OfflineHello DG family. I have yet to do my first deal.
I have a Realtor that is sending me potential deals, however, I do not have deposit money for this.
My question is, where can I get the deposit money for the MLS listings. The transactional funding co I looked into do not provide this.
Any info or tips would be greatly appreciated.
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You will need to explain to an investor that you are a property finder and beg one to put deposits down for you if they want some really good deals. Without earnest money you can't make deals with agents.
Good Luck!!!!
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aliyah,
check link to coastal funding-they provide proof of funds letters
http://www.coastal-funding.com/pof.html
wishing you success,
valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Go to www.coastal-funding.com and get a proof of funds letter and then write out a personal check for $500 and sign it but don't date it or make it out to anyone. Have your agent make a copy of your check and then submit the copy and your POF with every offer. Then go network with other investors or friends and family and explain to then how good of deals you are offering on and why they should give you the $500 to put in your account to cover the check when you get an accepted offer.
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There's been plenty written about Earnest Money; you can read this thread as well...
http://www.deangraziosi.com/real-estate-forums/contracts/16959/those-you...
valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
I just wanted to thank you all for the really great information and tips.
And thanks Valerie, I read that thread you put up there and it was just great! Lots of wonderful info.
aliyah,
whenever you want to see if a topic has been discussed (which just about everything has), all you have to do is write a 'key' word in the search/enter box on the top left of the home page here, and then press enter...you'll find lots and lots of good info to read...
wishing you great success,
valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...