INVEST IN PROPERTY THROUGH BROKERS & WHOLESALERS

We know that sometimes investors feel more comfortable working with brokers and wholesalers. With that said, First Funding Loans is happy to offer simple referral options for brokers and wholesalers to ensure that the hard money lending process goes smoothly. We are always working to make sure that the lender to borrower relationship is strong.

 

Some things to know as a broker or wholesaler

               ▪  Total fee should not exceed more than 20% of total purchase price

  ▪  Transparency – we need full chain of title from owner of record to borrower:

                           o  Wholesaler assigns contract to borrower - Need wholesaler contract and assignment agreement

                           o  Wholesaler sells entity that is in contract to borrower - Need wholesaler contract and share purchase agreement

                         o  Wholesaler double closing (A->Wholesaler->B) - Need contract from A->Wholesaler and contract Wholesaler->B

                ▪ Transaction should not ‘shock the conscience’