EMD for wholesale deal

[Daniel Salmeron]

Hey everyone! Im new to wholesaleing and have been cold calling leads for the past couple of days and came across a seller willing to let the property go for under market value but is requiring a 15% down or EMD at signing. I would appreciate any advice as to how to go around that or how to come up with that EMD. I am willing to connect and bring in a partner that would take over and just let me tag along the ride for experience with no assignment fee. Thanks in advance!

[Ryan Whitcher]

1% EMD is standard, and plenty, for an off-market deal. 15% is RIDICULOUS. Either that seller isn't motivated, or they just simply don't understand how buying real estate works. If you can't negotiate him down, run (but don't forget to follow up in a few months after he's been told this same 1% truth from dozens of other buyers :) )