Hello Steven,

The deposit is usually about 1% of the purchase price. The higher the deposit the better chances are of getting the offer accepted. I'm looking at homes around $180-$200K, because I've done some research and that is the price range of homes that have been selling for cash and in a matter of days. So, I would need at least about $2,000 to have a shot at my offers being accepted. Most bank contracts always have an inspection period of at least 10 days, so we have 10 days to find a cash end buyer before we can get our deposit back. I've been working on creating a buyers list to have cash buyers ready when we have an offer accepted. My problem has been that the bank usually want the deposit 24-48hrs upon acceptance of the offer. It's not enough time for me to market the property for cash buyers and have them do all their due dilligence. It usually takes them 24-48hrs just to decide if they want the property or not. I'm sure 10 days is plenty of time to find a cash buyer in this kind of market, as long as we buy the right properties that cash buyers want. I've done my research and I know what kind of properties investors are looking for.

Please let me know if you're interested. I'm willing to split the profits 50/50.

Much success,

Ivan