Transactional Funding is a Glorified Simultaneous Closing!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateSep 10th, 2009 | 4 responses
Many people hear that transactional funding is the answer to our flipping challenges! However listen in as I tell you what type of funding you will need to close your transactions now and in the near future. I also cover what a newbie should focus on when getting deals, whether a seller SHOULD or SHOULD NOT sign a promissory note from a foreclosing lender, how to get paid and who to get paid by when you can’t make a big wholesale spread and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos.
4 Responses to “Transactional Funding is a Glorified Simultaneous Closing!”
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Great program today Pat. Go kick some ass tonight!
Pat & Bob:
If I have a lender that will not give a loan for more than 125% of the price I bought a Short Sale for what should I do? Bob addressed some of this on the Friday Mastery Class. You can call me at 888.215.3931 of my cell at 239.565.1223
Pat,
Great stuff as usual. You mention that “transactional funding is a glorified simo close,” as if that is a bad thing, or something to shun. My question is: why do you say this? If the title / escrow company and all other parties have no issue with this then why wouldn’t we want to do this?
I’m not sure of the benefit of a Mon to Mon close? This is less than 30 days (CW/BOA 30 day rule) and less than the 90 day FHA rule, so it is a quick flip. Whether we do the B to C in one hour or one week seems irrelevant.
If I’ve missed something here, please enlighten me.
Thanks, Matt
Where do I find private money? Its not like they are advertising all over the internet like Transactional lenders.