May 2009 Newsletter
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
One day funding is the new simultaneous close….(yawn)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
 
 
Man, that sounds only slightly less boring than watching paint dry. 
 
But if you are trying to buy a property – whether a short sale, probate, or whatever – and sell to an end buyer on the same day, then listen up.   Ages ago, maybe 6-12 months ago, title companies would allow you to contract a property, find a buyer, and buy the property from the original seller using the end buyer’s funds to fund your purchase from the seller.
 
But everything is changing recently in the world of real estate investing.  And simultaneous closes are no exception.  Now the title companies are requiring the following:
 
Seller A sells to you, person B.  You must have your own funds to close or the title companies won’t insure title. 
 
Then you, person B, can turn around and seller to end buyer C, and of course end buyer C is typically using conventional owner occupied financing.
 
We can fund that with transactional funding, a one day source of funds to satisfy the title companies.  It costs less than typical hard money, and we provide 100% of the amount needed if you meet the criteria.  Find out how….
 
Your partner in profitable investing,
Ann Bellamy
Buy Now, LLC
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Quick Tip

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
 
Consider Cross Collateralization
If you need to borrow more than is normally warranted by the LTV, or don’t have enough cash to meet the needs of the lender, consider cross collateralizing another investment property. 
 
Cross collateralization is putting another property up as additional security.  Typically these are properties that already have a mortgage, so the lender accepts a second position on the additional property.
 
It shows you are in it to win it, won’t walk from the deal if it gets in trouble, and gives the lender a comfort level in the deal.  We may then be able to provide extra funding above what is typically provided, or perhaps it is enough to make the deal work, when it otherwise wouldn’t.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~