100% Transactional Funding For Texas Wholesalers
There are no up-front fees with our transactional funding program, and we can close your deal on a very short notice! We will fund 100% of the entire purchase price and closing costs. Our clients come to the table with no money down!
What is Transactional Funding:
Transactional funding is a short term hard money loan that wholesalers utilize to quickly buy and resell investment property the same day. Transactional funding is often called a “double close” or a “AB-BC” transaction. Where the seller of the property is Party A, the wholesaler is Party B, and the end buyer/investor is Party C. Party A sells his property to Party B, and the same day, Party B (you) sell the property to the end buyer, Party C.
Transactional Funding For Wholesalers Program Highlights:
– No Credit Check!
– No Up Front Fees!
– No Down Payment!
– No Appraisal Required!
– No Employment Verification!
– No Income Documentation!
– No Bank Statements!
– No Liquid Asset Documentation!
– No Prior Experience!
– Prior Bankruptcy, Foreclosure, Short Sale OK!
– 100% Funding (includes purchase price, closing cost and fees)!
Why do I need transactional Funding or when is it needed?
Wholesalers tend to use transactional funding for mainly three reasons:
- The property that the wholesaler wants to buy is not assignable to a third party. Meaning the property, the wholesaler is planning to flip, “assign” to end buyer is most likely owned by a government agency, REO, Fannie Mae, Freddie Mac etc.
- Credibility to the transaction. When a wholesaler uses transactional funding, it allows the seller to perceive that they are cash buyers at the closing table, rather than dealing with scheduling cash investors to show the property, (which sometimes upsets the seller) and hoping they close on time.
- Non-disclosure of assignment fee. There are times where as a wholesaler, you will make a great deal of profit on a wholesale deal, and the end buyer may not want to do the deal because he sees the assignment fee is too high. When you choose transactional funding, the profit on the deal is not disclosed on the closing statement.
Is there a minimum or maximum transactional funding amount?
We do not have a minimum amount, but our maximum amount is $1,000,000
What are your Transactional Funding Fees?
We do not have any upfront fees, just a 2% transaction fee. That fee goes down to 1% if the end buyer uses us as their hard money lender.
What are the transaction funding approval requirements?
We do not run your credit or ask for any bank statements or tax returns.