All Forum Posts by: Jesse LeBlanc

@David Ginn not the case in a rate and term refinance.

that is where most people get caught up because that’s all they hear “seasoning period” and it’s because most people are wanting money back and to recoup some or all they have invested in the property.  They then get this confused and oftentimes then get it stuck in their mind that this is the only option (because it’s oftentimes all most investors know).

Wholesalers and RE Investors...Which Hedge Funds out there (all states) won't allow Pass Through Funding and require you to fund your own AB side? I know of a couple, but looking for more. I'd like to help both them out and other wholesalers who could sell more deals at a higher spread to them with the use of Transactional Funding.

Sweet!!  Yes sirr, congrats again @Scott Wolf.  Anytime you can be the bank...it's the way to go.  meanwhile, you're providing a lot of value to others.  Everyone wins

@Scott Wolf How much time had passed from your loan until it closed for payoff?  This sounds more like GAP/Bridge loan (Short Term Funding "STF") vs Transactional Funding (same day, generally don't require the normal lender docs).  I do both, but don't want others confused who read this later.

Regardless, HELLA AWESOME and it comes down to RELATIONSHIPS and TRUST.  

Absolutely sir, NP @Robert Williams

@Eric James a couple of reasons for the double close, but you're right that many use it for "hiding" the buyer from the seller or vice versa, some only do it so they aren't having to assign or disclose their fee and then there are places like NC where if you don't 100% disclose to all parties fully explaining the full process then ONLY double close WITH funding the AB side is allowed due to new legislation from the NC Bar.  Certainly cheaper to just assign, but depending on the transparency with the seller and wholesaler, they run the risk of losing the deal at closing if someone walked away.  (that has only happened to me once or twice over the years, when seller changed their tune knowing we were making a fee but didn't know how much until closing and they walked out).

Yes sir, at the time of that presentation I wasn’t offering this to the public, but finally decided to since so many were asking. 👍🏼👍🏼

But you know I’m here to help with so many things if anyone needs it 🤘🏼👊

@Ben Sears I just got finished offering Transactional Funding for several wholesalers there.  One of them used "Title One Closing & Escrow Co.", Micah Riley at Mriley @ titleoneohio. com I'm sure I could dig up some others as several of my friends are in Ohio

yes sir, np @Rafael Elias Leal

That's because they are still thinking Cash Out Refi most likely @Joe S., otherwise you might just need to look into another lender.  It's definitely not 75% of what you paid though.  Either their is a miscommunication or they just aren't the lender I'd work with honestly.

But a Rate and Term is always off the Appraised Value (from any lender i've talked with so far).  So let's say 75% of appraised value of 100k, they'd loan you up to 75k.  However, your current loan is 70k.  So now they will go with the lower, your 70k.   on a cash out, they'd give you the 75k, then you'd leave closing with 5k cash (minus closing cost etc, but to keep it simple is my example).

Outside of that, every lender and their requirements could be a tad different in what their SOP is and what they require.