OfflineHi everyone, i just wanted to say you guys are a God send! I absolutely love this forum...Im learning tons of valuable information here.
Im fairly new to the different strategies used on here for real estate investing. I wondered how are you guys putting offers on REO homes? doesn't the bank want to see proof of funds, & and earnest monies deposit prior to putting the offer in? Please someone clarify this up for me.. Im a little confused. Thank you so much!
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Yes, you must have POF and a copy of a check attached to the offer. A photo copy of the check is good enough. You can get POF letters from Tailwind Funding at http://cashformyclosing.com/proof-of-funds/
Anyone else reading this, have you been using any Letter of Intent's to streamline the initial offer stage? I have heard of these working but not sure what types of properties this will work on ie REO, Short Sale etc.
Good Luck
Greg
www.reepllc.net
www.HellaDealsOnline.com
Keep your chin up and KEEP PUNCH'IN!
Thank you so much for responding. I'll check them out!! Thank you
You can state it is private money. Have the private money lender submit a letter that they will be funding the deal. Done Deal
Harry F. D'Elia III
REALTOR
Omg! Your so smart!! Any suggestions on where to find a private money lender? Thank you so much.