Transactional lender recommendations?

3 Replies

Hey guys, I am looking for a recommendation for a transactional lender. I'm looking to do a wholesale deal soon, but I need a proof of funds for a double closing because the property is a short sale and the lender needs a letter from a lender. Does anyone have any good recommendations?

I'm in Washington State, so either a Seattle company or any nation wide hard money lender will do. I know I can find a hundred lenders in the Bp hard money lender directory - but I'm just looking to get a recommendation for a good one.

Hi Brandon. Will your wholesale deal be a true double/same day closing? Two contracts, two escrows, same escrow company? Will your buyer have cash or a solid lender that will fund, even with possible disclosures regarding a double close contingency? Will you be able to select the escrow agent on your buy?

If so, you could ask many of the people you personally know in the BP community that lend. True transactional lending is virtually risk free as the escrow doesn't usually get funded until everything is lined up and ready to close.

How much are we talking about? :)

Hey Kristine Marie Poe sorry I just realized I never responded to you! I am (hopefully) talking about a true two escrow, two contracts, same escrow company closing. I'm not looking for a ton - just potentially under $100,000. I did talk to a couple folks and have a few options now (yah BP!) but I'm not even sure I'll get the deal. We shall see! Hopefully this can be a success story sometime soon!

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