Need EMD before wholesaler will share address??
Is it normal for a wholesaler to ask for an EMD before sharing a property address?
All the information I got from the wholesaler about the properties was: 3/1, 756 sqft, fully renovated, full finished basement, management in place, tenanted with rent at $750/mo; Asking $51k.
He would not share the address. After much back and forth, I finally got a zip code. For Detroit, a zip code is just not enough information for me. Every block is different. Am I missing something? How is it possible to analyze a deal without the address? How can you justify potentially losing your EMD for something completely unknown?
Any thoughts if this practice is normal?