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Updated almost 13 years ago,
Wholesaling, Mortgages & Transactional funding
I have a situation where I have 3 houses that I'm thinking of wholesaling to end buyers through a back to back closing BUT each house has an existing "mortgage" on them. Also, each house has a tenant who is paying the mortgage. What I want to know is can I obtain these homes under contract and use "transactional funding" to pay for these homes before I flip them to my end buyer? How can I work this out with the title company? Can I deal with just the owner or would I have to deal with the mortgage company? Any help in regards to this scenario would be GREAT appreciated! Thanks :)