Wholesaling using transactional funding!

[Harriett Williams]

Hello BP Family, 

I need a little bit of understanding on flipping HUD homes using transactional funding. It is to my knowledge that when buying a HUD home you have to have proof of funds this is where T funding comes in, but in order to use T funding you already have to have contracts in place with the end buyer. So my question is when do you start to look for your end buyer on the property? is it while your still bidding through HUD or after the offer is accepted? if so, how long do you have after the offer is accepted to provide proof of fund etc? If you guys could give me your process when buying HUD homes that would be great!

[Greg H.]

Originally posted by @Nick C.:

You'd need to get an offer accepted before you look for an end buyer. Unless your offer is accepted you have nothing to sell.

You have 48 hours from your bid acceptance to get your earnest money of $500 for <$50000 purchase price or $1000 for above >$50000 along with proof of funds for the entire purchase price to the HUD Asset Manager