Wholesale/Down Payment Question
Hi Fellow Investors,
I am starting my investing career in Wholesaling.
I also have a some rehab properties that may be of interest to you. if you will like more info email me I am located in Essex County, New Jersey.
I am wondering for a wholesale deals:
1. Is it necessary for me to put a down payment on the deal, especially if I give my investors a heads up that I have a property on the way?
Could I have them pay the down payment after I have them sign my assignment contract between me and the investor?
Can the investor put the down payment on the property once it come out of attorney review?
Or is it best for me to put the down payment down and have them reimburse at closing?
Reimo,
I would like to see the properties you have for sale in essex county, please see my profile and email if possible.
As for the down payment of escrow to tie up the property, best bet is to pass it along to your buyer, have them pay it.
[addsig]
Reimo,
I would like to see the properties you have for sale in essex county, please see my profile and email if possible.
As for the down payment of escrow to tie up the property, best bet is to pass it along to your buyer, have them pay it.
[addsig]
Did you hear about the guy that was afraid of airplane crashes? He vowed to never fly on a plane. One night a plane crashed into his house and killed him.
There is no failsafe escape clause. If you get into a good enough deal, you wont have any serious problems finding buyers.
Welcome to TCI, Hope you visit often.
Good luck,
Jeff[ Edited by jeff12002 on Date 01/29/2005 ]