when you have private investors who are willing to lend you money, and you are making offers on houses and banks want to see proof of funds do you just give them your private investors proof? i would think that that would be a hassle bugging your private investor on multiple properties, especially if your putting in really low offers that most wont get accepted
My PML has no problem providing me with a letter for proof of funds. Most of the houses I buy are under $60k so he has his bank manager draft a letter stating there is $60k in his account.
so everytime you are putting in different offers do you just have them draft one for each of the values of the house or do you just get one draft saying that he has x amount in his account and just use that for each offer?
I use the same letter for all offers. I do have to change address on the letter (with his permission) for every offer I make. White out works great :smile