OfflineI think this is the hardest part, finding a source who can give you proof of funds. I think Dean's Academy should provide students who have paid to be in his coaching a proof of funds letter to go out and start making cash offers. This would make it alot easier to make offers and get past those initial roadblocks to success. It's a small road block, but to someone who is starting out who knows little about Real Estate, it can be a huge hurdle to overcome.
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Go to first page of site, upper left corner white box and type in either hard money or proof of funds, then hit enter. This will give you access to a ton of post on how to get pof letters...Jan
Hey Dj. I use http://besttransactionfunding.com/ for my proof of funds letter. I'm actually working on a deal right know which was possible with there letter. Hope this helps you out.
I had a deal on a REO that I went after. Had no money but found a friend to partner with. Our deal was to split the profit. I do the rehab work and my friend
put up the money. I found the property and did my homework before we looked at it , I got my friend excited and already went to the bank to get qualified for the loan. Bank provided the POF. I (We) moved guickly on it. If you can find a partner already with cash in the bank they will have proof of funds. Best to you, Steve
"" Steve Rocks Real Estate ""
-- Central New York --
You're correct Mario! The banks are starting to know about all those fake POF letters you can get. Finding a Private Investor is he best way, even if you don't use his money. Just to get the offer submitted on the REO's.
Jason S.
San Diego, CA.
**All CASH House Buyer!**
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Hey thanks for that, I just submitted it to my Realtor for the offer we have on a property. And Jason, thanks for the heads up on that. Right now I'm working on regular sale properties and I'm pulling back on fooling around with these REO's. I'll wait until the banks have no choice but to unload them. See you on Facebook Jason.
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