All Forum Posts by: Copelon Kirklin

Does the end buyer know the purchase price on your contract with your seller? If not, why not just use transactional funds and a double close? Use the transactional funds to close with your seller and then a few hours later close with the end buyer with a price that allows you to make the fee you would have made by assigning the contract.

Why not use transactional funding? 

One aspect that hasn't been mentioned where you can net your $40K without any ill feelings from anyone is using transactional funds. It's still a double close but you would be coming to the table with seemingly your own funds, i.e. transactional lender funds. Give me a shout. 

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@Kimberly Jones  Thanks for the thorough response. Definitely gave me more insight.

By the way, have you done any HUD deals with investors? If so, how was your experience?

I've been building my cash buyers list locally but wonder if there are any strategies I'm not applying to secure nationwide buyers. Specifically, those interested in the New Orleans, LA area.

@JoJo Diego The only issue I would have with using a personal loan is that I would be the guarantor. Hard money makes sense in these types of scenarios because the property would be guaranteeing the loan. This is why you hear of investors using hard money more than personal loans. But one caveat to hard money is that there are very few TRUE hard money lenders existing today. True hard money lenders (like before the '08 financial crisis) did not take income or credit into consideration, only the property. You'd be hard pressed to find many of those lenders in the market today. But there are a few there. I know of one personally. So, you definitely have options. It's just more so of which option best fits your investment strategy.

We just closed on a HML from our Investor Financing product for an investor in New Orleans, LA. NO income, NO credit, NO debt-to-income calculations. If you have financing needs and are interested in hearing more about this product, do not hesitate to contact me.

I'm looking to network with Realtors in a combined effort to help their investor clients who can use funds from a hard money source that doesn't require credit or income verifications. There's no limit to how many properties they can use this funding for. If you have anyone, give me a shout. 225-304-2634 or email me: [email protected]

What are you looking for? Conventional, hard money, etc?