transactional funding

[Dan Sager]

I have been doing a lot of research here on bp about wholesaling. but I am still confused to if I need funding when I am dealing with a private seller and not doing a double closing? if anybody could clear this up for me I would greatly appreciate it. thanks.

[Jay Hinrichs]

@Ned Carey

really depends on the closing attorney.. when I first experienced these type of closings coming for the west coasts it was pretty unbelievable to me. But then I learned to live with it. As such we provide the middle man funds ( transactional).. Where I ran into this was in Oregon I had a 15 lot development that I tied up and took through the mapping stage.. I needed 800k to close.. And of course I did not have the 800k at the time. I had it sold for 1.2 to a builder.. He was just waiting for me to not close so he could swoop in. I borrowed the 800k for one hour.. payed 20k and made 380k that day.. that was 1996 and it was were I learned about transactional financing.