Financing earnest money deposit

[Marcus Maloney]

I am relatively new to wholesaling, my question to anyone is: is there a way to have any lenders fund the earnest money for an REO wholesale deal? If not is there any possible way to get the EMD without using my own funds

[Ned Carey]

Basically if your credit is good, get a personal loan. Perhaps it is more practical just to use a loan from a friend family or associate.

However I have to ask, How big an EMD are we speaking about? If you can't afford a $1-2,000 Earnest Money Deposit then perhaps step number1 is to develop some savings.

Also if you are buying directly from owners and not listed properties, then you can offer a very small EMD, say $100. Good Luck - Ned