Transactional Funding for REO's

http://www.deangraziosi.com/real-estate-forums/buying-foreclosures-reos-...

DG was offering TF

TF used in double or back to back closings

Thanks Mike I'll check it out

EP

I was thinking about joining, How much is it now?

the cost of the SA depends on each person individually; PMI will ask you about your income, credit available, etc. and then give you a quote for the program...

In deans book it says to get an agent to find the cash buyers in your area. i tried going to my city web and get that info myself, is that even possible? i couldnt find where it said so and so paid cash and so and so paid by financing, are agents the only ones able to do this? I looked all over the place. please help.

are there any agents that will give your offer to the banks without a p.o.f letter. I figuered some might and some wont too many to call myself. maybe someone knows. my plan was to put in offer,get it accepted, then find a buyer asap, and then use his pof letter thanks

cansomeone answer frrizzos questions please, thanks

I have recently been told By the support staff, that you have to have a proof of funds letter . Most banks want you pre qualified and this letter qualifies you.

If you don't have an investor yet, try putting a ghost add on craigslist . That's how I've gotten a couple of investors.

Jay

thanks for the info jaymiller. when you made your ghost ad what did you tell the investors. did you say you sold the house already. thanks

hey frrizzo,

to answer your questions:

1. reo question: only your agent and a title officer can pull that list for you. so if your agent won't then contact any title company and ask them to pull that list for you and you should have no problem with this.

2. transactional funding: go to www.insiderscash.com or www.coastal-funding.com both good companies to work with.

hope this helps.

thanks, theres one thing about t.fs i dont get. Your going to them for p.o.fs because you dont have any. Then when you ask them for help they want P.O.F TOO. Is there some thing im missing? They say they want your buyers proof of funds, why not just bypass the t.f company and use your buyers letter? Hope i explained this correctly, thanks

In order to use TF, you have to have a buyer in place AND escrow set up 48hrs prior to close

Sorry for the long delay in my response.was trying to find the post again.

I told them the property wasn't available and went on to say that this is the type property I come across. Tell him that you find properties below fair market value and ask if when you come across another deal, could you run it by him. At that time you find out what his criteria for buying a property is .

I did have one investor ask me to send him the property info so he could see what type of deals I could bring to the table. At that point, I was just honest and said that the property wasn't real and that this was my way of advertising to find investors. He was good with that and then sent me his info of what he was looking for.

Good luck!

Jay