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House Flipping 101: Beginner (Step by Step Guide)

Wealthy Way

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How Much Should Your Earnest Money Deposit Be?

You've got to decide within 10 days whether you're going to actually buy that deal or not. So due diligence is your time to back out of the deal. You know, it's called your earnest money deposit, or they're known otherwise as EMD. This is basically your good faith to say, Hey, I'm going to buy this property and put this money in escrow.

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