All Forum Posts by: Jesse LeBlanc

 That doesn't make it illegal or stop it from happening @Owen Dashner. That just comes down to the closing companies SOP. Buyer could just choose to work with another closing company. I have quite a few folks closing deals out there, NP. HOWEVER, I am not at all denying that if I was a Title company or Closing Attorney that I too would would prefer to CYA and be safe over a few extra deals and a few extra thousand $, sometimes it's not worth the risk and then having a claim on my E&O. No Bueno

Incorrect.  You can talk to a seller who is interested in selling their property.  You can then talk with your buyer and show them a property that you don’t have under contract yet. They give you a price they would buy it for.  You then go to seller and get it under contract Lower than your buyer said they’d buy it for. 

Now you double close.

DONE. 

 The BEST WAY to handle that is to have your BUYER FIRST.  Don't chase the deal until you have a legit buyer, know their criteria then start looking.  Once it's time for the contract, then already know what your buyer will pay, get it UC for less than that and double close.  No one can stop you from that and you don't need experience in doing it.

You just don't need to do it like MOST wholesalers who lock **** up, don't care about the seller and THEN find a buyer.  It causes more stress, more headaches then makes you and others look bad. 

TOOO many ways around that and too many people are just listening to the first thing they see and get in a panic.  But double close and use transactional funding.  Done deal for wholesalers.  That will never stop wholesaling.  

NO MINIMUM ♦  100% FUNDING

1% ORIGINATION FEE

USING TRANSACTIONAL FUNDING HELPS YOU TO AVOID THE FOLLOWING:

• -Buyer’s lender not approving your assignment because you aren’t on the deed
• -Buyer or Seller walking away at closing when they see your assignment fee
• -Hard Money Lenders with high origination fees and 14% annual interest
• -States or Counties requiring wholesalers to be licensed
• -States or Counties that don't allow pass-through funding
• -Tightening attorney scrutiny due to new title Insurance & financing regulations
• -Closing Companies that won’t allow pass-through funding or say it’s illegal

NO MINIMUM ♦  100% FUNDING

1% ORIGINATION FEE

USING TRANSACTIONAL FUNDING HELPS YOU TO AVOID THE FOLLOWING:

• -Buyer’s lender not approving your assignment because you aren’t on the deed
• -Buyer or Seller walking away at closing when they see your assignment fee
• -Hard Money Lenders with high origination fees and 14% annual interest
• -States or Counties requiring wholesalers to be licensed
• -States or Counties that don't allow pass-through funding
• -Tightening attorney scrutiny due to new title Insurance & financing regulations
• -Closing Companies that won’t allow pass-through funding or say it’s illegal

NO MINIMUM ♦  100% FUNDING

1% ORIGINATION FEE

USING TRANSACTIONAL FUNDING HELPS YOU TO AVOID THE FOLLOWING:

• -Buyer’s lender not approving your assignment because you aren’t on the deed
• -Buyer or Seller walking away at closing when they see your assignment fee
• -Hard Money Lenders with high origination fees and 14% annual interest
• -States or Counties requiring wholesalers to be licensed
• -States or Counties that don't allow pass-through funding
• -Tightening attorney scrutiny due to new title Insurance & financing regulations
• -Closing Companies that won’t allow pass-through funding or say it’s illegal

Unless the wholesaler is also buying it on the AB side then seller financing to you, then perhaps they might be willing to do a seller carry back for their spread or assignment.  Holding the note as a wholesaler with an end buyer on a long term rental is AWESOME for both wholesaler and end buyer.  I always suggest wholesalers doing this if the spread isn't life changing for them at the time.  being the bank is where it's at. :)

I fund wholesalers deals for Transactional Lending all the time and can provide you with a POF as well if you'd like @Brendan Lawrence