Hey all you real estate genuises!
I’m looking at an apartment complex to purchase (this would be a first) that seems to be a great deal. I contacted a broker to represent me in the purchase, and he requested that I send him proof of funds before he’ll submit offers, etc. I do understand that this will give me stregth in the buyer’s eyes, but I also don’t have the amount of money that would be required for the down payment. I know that I can get this amount from private lenders, but how do I even get a foot in the door when I cannot provide REAL proof of funds? Is there a trick to this? Is there a way around it? Please help, as I need to move on this ASAP!