I got a contract accepted but do not have the earnest money.

If you do not have the earnest money, we do suggest you consider borrowing from a family member or friend. When you do this, you offer them a ROI that they simply cannot refuse. Here’s an example: Earnest money needed is $1000. You borrow $1000 from your Aunt and promise to pay her back an ADDITIONAL $1000 upon closing. You get the property, market it, and have secured your buyer. You are going to do a double close. You buy the house, then sell it 10 minutes later and your profit is $14,000. You pay your Aunt the $2000 you owe her and are left with a profit of $12,000. This entire process probably took you about 45 days. Your Aunt’s money was out just over a month and she was paid back 100% interest on her investment. If you play your cards right, you won't ever have to borrow earnest money from her again BUT if you do, she will be more than willing to lend to you!


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