Have questions about Fund-A-Flip?
To read the answer to a specific question, simply click on the question.
NO! We do NOT have any type of credit or income requirements associated with our program! Unlike others, we do NOT base fees or approval on your background or current financial situation. Everyone qualifies for funding! It’s the deal that counts.
Yes! If you need a referral, we have a vast network of closing agents that we have worked with previously, to help close your transactions. By using our preferred partners, your deals will close faster and with ease! Sure, you can still choose your own closing agent; whether that is a title company, closing attorney, or other escrow agent. We will verify their credentials prior to closing. Regardless of whom you choose, we will be here to work with them to ensure a smooth and seamless closing.
In many cases, the bank will mandate a closing agent to facilitate your purchase. Generally, these closing agents are under contract with said bank and are limited in their capacity to conduct simultaneous closings. In this situation, we suggest utilizing a second closing agent for your resale transaction with your end buyer. It does take slightly more coordination, but in the end, it gets the job done!
We provide transactional funding to accommodate all of your wholesale (flip) needs and from time to time our funds are out for more than one day! You have to have a committed buyer lined up though, and the deal needs to make sense. Then if it takes more than a day, we will likely be okay with it. Keep in mind that this is not hard money. If you're looking to do a rehab, or close now and find a buyer later, that's simply not what we do.
Yes, our verifiable proof of funds letters are ACCEPTED EVERYWHERE. Our verifiable proof of funds letters are provided on official letterhead including my contact info. So, on the occasion when an agent or bank representative requests a Verification of Deposit, or VOD, in the form of a bank statement, we will be happy to send it on your behalf. When faced with this, just ask them to call, or better yet, send an email to the address on the POF letter, and we’ll get it to them without delay. We always respond expeditiously to support you so that you can do more deals that need my funding. We want to fund your deals. That’s why we’re willing to send a copy of our bank statement (with the account numbers crossed out of course) to a complete stranger. So, we’ve got your back!
We have two options. In either case, the letter will be generated in your name, your entity’s name, or both. If you desire a property specific letter, please be ready to provide the address information for your subject property and amount required. For a blanket letter, only an amount required is necessary.
You are able to generate your own verifiable proof of funds Letters on demand at anytime from anywhere in the world where you have internet access. Once you’re part of our program, you will have IMMEDIATE access to verifiable proof of funds via a unique personal account created just for you! There is no submitting a request and waiting for a response. Simply log in to create all you need.
One of the things we're able to offer, and quite honestly BOAST about, is the fact that on any same or next day transactions, there are NO FUNDING FEES! That's right... no application fees, no points, no wire fees, no administrative fees...WE WAIVE THOSE FOR YOU! There are no minimum requirements on the amount we will fund, either.
Yes, you may request any amount necessary to cover your closing costs and any other fees associated with your transaction. This helps to limit your out of pocket expenses.
We will fund amounts up to $600,000 per transaction. There is absolutely no limitation on the number of deals we will do for you. If you can flip it, we will fund it!
Please feel free to contact our Funding Team directly for assistance. We are more than happy to work with the title company in facilitating your closing.
No problem! Whether your buyer is financed through FHA or a conventional lender, as long as they are pre-approved with credit and income verified, we will be happy to fund your deal.
Provide us with your basic contact information to confirm your membership status and, upon verification, we will provide the forms required for closing.
To find out more information about buying and selling REO’s, check out this amazing free training by Cameron Dunlap on using REI Trifecta to do more deals in less time.
No, not only is a bad idea to do deals in your name (from a legal and asset protection standpoint), but our policy is that we only fund deals that are in the name of an entity.
Funds are wired from our funding entity, which is registered as Finger Lakes Funding, Inc.
If you have any further questions, please feel free to contact us!