(Note: Want the best system for fixing and flipping houses in the world? This brand new report exposes our step-by-step formula for wholesaling houses site-unseen in ANY area of the country … all from the comfort of your cell phone! Learn more.)
Hey Moguls, Steph Davis coming to you with another highly informative lesson.
Today, I want to talk about a few things that are all kinda related. First, I'm going to explain what exactly transactional funding is, how it works and what it can help you accomplish. But, I'm also going to cover the differences between a double close and a simultaneous closing. I hear from some of you investors that you still get a bit confused about these two.
So, in this lesson, I want to clear it up for you, and explain how transactional funding plays a role in these scenarios.
Simultaneous Closing
For the most part, in your business, you’re probably used to dealing with private sellers – the regular Joe Shmoe homeowner. When you have those types of deals, you can just put the property under contract and assign that contract to your end buyer. In this case, there's only one closing.
It used to be that there could…
Steph Davis
started wholesaling in October of 2006. At the time, she had been stuck at a job bartending for the past 10+ years. She was broke and miserable, and desperately wanted out of the bar scene, which I had been stuck in for the last 10+ years.
She ended up closing four wholesale deals by the end of 2006.
Since then, she's closed more deals than she can count, has written two best selling wholesaling courses (Flip This REO and The Cash Buyer Ninja) and continues to teach others how to wholesale with videos, interviews, and as much useful information as she possibly can, because she knows what it’s like to be a broke beginner, struggling to get that first deal.