REI Investment Society offers Transactional Funding! This type of loan is perfect for wholesalers or investors who is looking to buy a property with little or no money down.
When dealing with bank owned properties and short sales, for example, most lenders will not allow contract assignments, so instead of doing a simple assignment to your end buyer, you are required to close on the property yourself (in what is commonly referred to as the A-B transaction), and then sell to your end buyer in a separate transaction (commonly referred to as the B-C transaction).
This creates a problem for many wholesalers who do not have the funds available to close on the A-B sale themselves. While there are some title companies who will allow you to do a simultaneous closing and use your end buyer’s funds to finance both the A-B and the B-C transaction, the majority of them will require you to bring your own funds to closing. This is where transactional funding comes into play. It is short term money that you can use to get your deals done. The money isn’t dependent on your credit score or credit history. You can get 100% of what you need to facilitate a deal.