OfflineSo i found a rehab deal that i am most likely going to use hard money on. Haven't found a HML yet and I don't want to let this property get away. It is an REO and of course must show proof of funds for the bank to even look at the offer.
Is there anyway to get around this and get my offer submitted without showing proof of funds since i don't have a HML yet? I'm afraid that the property is going to get locked up while im searching!!
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I have found that nearly all mortgage brokers have hard money connections. If REO is advertised requiring proof of funding, you probably won't get around it. You will not know unless you ask.
Al
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I suggest you look for a private money source who would be willing to provide "proof of funds" for a fee. You won't acutally use their money for the purchase so you'll still need to have the HML or other mortgage source to close the deal.
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