Proof Of Funds?

General Real Estate Investing
1

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!

Thanks!

2

Get your private lenders to show the realtor the money.

DB

3

Try other realtors.

Explain to the realtor exactly what you just explained to us. I find honesty is the best policy.

Do you have in writeing that these lenders have commited to lend to you? If you do you can show this as proof. If you don’t how can you be sure that you can actually get this money?

4

Thank you guys for the comments! I think us less experienced investors sometimes tend to over analyze things.