OfflineWill someone please advise me on how to use Transactional funding. My husband and I are working on a deal where we are looking to partner with another invester on purchasing a Multi-family unit(11 aprtmnts) How does it work? FYI we have an end buyer, so we will be flipping it/!
---"If you are not criticized then you may not be doing much"----Donald H. Rumsfeld
----Kathy
__________________
"Cut not the wings of your dreams,
for they are the heartbeat and the freedom of your soul." ~ Flavia
Kathy Wholesales TX
KM WholeSale Properties LLC
469-587-9967
1888-591-1096
Hi Kathy,
I will give an example of how it should work.You get a Funding Co,an example is one that I know, anything under $90,000 they charge you $2250,
So lets say you put in an offer on a $100,000 house,its accepted for $50,000, then funding co,will front you the money for like that hour or two at closing, you use that to purchase the home.You leave that closing go to another room and close with your end buyer for lets say $60,000 , so you make $10,000 minus the $2250 that funding company gets.
I believe that covers it, any questions ,just let me know. Good luck
Curtis Fillers
(Charlotte,NC)