Transactional Funding

Go to my Transactional fund website below. Enter your info and watch the presentation. A good explanation.
One thing you should know. In order to use transactional funding to double close a deal your buyer MUST have his funds in escrow. In other words you have to have a real buyer with real money in advance. The process is not hard.

Michael Mangham
MD Home Acquisitions LLC

www.coastal-funding.com
www.insiderscash.com

Best Wishes

WOW you guys are simply AMAZING! Another question I forgot to ask was, if I wanted to make a deal out of state using transactional funding do I have to personally be there, for the closing? The reason why I ask is because we are based out of New Jersey and the market here is outrageous. I also understand that it is best to find a buyer/investor who wants to pay cash...

You would not have to be there. Call the title company and set up the out of state closing when you get a deal!

Michael Mangham
MD Home Acquisitions LLC

Mike you're truly a GREAT help and I appreciate your time and help. What state would you suggest is best to make a first deal in today's market?

Can someone help me to understand this better. Question 1) is do you have to be a company like LLC or something like that to get funding, and 2) how exactly does this work. I think that I fill in the info, and they cover the amount, so they can generate a letter, however, I actually produce the money when needed? Is this right? I really don't understand this system. Thanks for your help. Sincerely, TAmmy

1. Find a real deal that you can wholesale flip to a real cash buyer (the hardest part!!)
2. Make an offer on the property(if it is a short sale or REO)and supply your proof of funds letter. No need to double close an assignable property!
3. Get an accepted offer in yours or your company name. Does not have to be an LLC although it is advisable. determine your closing date. The a to b.
4. Sell this deal to your buyer using your own contract, collect his earnest money
5. Call your investor friendly title company and set up the b to c closing.
6. Call your TF company and let them know your closing date. Same date as the a to b.
7. My TF guys will walk you through the whole process, don't know about other companies
8. Your buyers funds need to be in escrow at your b to c title company usually 24 hours in advance. You will need to provide a HUD1 and Deed from your a to b to the b to c title company 24 hours in advance. Just ask for it, don't say why. They usually provide it a day early anyway.
9. Go to the b to c first (usually) and sell to your buyer. Collect your check.
10. Go to the a to b where your TF funds your purchase.

There you go. It is easier than it sounds. Once again the hard part is getting and selling your wholesale property with numbers that work!

Michael Mangham
MD Home Acquisitions LLC

Thank you so much MIke! Can you tell me if I find a property and lock it up. Then can I assign it and the buyer takes over, or do I still need to worry about funding and going to the closing? Thanks, Tammy

When you assign a contract, your buyer takes over your contract for your stated fee(in the assignment contract)and he closes with your seller at a single closing using his money. The title company cuts you a check for your fee or wires the money directly into your account (thats how I do it) I always attend the closing to visit with my seller and buyer and make sure everything goes smoothly. You do not have to be there at all though. No funding is needed for assignment of contract deals.

Michael Mangham
MD Home Acquisitions LLC

Thank you Mike for the clarification. Sincerely, Tammy

Hi Tammy and Alex,

We are a NJ-based, nationwide transactional funding company.

1) LLC - yes, most transactional funders require this. But, if you have no choice, please talk to us and we can arrange something.

2) "how exactly does this work. I think that I fill in the info, and they cover the amount, so they can generate a letter, however, I actually produce the money when needed? Is this right? I really don't understand this system"

- Our steps are generally similar to Mike's except for points 9 and 10. We close AB first with our funds and then close BC with end buyer's funds.

3) We also provide proof of funds and VODs should you need it.

Please let us know if we can help. My contact information is below.

Thanks,
Duane.