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Updated 3 days ago on . Most recent reply

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Jason Nderitu
  • Wholesaler
5
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When Lenders become a headache

Jason Nderitu
  • Wholesaler
Posted

Well I am doing virtual wholesaling for properties in Detroit, Michigan and I have managed to get access to a decent deal but now the owner of the house is looking for an initial deposit to confirm that I will certainly not waste his time as I look for a cash buyer. I reached out to lenders for help, all of them have complex processes that are not possible for me on this side. If there is any lender who just trusts that the money will be returned, reach out. If you are an investor loving risks, reach out we discuss the next steps. 

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James Wise#4 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
19,701
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28,661
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James Wise#4 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Replied
Quote from @Jason Nderitu:

Well I am doing virtual wholesaling for properties in Detroit, Michigan and I have managed to get access to a decent deal but now the owner of the house is looking for an initial deposit to confirm that I will certainly not waste his time as I look for a cash buyer. I reached out to lenders for help, all of them have complex processes that are not possible for me on this side. If there is any lender who just trusts that the money will be returned, reach out. If you are an investor loving risks, reach out we discuss the next steps. 

 If you need a lender for an earnest money deposit it's clear that you will be doing nothing but wasting the seller's time.

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