Transactional Funding and Proof of Funds

7 Replies

Is there anyone that could point me in the direction to finding a company that could proved Transaction Funding and Proof of Funds? I am very interested in wholesaling a Hud property and I've done research and read that i could find proof of funds from a possible hard money lender or transactional funding companies. It would be greatly appreciated if I could get some advice about how this works as well.

I believe HUD properties are going to come with deed restrictions on them that don't allow you to transfer for a certain price over purchase price within 90 days.

Thank you for this information James. There is a 90 day restriction, However there is a 20% rule. Which means I cannot sell the property for more than 20% above the orgininal price. For example if I have a property that I purchased for $50,000 I could not sell it for $70,000 but I could sell it(in this case wholesale it) to an investor buyer for $60,000

Sounds like your going to eat up all your profit in closing costs, advertising costs and money costs.

There are no deed restrictions on a HUD property . A HUD property can be resold the same day. The deed restrictions mentioned are for FNMA properties

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