Updated about 7 years ago on . Most recent reply
Investment capital .
I’m curious and excited about getting into the business of wholesaling & flipping . However I’m straining on how exactly I’m going to fund this hair-brained idea of a business .
Does anyone have any tips on finding either investors to fund wholesale deals for a percentage of the profits ?
Perhaps tips on dealing with transactional funding on how best to use it ?
Most Popular Reply
For assignment of contract; the investor friendly title companies can do the transaction; without a need for funding source. You get paid assignment fees. The risk is the buyer/seller would your fees and most of the time under $5000 or may be upto $10,000 fees; buyer or seller will let go.
When profit starts to go ovr $10,000 or 10% of property price; you do double closing OR simultaneous closing; then it is better to use transactional funding from lenders; who do 100% financing. This way the buyer / seller would not know your profit at the day of closing. They can always find out after couple of months; when the deed gets recorded in county.