Transactional Funding for Auction

[Account Closed]

Where should I seek transactional funding for an auction?

For example, are there any lenders who would extend a $1M line of credit to bid on properties?

[Wayne Brooks]

Transactional funding is generally only for a double close type situation, where another buyer, with their own funding, is doing a back to back purchase, and the funds are generally paid back within a few hours. It's not for an open ended purchase. . You need a relationship with some HML type, with specific agreements on specific properties (and about 30-35% of your own money) or a partner with cash.