What Loan do I get for a SFH quick sale?

[Steven Foster Wilson]

I recently came across an incredible deal near where I live. Its priced at 97k, comps for a house in good condition are in the low 200's. Instead of spend months fixing and flipping this place. Id rather wholesale it (I believe in Ohio I must buy the home first then resell?)

So I am looking for what type of loan do I get? Can I get an owner occupy loan for 5% down (intending to live in the property) and then sell it after 2 months. Or do I need to get an investor loan for 20% down and most likely pay a pre-payment penalty?

[Shari Peterson]

You could get Transactional Funding to give you 100% funding to purchase the property, and then immediately re-sell it to your end buyer that same day at the same title company. There would be no cash out of pocket for you, and you'd get your profit spread at the second closing. These would be both the same day, so you would not be living in the property.