OfflineI'm a ambitious college student who needs to make offers, only problem is I don't have the earnest money. If you want to know my story you can read my journal "Back Against the Wall." If your able to loan me the money and want to help out a fellow DG'er send me a PM...
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No Grind No Shine
what do you need the earnest money for? REO's Or assignments?
So you have already have deals in place???....deals???
Can you immediately give someone the specs on them???
How much are you looking for???
Do you have end buyers???
What should the lender expect in return???
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These five questions should be answered in a tone that is self-assured and that shows you are in control of the situation. Give him the answers to the questions he/she had yet to ask.
I have been told I come across as hard sometimes but what I don't want is for people like yourself who just came into the game losing out on opportunities on the first go around. There is a saying; you get one chance to make a first impression.
No one is going to lend you money if you have nothing to show, so find some things that people will want. Its out there, but asking now when you have nothing is not a good way to start out.
Hope it helps
Go visit Randy428's journal and glean from it.
He had his back against the wall, not anymore,
Glad to be of help.
George41
George
In your Purchase agreement state that the earnest money will given upon an approval of the property after your 14 business day inspection period has ended.
It can be hard to pull off but its easier than you think when you get it done.
Jake Greer
Quad City Real Estate Investors Association
http://www.qcreia.weebly.com
Here is the proof of getting a loan to buy a deal with a 585 Credit Score.
http://www.deansmedia.com/play.php?vid=165
Look me up on Facebook, put in a message when Friend Requesting or be denied. http://www.facebook.com/people/James-Greer/100000908311950
I agree with Elix. If you have nothing to show for someones investment, how do you expect an investor to plunk down 10k. I realize that you are working hard to make it in this crazy business, but you have to have answers before someone asks the questions. You need something more in the game than just a request for cash. don't mean to be hard, but that is the way it is in the trenches....Jan
I don't think I had the amount of money correct. I must have been looking at 2 posts at the same time. My mistake, but I still stand on my answer. show why you need $$ and what is in it for the investor.
AGAIN, MY APOLOGY....Jan