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Transactional Funding

Free Proof of Funds And Proof of Funds Letters

by Jarad 21 Comments

Free Proof of Funds Letters

Proof of Funds LetterAs you invest in real estate, one of the many things you will come across is proof of funds. This is just one of those pieces you need especially when you are doing any sort of quick flip where a bank is involved. The banks whole purpose in requiring proof of funds is to make sure you, as the investor, actually have the money to close your side of the transaction. They just want to make sure you are a legitimate player.

Can you blame them? What would you do if you were selling a property and you had two offers come in – one that would pay all cash, close on the date of your choice and backed it up with a bank statement, or one that needed to get conventional financing with no proof of funds letter? It’s obvious which offer you’d accept even if it was a lower offer. [Read more…] about Free Proof of Funds And Proof of Funds Letters

Filed Under: Proof of Funds, Transactional Funding Tagged With: free proof of funds, proof of funds, proof of funds letter, transactional funding

Transactional Funding

by Jarad 2 Comments

Challenges With Real Estate Investing

Transactional FundingA few months ago, I surveyed my list asking them about the challenges they were having with investing in real estate. One of the biggest challenges they were facing was that they didn’t know where to get the money to fund their deals once they found a great deal.

So I want to talk briefly about transactional funding and some other ways to get funding for your deals. [Read more…] about Transactional Funding

Filed Under: Hard Money Lenders, Transactional Funding Tagged With: funding for real estate, hard money lenders, private money lenders, transactional funding

What questions to ask a hard money lender?

by Jarad 1 Comment

I recently lost a deal due to lack of funding. The house wasn’t on the market yet but the owner had already moved out. While trying to find her, two days later, the property hit the MLS for a price of $21K. I couldn’t find a lender who’d do the loan. I don’t want this to happen again so I need to line up a hard money lender (hml) but what questions do I need to ask?

Also, is it unusual to need $5k before most hmls will fund a deal?

I’m in Missouri

Thanks,
StLInvestor

Filed Under: Hard Money Lenders, Transactional Funding Tagged With: hard money lending

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