Any information on transational funding?

Question

Has anyone here used transactional funding?

Barbara Brennan · Answer

steven, Erick 7 Jon,

Thanks for the imput re: transactional funding.  I checked out the fees on Coastal and also Lima One Capital yesterday, so I think I have some good options there.

My next step is going to some how figure out how to market for $ to go thru Larry Goins, however, so many posts and forums here mention people who got started wholesaling thru using BP.  I'm sure that is possible, just would require more investigation on my part.

Since i am a licensed Realtor, you are right about determining how not to violate any state or local board regs.  Our managing broker is pretty easy going and I will have a discussion with him in the near future once I find some properties.

Thanks

Jon Holdman · Answer

@Barbara Brennan requests for specific lenders need to go into the Marketplace.  But you really only need these if its a REO or short sale or some other deal where assignment is disallowed.  Those are tough deals to wholesale, anyway, since they're usually on the MLS. Best to market for private sellers.

Be sure you're not violation any real estate board regulations by wholesaling or getting cross wise with your broker.

Eric M. · Answer

You are getting ahead of yourself worrying about transactional funding.  Go out and find deals and when you have a deal, the transactional funding part is easy.

It is pretty tough to put one together, worry about that.

Steven Walter · Answer

Hi, Barbara - here are a couple of thoughts.

If you are only looking for transactional funding, you should be able to find sources via Google and maybe here on BP. If you want to start with wholesaling, you could always build a buyer's list by searching the MLS for cash buyers within a recent time period and contact them when you have a deal under contract. Not sure what your broker would think of the idea.

Barbara Brennan · Answer

Just getting started.  Want to do wholesaling.  Thinking of purchasing Larry Goins' course, but in the meantime (since his course only offers sources of transactional funding, I want to start investigating on my own.

I am a Realtor.  Have gone to several boot camps, etc, but never jumped in because of lack of funds.  Determined to find funding sources and wholesale.

Account Closed · Answer

What kind of deal are you trying to do?