What transactional funding company is good to use?

I'm just curious for anyone that has used transactional funding to close deals. I now of Coastal-Funding.com and Fundthiswholesaler.net. Are either of these companies reliable businesses to rely on funding without any problems?

Coretta Richmond

Wholesaler · Little Rock, Maumelle, Conway, Arkansas

6 posts
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Jan 10, 08:10 PM

Hey Antonio! I've used Jason Medley's iVisionary Financial Solutions http://www.ivfinancialsolutions.com - no problems with them - fast & efficient.

I've also heard good things about @Shari Peterson of www.onedayfunding.com who I actually found here on BP. As not to have all my "eggs in one basket", I'll be shooting some deals to her later this month.

Good rates, good funder = Good check my friend!

Antonio Bodley

· Alabama

175 posts
2 awards
57 influence

Jan 11, 02:28 PM

Hi Coretta,

I discovered Medley's Ivisionary over at [REMOVED]. I see other's have given good reviews about this company. Onedayfunding is down right now. They are building a new website. I never heard of onedayfunding until now. I was hoping to take a look for myself and see how good they are. Why do people turn to transactional funding as opposed to getting homes under contract from private sellers?

Originally posted by Coretta Richmond

Hey Antonio! I've used Jason Medley's iVisionary Financial Solutions http://www.ivfinancialsolutions.com - no problems with them - fast & efficient.

I've also heard good things about Shari Peterson of www.onedayfunding.com who I actually found here on BP. As not to have all my "eggs in one basket", I'll be shooting some deals to her later this month.

Good rates, good funder = Good check my friend!

Edited: 01/11/2012 at 02:36PM by Moderator

Eric Michaels

Real Estate Lender · Chicago, Illinois

Pro Basic

707 posts
6 awards
66 influence

Jan 11, 02:57 PM

Originally posted by Coretta Richmond

Hey Antonio! I've used Jason Medley's iVisionary Financial Solutions http://www.ivfinancialsolutions.com - no problems with them - fast & efficient.

Good rates, good funder = Good check my friend!

You sure Ivisionary rates are good? Website says 2% and up.
If you are talking 1 day deals, that is very expensive.

Coretta Richmond

Wholesaler · Little Rock, Maumelle, Conway, Arkansas

6 posts
1 award
50 influence

Jan 11, 07:32 PM

Hey @Eric Michaels, if you notice, I didn't exactly call one company or the other's rates good ;) Honestly, some of my RE dealings are transacted merely out of relationships. And don't quote me on this, but iV may offer discounts to coaching students and members of their associate organizations. I know that's pretty vague, but that's merely a speculation. All I can say is that I'm a Deal Maker/Gold Member of SREC and the bottom line ends up reasonable.

What are your suggestions Eric for transactional funding? More money in my pocket is always an incentive.

@Antonio Bodley, the transactional funding comes into play when your seller won't allow you to assign the contract as in the case of many REO's. It allows you to actually purchase the property, using their funding, and then immediately sell it to your end buyer.

This shouldn't be the case when acquiring a property from a private seller. IMO "and/or assigns" should follow your name or company name when initially identifying the Buyer in the contract.

Coretta Richmond

Wholesaler · Little Rock, Maumelle, Conway, Arkansas

6 posts
1 award
50 influence

Jan 11, 07:35 PM

LOL! Eric, I just read your tag after I posted the reply! Northside Funding huh? 1.5 points hmmmmmmm

((definitely making myself a note of that))

Thanks Eric!

Antonio Bodley

· Alabama

175 posts
2 awards
57 influence

Jan 11, 07:54 PM

So REOs, bank owned,and foreclosures would work with transactional funding?

Originally posted by Coretta Richmond

Hey Eric Michaels, if you notice, I didn't exactly call one company or the other's rates good ;) Honestly, some of my RE dealings are transacted merely out of relationships. And don't quote me on this, but iV may offer discounts to coaching students and members of their associate organizations. I know that's pretty vague, but that's merely a speculation. All I can say is that I'm a Deal Maker/Gold Member of SREC and the bottom line ends up reasonable.

What are your suggestions Eric for transactional funding? More money in my pocket is always an incentive.

Antonio Bodley, the transactional funding comes into play when your seller won't allow you to assign the contract as in the case of many REO's. It allows you to actually purchase the property, using their funding, and then immediately sell it to your end buyer.

This shouldn't be the case when acquiring a property from a private seller. IMO "and/or assigns" should follow your name or company name when initially identifying the Buyer in the contract.

Michael Allan

Real Estate Investor · Tampa, Florida

61 posts
2 awards
50 influence

Apr 19, 01:35 PM

If you are looking for transactional funding for same day transactions there are still a few options out there, however these type of deals are becoming rare as they are difficult to line up. There are also a few TF lenders who offer longer holding periods with similar pricing as the same day deals for 3-5 days holding periods to allow you to line these type of deals up easier. In addition to that there are a few lenders who offer up to 30-45 days, which allows you to sell to financed buyers, however due to the increased risk of an extended holding term the pricing will typically be greater.