of investors, especially those starting out, often face challenges when it comes to the earnest money deposit (EMD) required for property deals.

What are the biggest challenges you face as a private money borrower?

I suppose I should have specified, but I am looking to invest in the US as the limitations and opportunities in Canada for the criteria I am looking for; Class C, Construction 1980's and newer, Price $12M-$17M, with 100 units or more is highly challenging to acquire, here in Canada.

@Melissa Wongkamalasai it has been challenging to buy small multi units in Chicago for a few years now, and only the very best deals will pencil.

OR you'd have to do 2 separate transactions and incur 2 sets of closing costs/ transactional costs. i dont think its a bad play, a lot of people leverage one to help them expand to the next. another challenge you will have, though, is pulling something small like $50k out. most lenders rn have a $100k min. you might be able to find less but then fees/ points will be a little excessive. 

Better to evict them and make it challenging for poor quality tenants to find quality housing.  

Challenges?

They’re now focused on unique properties with appealing natural amenities, like waterfronts or downtown areas, in growing locations that will consistently attract guests.

If it is your primary residence that can be more challenging.

Challenges?