I would choose not to risk my own money (credit cards). If the deal happens to fall apart, you will still have cash advance fees and per diem charges on your credit cards. I like using CrossLink Funding to provide my cash. If the deal falls apart; you pay nothing.
if you have a high enough cash adv limit, why not?
Need cash for escrow.
Try transactional funding if you are flipping to an end buyer.
Let me know if you have any questions about the procedure
Best regards,
Darlene
Yes, I would like more details. Please elaborate.
Thanks,
Ryan
I have found transactional fund to be quite expensive 2-9% (for larger deals) and the providers to be "shady".
I too would be interested in finding a reliable source.
Please tell us more.[ Edited by cjmazur on Date 01/23/2009 ]
I would choose not to risk my own money (credit cards). If the deal happens to fall apart, you will still have cash advance fees and per diem charges on your credit cards. I like using CrossLink Funding to provide my cash. If the deal falls apart; you pay nothing.
If you have a title company who knows what they are doing with a double close, it is no problem to find transactional funding at 1.5-2%.