Lenders (Flip Funding LLC)

Lenders (Flip Funding LLC)

Todd ChartierPro Member
Real Estate Investor · Willis, MI · Member since 2014 · 14 posts · 2 votes

Have any experienced investors ever used "Flip Funding LLC" to fund any of their deals?

Legit company? Just doing some research

Thanks

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  • Investor · Fort Wayne, IN · Member since 2014 · 1k+ posts · 515 votes
    11y

    it looks like they do transactional funding. This is a bunch of crap made up by the guru to make lots of cash. I have never needed transactional funding there are 2 to 3 ways around it but the simple way is just assign the contract for a fee. Let me know if you need any help with that.

  • Todd ChartierPro Member
    OP
    Real Estate Investor · Willis, MI · Member since 2014 · 14 posts · 2 votes
    11y
    Originally posted by @Jeremy Tillotson:

    it looks like they do transactional funding. This is a bunch of crap made up by the guru to make lots of cash. I have never needed transactional funding there are 2 to 3 ways around it but the simple way is just assign the contract for a fee. Let me know if you need any help with that.

     Thanks Jeremy 

  • Investor · Fort Wayne, IN · Member since 2014 · 1k+ posts · 515 votes
    11y

    I am in Indiana, and I like to go to MI so u get a deal u are working on I will walk you thru one or 2 to get you started. Doing a flip or wholesale will get you cash, it is alot of work but I can help you do a few.

  • Residential Real Estate Broker · Indianapolis, IN · Member since 2010 · 1k+ posts · 557 votes
    11y
    Originally posted by @Jeremy Tillotson:

    it looks like they do transactional funding. This is a bunch of crap made up by the guru to make lots of cash. I have never needed transactional funding there are 2 to 3 ways around it but the simple way is just assign the contract for a fee. Let me know if you need any help with that.

    Don't forget, if you are buying a REO, the seller will not allow assignments and one must use transaction funding...

  • Investor · Fort Wayne, IN · Member since 2014 · 1k+ posts · 515 votes
    11y

    @Shawn Holsapple If u know your buyer, get them to write you a note on their escrow money, secured by real estate they are purchasing, when they purchase the note is released. $100.00 in legal papers versus thousands in fees. Totally legal and legit. I have done several times, at first the title company had to ask their attorney, but its legal. 

  • Investor · Fort Wayne, IN · Member since 2014 · 1k+ posts · 515 votes
    11y

    Ok everyone I realized that was an idea most people have never heard of so I started a new thread

     http://www.biggerpockets.com/forums/93/topics/1623...

  • Investor · Willow Spring, NC · Member since 2009 · 5k+ posts · 3k+ votes
    11y

    @Jeremy Tillotson 

    It isn't that we have not heard of this. We have. Some have done exactly as you state, although not since about 2008 in NC and many other states. What you describe is not legal in all states. See the other thread (http://www.biggerpockets.com/forums/93/topics/162355-why-is-everyone-using-transnational-funding-you-dont-need-it?page=2#p1090201 ) for the statutory references in my state and at least one post from an attorney regarding a suggestion on how to structure this w/o a TL using buyer's funds.

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