All Forum Posts by: Jesse LeBlanc

@Amaya Boyd you can double close on the property if they won't allow you to assign.  I always think full transparency is best!  Then assuming all parties are on the same page, they can draft an amendment to that contract allowing the assignment OR if you all are on the same page and if they chose not to assign you could double close (cost more) or you can allow the seller to go direct with the end buyer and you can have your fee in the special stipulation of their contract to make sure you still get your fee at closing. 

If you double close, some attorneys will allow you to use pass through funding but ONLY if the end buyers lender (unless cash) must allow that, but most folks don't bring it up and all good.  Otherwise, you can use a Transactional Lender for funding your initial purchase on the double closing.  I am a Transactional Lender here in GA, but work in every state.  Wholesalers Transactional Funding :)

If you meant "law" then you can do an assignment if all parties are aware OR you can double close but you CANNOT use pass through funding.  If you double close, you'll need to bring your own funds for the AB side or you can use Transactional Lending to cover your purchase. :)

Confused by your question.  not sure what "the low" means.  I am a transactional lender if you or anyone else needs Transactional Funding for your double closing.  Wholesalers Transactional Funding   I can also refer anyone over to different closing attorneys there that other wholesalers commonly work with.

@James Helms Keep your pipeline full.  Once you have a solid deal, don't ignore your follow-up's.  Follow-ups are KEY to your success.  Also, make sure you have your buyer first, it will make your process MUCH easier by never having to figure anything out other than a price lower than what your buyer gave you.  Solid rapport with great communication with your sellers commonly beats a wholesaler at a higher price that the seller doesn't have a good relationship with.   Best of luck out there sir.

Good Afternoon @James Helms I'm a Transactional Lender for Wholesalers and have funded some for South Carolina.  One of the last ones we worked with was Steltzner Law Firm.  The contact there was Libby Venditti, her email is assistant @ Stelznerlaw . com

If I can go through my emails and find some others that double closed i'll send them over.

As a Transactional Lender myself, I rarely hear closing companies that won't allow a double close.  Most of the time there is a miscommunication there and what they mean is that they won't allow pass through funding and would require you to use a Transactional Lender to be able to double close.  Once in a while a closing company says that they MUST close out and record the 1st transaction then wait 24-48 hours before they'll close the 2nd transaction, and usually even with those we can usually work around that process, but there are a few who are super stubborn and refuse.  But again, super rare.

But if you run into that, I usually start with these things, IN ORDER:
-First try to see if the seller will allow you to move the closing to another closing company
-Increase the EMD to nudge the seller to accepting your amendment to change the closing company. the purpose of increasing EMD is to SAVE you money. In lieu of increasing the purchase price, explain the benefits to the seller that you mean business and YOU WILL close and by increasing the EMD it's not taking away from your bottom line
-Lastly increase the purchase price to get them to agree.  even if it's a mere $500 more might be all that it takes

We have 40+ 5 star reviews from other wholesalers who have used us for their Transactional Lending needs.  We work with many Hedge Funds and are referred by a handful of closing attorneys.  Please vet us out, review our website, our testimonial videos, our reviews. Check out Google Business.   Either my assistant or I will always answer the phone, amazing communication and also the full understanding of what you go through as a wholesaler. 

I owned a wholesale company for many years and fully understand what you need.  Time is money, Communication is Key!

Wholesaler Transactional Funding 404-609-0849

 Depends on the State and the closing company.  Georgia for example MAJORITY of wholesalers use pass through funding.  However, because NC is so close and the NC Bar has changed laws there NOT ALLOWING IT and then some, more title companies and closing attorneys here in GA are beginning to not choose to allow pass through funding even though they can.  I still have friends who wholesale and even though they can use pass through funding, they still choose to use Transactional Funding and double close plus get title insurance etc to make 100% sure they're on the up and up and nothing can ever come back on them.  A tad overkill, but I completely understand why.

 There are some states and then also some closing companies that will allow "pass through funding" which is allowing your C buyer to fund your AB side purchase.  But more and more counties/states and closing companies are tightening in on that.

If you need Transactional Funding, check out Wholesalers Transactional Funding with nearly 45 5 star reviews on google and many testimonial videos for you to vet out. :)  But check with your closing company first to see if you can save $$!  If not, then we'd love to help you out anytime you need us.  

I have nearly 40 5 star reviews with Wholesalers Transactional Funding. 1% over $100,000 as well. I’d be more than happy to help any wholesalers or investors looking to double close and in need of Transactional Funding.