Real Estate Closing Attorney Loves Transactional Funding?

Why Do Some Closing Attorneys Love Transactional Funding?

 

Real estate closing attorneys, title companies and closing agents in general have strong opinions about real estate investors.  Some of these people are investor oriented and others are downright confrontational.  Much of these opinions are centered around previous interactions or non- interactions with investors.

 

 The real estate closing agents who do a substantial non-commercial real estate business have to be investor friendly.  The real estate investing community is a relatively small community of like-minded individuals who make money by buying and selling single-family and multi-family homes.  Referrals to like-minded closing agents help build practices very quickly; likewise, negative feedback can slowly kill closing agents’ business.

 

There are some closing agents who are affiliated with Realtors® and may even be completely or partially owned by the real estate brokerage.  They exist by referrals from agents to stay in business and are sometimes unfriendly to real estate investors.  Then there are law firms that do real estate closings as a sideline to their regular practice of general law.  These types of firms do not rely on investors doing double closings to survive.

 

The closing of a real estate transaction has a limited amount of income potential for closing agents.  The amounts and reasons for charging closing fees is limited so successful agents focus on high volume repeat business or high fees.  Overcharging investors will not keep them coming back.

 

The more successful option for closing agents is working with repeating clients and working with investors who have limited funds.   The conventional belief is that anyone buying a property must have the money to pay for it at closing or borrow this same amount of money. 

 

Many successful investors do not have the money nor can they borrow money to close and hold a property.  However, they can use transactional funding or so-called flash funding to buy and sell properties worth thousands or hundreds of thousands of dollars.

 

The most successful real estate closing agents and attorneys understand the use of transactional funding and embrace its use as a one-day funding technique for closing real estate transactions.  In some instances this process of transactional funding of the investor’s purchase is so ingrained, that the closing agents have made a secondary business of supplying transactional funding. 

 

Ask yourself this question, “Does it really matter how or where the investor-buyer gets the money to close so that everyone is paid?”

 

If  the transactional funding lenders were not accessible many of the real estate closing attorney’s business would not be able to close at all.

 

When your real estate closing attorney understands the power of transactional funding lenders to help get deals closed they love working with the transactional funding lenders!

About Dave Dinkel 27 Articles
Dave Dinkel graduated from the University of Florida in 1968 with a BS in Chemical Engineering. He initially worked for a petrochemical research and development company in Illinois. Later he entered the financial arena as a stock and commodity broker with Merrill Lynch.While a stock broker he became a Certified Financial Planner and later started his own brokerage firms and stayed in the financial services industry for 22 years before retiring to pursue his love of real estate investing. After retirement, and because of his interest in business start-ups, he worked with a small company for a few years while driving their sales from under $12,000,000 to over $150,000,000 annually before going back to full-time real estate investing.Dave Dinkel has been a national platform speaker, contributor to local real estate clubs, mentor and consultant to numerous real estate investors and all the while running his own real estate business. Mr. Dinkel received the following degrees or designations: BSChE, FINOP, CFP, MSRP, RSP, RR, ROP, SROP, MGA, GA, Certified Estate Planner, Licensed Mortgage Broker, and Licensed Insurance Agent. He is often referred to as the “Teacher of Teachers” and his Mentoring continues to produce Students who go on to be national real estate "Gurus". .He has been a real estate investor since 1975 and recently received the first-ever Lifetime Achievement Award for Contribution to the Real Estate Investing Community. While being active in real estate investing for over 40 years, he and his wife Nancy have been married for over 52 years. He is most well known for the development of his Mentoring Program that has been called, "The Best Mentoring Program in the Country" which he continues today.In addition to his Mentoring Program, he started a full-service transactional funding Program so that new investors had the ability to do deals with no money of their own. He challenged the funding industry by making borrowing money very simple with his "One Point Funding Program" which has revolutionized the transactional funding industry and made millions of dollars available to investors who otherwise could not have afforded it. Currently his transactional funding is only available in Florida.Get more information about his real estate investing mentor program at http://www.DaveDinkel.com