I have a commercial deal that I’m working on in which I have everything in place. The only thing my investor/JV wants is POF of $1.4M. I don’t have to physically have this money but I have to have the ability to show it.
Now, when I say show, I don’t need signature rights on the account but I do need to have my name attached to the account(s) - like a custodial account. Many businesses charges upfront but we would prefer to pay this on the back end - double if necessary. Do you know of any businesses/high net worth individuals that offers this?
check out financial section of craigslist. Though many want to be paid front end to do paperwork. For them backend does not much in terms of getting paid
Aptbuyer,
You will not find anyone willing to put their money up as POF without being paid for it. The reason is they have been bitten by this kind of setup before. Let’s say you get the funds and prove them to the bank, then don’t go through with the loan? How do you pay for the POF then? Bite the bullett, pay the fee for the POF and close your deal. Offering double only makes you seem desperate to an investor in the real world.