How are you guys Funding the Double close flip??
Interim financing for as low as 2 points. There are several companies out there offering it.
I plan on using them for my next closing to give them a shot. I have heard good things. The other company I was using for the past few months charged 2 points as well but they had a minimum charge of $2500 which I didn’t like. Even if you borrowed 50k, you still had to pay $2500.
I emailed Coastal the other day and they were very receptive and provided the required docs right away. I am going to give them a shot.
I’ve used the $2,500 company, pricey but hey they close and always have the funds. Tripping over dollars to pick up nickels is not a good business model by the way. I know them and actually it’s $2795 on my last deal but I made 28K plus after fee., and wouldn’t have made any otherwise. I went with the lower one before and they were out of money when I called, almost screwed up my deal except for other company. You guyz are making good money, only at the price of others making theirs. If that wasn’t so, you wouldn’t be making any in double closings.