Blog

How to do $1 million no money deals using transactional funding.   • Is it really possible to do deals for $1 million+/- with no money of your own? Emphatically, yes! • Whether you're looking at buying and selling single-family homes, commercial properties, multi-families or even raw land, all you need to do is get the property under contract with the seller and find an end buyer. • Some investors look for end buyers who need a specific type of property before they engage with the seller to purchase their property, just make sure you get a [...]

Why double close? Why don’t you just assign the contract?   Why would you need to double close? • The seller won’t allow you to wholesale /assign your contract • The end buyer won’t allow you to assign your contract • The closing agent or attorney won't do an assignment • The state where the property is located won’t allow investors to assign or sell their contracts • The most important one - your profit is too large! So stop making what professional wholesalers call paying you a “tip” when they take an assignment from you. You [...]

What's required to get transactional funding?   Transactional Funding is typically for wholesale double closings, wholesale flips or in some cases what's called flash cash. This is the most asked question I get as a transactional funder. Let's talk about what's not required. • There is no credit check. • Bankruptcy is okay. • No appraisal required. • Condition doesn't matter. • Buyer can be an LLC, partnership, corporation or an individual. • No proof of funds required. • No application form. • No additional fees other than the transaction and the wire fee. Three things are [...]

I have heard some crazy transactional funding requirements for wholesaling, but if someone asks for certain items or information it is a warning sign to run the other way and find another transactional funder.   Hi I'm Dave Dinkel and this is my warnings to real estate investors. Today's issue is why would you need a passport for wholesaling? I got a phone call from a wholesaler asking what documents I needed to approve him for transactional funding - pretty much a standard question.  When I explain what I needed, he sounded shocked and frankly angry. It [...]

Can Straw Buyers Ever Be Legal? I was contacted by an investor who asked about using transactional funding. I explained the process and asked him to send me his signed purchase and sale contracts. He complied and when I called the closing agent to confirm that I was the “funding partner” of the investor the closing agent shouted at me that the transaction was illegal! She went on to explain that I was a “Straw Buyer” and her attorney boss would not do the closing. I tried explaining that I was not the buyer and the [...]

  As soon as I think I have seen it all something new pops up. When I do transactional funding for wholesale same-day double closings I meet literally hundreds of closing agents and closing attorneys across the country. Every once in a while, I have some interesting feedback about their closing practices. Very often a new investor gets confused about the specifics of the closing cycle. I can help because I have done thousands. Investors are eager to listen and learn especially when they have serious profits at stake. If the closings don’t happen everyone from [...]

POF's and VOD's in Real Estate Investing Before seven years ago it was rare for a Seller or a listing agent to ask a Buyer for proof that he could purchase a property for cash. Because of investors telling Sellers they were cash buyers when they weren’t and failing to close, things have changed. Nowadays it is very common for Sellers and listing agents to require a Proof of Funds (POF) before they will submit an offer to a Seller. In its simplest form a POF is a copy of the Buyer’s bank statement showing enough money to [...]