Funding Short Sale With Credit Card?

I am wondering if there is a way to fund the first transaction in a double close with a few credit cards?



Ryan

Comments(6)

  • cjmazur18th January, 2009

    if you have a high enough cash adv limit, why not?

    Need cash for escrow.

  • jdinvestors22nd January, 2009

    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

  • Emersonbiggins22nd January, 2009

    Yes, I would like more details. Please elaborate.

    Thanks,

    Ryan

  • cjmazur22nd January, 2009

    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 ]

  • ImajProp8th September, 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.

  • eric319th October, 2009

    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%.

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