|
Extended Transactional
Funding Now Available
for Short Sales and REOs for up to
12
Months
We are pleased to announce that our
sister company REI Funding (www.REIFunding.com) is
now offering Extended Transactional Funding for up to 12
Months! This will accommodate those situations where you get a
short sale approved, yet it comes with a requirement that you
hold the property for 30 days .... or longer. Or, let's say
you want to flip to an FHA buyer, and they can't officially
open the loan application until you have closed and are
showing on title. Or, you want to flip an REO but their title
company won't let you do a back to back close.
All of these scenarios are now
covered.
NO MEMBERSHIP REQUIRED TO
GET OUR
FUNDING!
What is
One Day Transactional Funding?
One Day Transactional Funding is used when you
have a real estate deal that you need to close and you will be
re-selling that same deal to another party that same day. The
entity that you are buying it from needs you to provide the
funds when you purchase it. When you re-sell it in a second
closing that same day, you will then have the funds to re-pay
the person or company that provided the funds in the first
place.
The problem investors run into is that
they don't have the funds to close the first part of the
transaction...
That problem is
now solved with One Day Transactional Funding.
Example of a One Day
Funding Transaction
Let's say you get an approval for a short sale
on Mr. Smith's house at 123 Main Street for $100,000. You find
a buyer, Ms. Jones, who will pay $120,000 for that house. In
order for you to get the profit between the $100,000 that the
bank approved and the $120,000 that your buyer agrees to pay,
you must first close and pay for the house from the lender.
In this transaction, Mr. Smith is party "A". You are
party "B". Ms. Jones is party "C". We provide the $100,000 to
you, party "B" in the purchase from Mr. Smith. This is the A
to B part of the transaction. You then sell the house to Ms.
Jones in a second closing that same day. This is the B to C
part of the transaction. Once the B to C part of the
transaction is complete, the funds you had to close the first
transaction can be re-paid back to our company that provided
them to you.
|
