TRANSACTIONAL FUNDING TAMPA BAY

Using Transactional Funding Tampa Bay and the Counties Around the Tampa Bay Area

 

Wholesale real estate investors looking for transactional funding Tampa Bay Florida including all of Hillsborough, Pasco, Pinellas, and Manatee Counties use transactional funding extensively to fund wholesale deals that include short sales, sellers direct and REOs (bank-owned properties). Transactional funding Tampa bay allows real estate investors to buy and sell properties without using any money of their own – no money, no credit and they take no market risk!

 

Most people who think about real estate investing think that you have to have the full amount of money to purchase a property and close and then find a buyer who gets financing from a bank. Actually this is very far from the reality of how investors legally “flip” or wholesale properties using what is known as a double closing.

 

In a double closing, the property seller is designated as the “A” seller and the investor as the “B” buyer. The first half or “leg’ of the transaction is called the A – B leg and the investor pays the seller of the property the agreed to purchase price. What happens next is the investor “B” then sells (same day) to an end-buyer that he found for a higher price than he just paid. The end-buyer is called the “C” buyer and this half of the transaction is called the B – C leg.

 

In a few cases, there can also be a C – D, D – E and possibly even an E – F leg to the same transaction. In these cases, there are wholesale investors in the “daisy chain” of sellers who each found a buyer who in turn found another buyer. These flips are totally legal as long as the end-buyer’s money “C” or “F” in the above daisy-chain example isn’t used without his written permission as well as the original seller’s “A” written permission.

 

If you are checking out local real estate closing agents in the Tampa Bay area and they say that double closings are illegal, IMMEDIATELY find an investor-friendly closing agent who actually knows what they are talking about.   Even a few attorneys will say these transactions are illegal but that’s most often because their title policy insurer does not allow them.

 

We have investor-friendly closing agents who are ready, willing and able to do double closings and they are either attorney owned or not depending on your personal choice. Call us and ask for a referral in your area for transactional funding Tampa Bay.

 

Some newer investors will ask, “Why not just do an Assignment of Contract” with the end-buyer “C”?” The answer is simple; many sellers will not allow an assignment of contract, especially in REOs and shorts sales, where a listing agent is involved and if an attorney gets involved representing the seller. However, the most important reason is so that the original seller “A” and the end-buyer “C” don’t know what price the investor “B” paid for the property.

 

There is no swifter deal-killer than showing the seller you are making a $25,000 profit on the sale of his property when you only own it for a few minutes or hours. Likewise, an end-buyer very often will think he paid too much when and if he sees your profit. This is despite being satisfied with what he was paying before he knew!

 

We like to do a double closing when the profit is greater than $15,000 but this varies by area. Don’t be penny wise and pound foolish trying to save a few dollars and lose the entire sale and your hard-earned profit – do the double closing when necessary.

 

Transactional funding Tampa Bay is where the funder of the A – B leg wires funds needed to close this transaction to the A – B closing agent. This amount is the full amount (100%) of the net due from the buyer (B) that is due on the HUD-1 Closing Statement (Line 303). As an example I am sending in almost $300,000 to a closing agent in Orlando for the A – B closing on a property while the investor (B) and the end-buyer (C) are closing with a closing agent in Miami.

 

Need transactional funding Tampa Bay area of Florida including all of Hillsborough, Pasco, Pinellas, and Manatee Counties have short sales, REOs, probates, and other types of motivated sellers who can be great candidates for investors who want to get wholesale properties. Using transactional funding insures that these deals can be completed with no monetary requirement from the investor for the A – B leg.

 

To your limitless success,

Dave Dinkel

 

 

 

 

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