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Forums » Short Sales » The average or lowest Transactional Funding For Short Sale and REO

The average or lowest Transactional Funding For Short Sale and REO Subscribe to The average or lowest Transactional Funding For Short Sale and REO

8 posts by 7 users

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Gary St. Armand

Real Estate Investor


Forum_avatar_avatar-starmand

Icon_minipost Mar 12 '09, 07:35 PM

Does anybody know what the lowest %( i.e best rate) that is being charged to use to fund a shortsale or REO, let's assume the total purchase ( including all other costs) prices is $333,176.

I'm talking about transactional or flash funding.

Edited: 06/26/2010 at 07:34AM


Ryan Moore

· Bellingham, Washington


Forum_avatar_avatar-flashfunder

Icon_minipost Mar 17 '09, 05:13 PM

Answer to your question:

2 Points!!

Edited: 06/26/2010 at 07:37AM by Ryan Moore


Gary St. Armand

Real Estate Investor


Forum_avatar_avatar-starmand

Icon_minipost Mar 18 '09, 04:48 AM

Uh huh...Why the sliding scale? So you can charge $17,668.80 or 5.30% of purchase price to use your funds for less than 24 hours. Or 1908.05% per year, is that right? Does this not violate laws against usury or are there no longer any such laws?

Hmm...

Edited: 06/26/2010 at 07:37AM


Steve L.

SFR Investor · Rancho Cucamonga, California


Forum_avatar_avatar-cucaloco

Icon_minipost Mar 19 '09, 05:29 PM

Gary - private investors are typically cheaper for flash funding.

A transaction that size you're looking at a minimum of 2 points and some processing fees.

Discuss your options with escrow officer, in some states they let you use the closing parties funds to fund both escrows. How is your buyer going to get financing?

Edited: 06/26/2010 at 07:38AM


Joshua Dorkin

BiggerPockets Founder · Denver, Colorado


Forum_avatar_avatar-biggerpo
DonorPro

Icon_minipost Nov 20 '09, 11:58 AM

Folks, the post is about the lowest % charged for funding short sales. Please stay on topic and leave the referrals to those threads requesting them in the SEEKING FINANCING forums.

OR

We can just split this post and put the 2'nd half of the thread in the appropriate forum.

Thank you.

Small_bplogo20aJoshua Dorkin, BiggerPockets, Inc.
E-Mail: webmaster@biggerpockets.com
Telephone: 877-831-4704
Website: http://www.biggerpockets.com
Be sure to check out the BiggerPockets Blog at http://www.BiggerPockets.com/renewsblog/


Will Barnard

Rehabber · Santa Clarita, California


Forum_avatar_avatar-barnardinc
DonorPro

Icon_minipost Nov 20 '09, 12:16 PM

Several of the posts above have links to websites inside the body of the post. It is my understanding that is not permitted, correct?

Small_barnardenterprisesWill Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com


Ted Akers

Private Money Lender · Denver, Colorado


Forum_avatar_avatar-tedakers

Icon_minipost Nov 22 '09, 04:04 AM

2.00- 2.50 pts is standard, but it is possible to get transactional funding for less than 2.0 pts.

Edited: 06/26/2010 at 10:36AM


Eric Michaels

Real Estate Lender · Chicago, Illinois


Forum_avatar_avatar-eric3

Icon_minipost Nov 22 '09, 04:28 AM

My answer to your question: 1.5%.

Edited: 06/26/2010 at 10:36AM by Moderator : no solicitations in this forum


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