Transactional funding (Wholesaling)

[Killy W.]

Hi all! 

Im looking for more insight on transactional funding, if anyone has advice or experience using that I’d love to hear!

[Jesse LeBlanc]

@Killy W. doing an assignment is always best, will save you money vs double closing.  However, there are situations and reasons for double closing and everyone has different thoughts or reasons, so i'm not here to tell you one way or another what is best for you since you know your buyer, seller and you better than anyone else.

If you do choose to double close and ever use Transactional Lending, i'd LOVE to be able to step in and help out anytime. To your question about an LLC or not, it DOES NOT matter. It will be taxed as ordinary income either way and flow through your personal taxes. You can close in your personal name or with an LLC. If you're new, I DO NOT suggest you get an LLC right now. Just an extra expense that isn't needed until you know you're consistent with deals then you might want to look into an LLC.

When you do, just talk with your CPA to make sure they set it up correctly for tax purposes.