Lenders (Flip Funding LLC)

7 Replies

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

Legit company? Just doing some research

Thanks

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.

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 

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.

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...

@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. 

@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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