Transactional Funds

Hi,I got allot of that to.Do you go to investment club meetings.If so you need to ask people who they use,if not.Look up title company's and call them all if you have to and ask if they do double closes.There are like 20 or more title company's in my town but only 2 do double closes.I think thats why most don't do them.They think they are illegal or something fishy is going on.Find a attorney that knows what you are trying to do also this will be a big help to know you are legal and they can refer you title company's too.hope this helps and best of luck on all the deals you will do!!!

Hey Pio Romano,

The attorneys that have told you that they are illegal just don't know what they are talking about... They are not educated enough about Back to Back closings or what many people call Simultaneous Closings. If you talk to a Real Estate attorney that says its illegal don't waist your time with them and use an attorney that is experienced with working with Real Estate Investors and Short Sales.

See in the past real estate investors used to flip properties by doing back to back closings by using the proceeds of the second B-C closing to fund the first A-B transaction. Then the Real Estate investor kept what was left over from the B-C transaction after the A-B was paid off. These where called, "Double Closings" This method is now illegal and has been for a while now! This is so because the funds for the first A-B closing was not really there to begin with... That method is what the attorney you spoke with was talking about.

Back to Back closings are legal if you have your own funds to proceed with the first A-B closing. Whether its with cash in hand or with a loan you have to be able to fund the A-B closing on your own. You can not co-mingle and use the funds from the second B-C transaction to purchase the property you are selling to the end buyer as you do in a Double Closing.

I provide Real Estate Investors such as your self with Private Funds to close all of their back to back closings. We require no money down with no credit checks and we can lend up to $25,000,000 per transaction on any residential or commercial deal. Just go to http://www.transactionalfunds.com

I was looking at these types of "loans" and found transactionalloans.com, to be kind of interesting... I'm trying to find a buyer for a property i'm looking at as well, and if I do find one, I will definately look at them a little more....

We have found that many attorneys do not understand double closings or simultaneous closing.

First off do not use these terms with the professionals.

Here is how we are finding them.

1) We call a Real Estate Attorney.
2) We ask the attorney if they will handle real estate closings for you. (of course they will)
3) We say "great, occasionally we have a buyers with cash before we close on the homes. Can they handle your closing then close the cash buyer the same day?"
- When they say "yes" they will do a double closing but may not call it this.

Nathan's information is good. We have seen a better result by not presenting the words "double closing" or "simultaneous closings."

Once you have asked the lawyer if they can close your transaction then same day close the cash buyers you can add another question that may help you:

"Can you use the money from the second closing to pay for the first?"

This will create an opportunity to do a dry closing. Some will and some won't do this but it is worth asking.

This is some great info on the process, here are some companies you can use.

www.insiderscash.com & www.coastal-funding.com.
Insider's cash requires a company or business entity and charges about $2500.
You can use your personal name with Coastal, they charge about $3000. Go to each website and read through the FAQ's so you know how they do business.

You can use the transactional funding that Jeff suggests but you will need as you ask to find the attorney to do the closing. Keep in mind the words that myself and nstreet offered and it should help.

Also, keep in mind that this business is a numbers game. The more that you put out there the better chance you have to find what you are looking for.

A couple of considerations. There are companies called Old School Title that are I understand in all 50 states that can do these types of transaction. You may see if you can find them.