Wholesalers Can Easily Become Short Sale Experts With Transaction Funding

Wholesalers Can Easily Become Short Sale Experts With Transaction Funding

Wholesalers are generally the on the front line when it comes to real estate investor leads. Wholesalers are usually advertising driven and as such motivated sellers often contact them first before contacting anyone else. With the prevailing Short Sale business out there it only makes sense for a wholesaler to expand there business into Wholesaling Short Sales.
As a wholesaler for the past 6+ years I always hated doing short sales. During the boom, banks just did not make it easy at all to complete a short sale. Today all that is different. The issue that arises is having money for back to back closings. Title companies do not want to have their business on the line anymore so you can make a quick $10,000+. That is where Transaction Funding comes in.
With the market drop that we have all experienced there are far fewer motivated sellers that have enough equity to qualify for straight up Wholesale deals.
The rise of the internet has put the information into more people’s hands creating more competition for wholesalers.
Short Sales are much easier to get bank approval on at this point. As a wholesaler you should monetize as many of your leads as possible. Short sales allows that to happen much easier now.
I passed on hundreds upon hundreds of leads over the years due to the fact that I didn’t want to deal with the banks. Today, with Transaction Funding, you are able to get beautiful properties at a huge discount with short sales.
The best way to make money on most properties is to assign the contract. With a short sale you have to close and then sell. Pretty much the same thing. The only difference is you have to actually have money to close the actual short sale.