Best transactional funding?

[Johnathan Boyle]

Hi everyone, I am writing this because of the wealth of information here on BP. I am a new Realtor out of Northern NJ. I plan to work heavily with investors in the area. Background: I have a few investors I'm working with and they want me to submit offers for them. Now I have for a few but I've noticed that many of them use Plan D Investments as their Proof of Funds. I looked up the company and it is very vague. However, I did find it linked to Best Transactional Funding (a website). Again, I can't find much on the site except what it says. Apparently they give transactional funding and work from a to b and then b to c aka helping in case they need to wholesale. Long story short, is this company legitimate in its practices? I see a lot of investors using them and I don't want to get in any trouble due to my lack of knowledge. Also, I was told by an REO agent when submitting an offer that this company was illegitimate, but I've had other offers pending still (none accepted yet).

[Copelon Kirklin]

@Johnathan Boyle

@Chi Kanu

@Michael Lee

@Wayne Brooks

Thought I'd add my 2 cents on this one. I worked with Duane and BTF on transactions in the past. Every single POF letter used on a deal was acceptable and I closed with them. The key to making these deals work with transactional funding is to work the transaction BACKWARDS. You MUST locate the end buyer first. Find out their criteria, make sure they have the funds, then use the POF letter to place the property under contract. Also, this type of transaction is not suited for conventional financing. Cash or hard money are the best methods to use when speaking of the end buyer and their funds. But yes, unless you have an end buyer FIRST, every other component in the transaction is a waste of time.