Dough for a day, or transactional funding or flash funding is a single day loan that enables you to short sale or to flip transactions. This has recently gained a lot of popularity with the demands from the title companies. This allows the real estate investor to close to the end buyer simultaneously. As the Title companies no longer wish to conduct the dry closing or the simultaneous closings because of the deep scrutiny by the state and the federal regulators, the need of the Dough for a day has increased.
In a dry closing where you use the funds of the end buyer, say buyer C. so if you want C to fund the transaction between two parties E and F, where you are the person F. The title companies now wish that the investors should have their own funds on the closing table and the fund the entire transaction. They want that the first closing should be a stand alone transaction or at an arms length transaction. At times when you do not have cash, you begin to get worried.
There are not many options that you can go for. So here, when you do not have cash you might end up using the hard money which is not always a very good option. But if you use the hard money it might end you up in a loss. You will have to spend 8 percent of the price or even more that totally ruins the transaction. Here is a cheap, effective solution that also has logical explanation behind it. This could occur with a proof of the fund letters, with no income variation, you can have a 100% funded transaction that is you will not have to carry your own money to the closing table.
There are no credit checks and no appraisals involved. There is an easy approval and a vest set up between 24 to 48 hours. This is quick and therefore there is no wastage of time. And the best part is that even if the deal does not close, you owe a zero. Therefore you are always at a zero risk. The dough for a day [http://www.ivisionaryfinancial.com/] offer is much cheaper that hard money and more profitable as well even if you do not close the deals. This is because you are at zero risk. You can use this offer innumerable times.