When a new investor is first starting out in this business, funds are nearly always in short supply. That being the case, how and where can you get the cash to put down an earnest money deposit (EMD) on your deals?
Well, Jason Lucchesi back with you again to help…
I remember exactly what it felt like to want to move forward with my business but being strapped for cash. When I first started out, I was living from unemployment check to unemployment check, and extra cash was a foreign concept to me.
Now, it is possible for you to do deals without cash in the beginning... even without using your own funds for EMDs.
But, having said that, it’s important for me to say that maybe you should just be wholesaling deals at this point until you do have the cash for your earnest money deposits.
Regardless of the route you choose – I’m here to help, so today, I want to walk through some options and ideas about how you can handle the EMD situation…
Consider…
Jason Lucchesi
Jason Lucchesi is the co-founder of real estate and marketing company Global Fortune Solutions, LLC. Jason has been in the real estate industry since 2002, where he began his career as a Loan Officer. His career flourished in the mortgage business when he accepted an Account Executive position with Countrywide in 2004. Within his first six months, he had achieved the #1 Account Executive in the Midwest territory. In January of 2006. During this time, Jason began investing part-time in multi-family rental properties while also becoming involved in wholesaling. By 2006, Jason was transferred to the Indianapolis area to save a struggling branch. He quickly took the branch out of the red into the green while also beginning to purchase distressed residential properties part-time. In 2007, Jason began pursuing his ultimate dream of becoming a full-time real estate investor and began investing in REOs in 2008. Since then, Jason has been involved with many aspects of real estate including short sales, tax sales/deeds purchasing, purchasing homes in distress, wholesaling, and many other avenues. Jason has been married to his wonderful wife Jamie since 2007, and they are proud parents to their sons Brady and Gavin.