{"id":71541,"date":"2021-05-18T21:30:00","date_gmt":"2021-05-19T03:30:00","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=71541"},"modified":"2023-03-29T02:36:29","modified_gmt":"2023-03-29T08:36:29","slug":"proof-of-funds","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/proof-of-funds","title":{"rendered":"Is Your Seller Requesting a Proof of Funds Letter&#8230; And You Don&#8217;t Have Any? Here&#8217;s What to Do"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC6735229937&#038;light=false\" width=\"100%\"><\/iframe>  \n\n\n\n\n<p>Being a syndicator can be tough. You&#8217;re often asked to make stuff happen\u2014but you may not have the funds to <em>actually<\/em> make stuff happen. And yet it still has to happen! What is a real estate investor to do?<\/p>\n\n\n\n<p>So when a broker tells you, \u201cThe seller will entertain your offer but only with proof of funds,\u201d you&#8217;re stumped. You don\u2019t have the funds because you\u2019re going to raise them and presumably have it all at closing. But sometimes it really helps to have the proof of funds. It makes your offer much stronger and it increases your chances of getting under contract.<\/p>\n\n\n\n<p>The proof of funds letter is useful for larger multifamily deals as well as single-family house deals. It\u2019s a key tool to getting deals under contract. In fact, CoGo Capital, a BiggerPockets partner, can get you an <a href=\"https:\/\/leearnoldsystem.com\/BiggerPOF\" class=\"rank-math-link\" target=\"_blank\" rel=\"noopener\">automated proof of funds letter<\/a> in under five minutes to help you close your next deal fast. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">What does \u201cproof of funds\u201d mean?<\/h2>\n\n\n\n<p>Proof of funds is essentially a document that verifies how much money a person has readily available.<\/p>\n\n\n\n<p>This money must be liquid, so it doesn\u2019t include retirement savings, life insurance, or other assets like real estate properties you own.<\/p>\n\n\n\n<p>Sellers might request proof of funds letters in order to guarantee you\u2019re a serious investor or to make sure the sale won\u2019t fall through because you can\u2019t pay the fees.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What does a proof of funds letter contain?<\/h2>\n\n\n\n<p>The <a href=\"https:\/\/leearnoldsystem.com\/BiggerPOF\" class=\"rank-math-link\" target=\"_blank\" rel=\"noopener\">proof of funds letter<\/a> is usually on the financial institution\u2019s letterhead, stating that their client has $x within the account and to contact them for any questions. It might also include a recent bank statement.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Proof of funds letter vs. pre-approval letter<\/h2>\n\n\n\n<p>A proof of funds letter details how much money you currently have. Often, it&#8217;s used to show that you can cover the down payment, closing costs, or any other inspection fees.<\/p>\n\n\n\n<p>A pre-approval letter describes the amount that a bank is willing to loan you to purchase the property.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3 ways to handle requests for proof of funds when you don\u2019t have any<\/h2>\n\n\n\n<p>But what if you don\u2019t have any funds to prove yet?<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. Push back<\/h3>\n\n\n\n<p>A request for proof of funds is a question of trust\u2014or rather a lack of it. If the seller knew for sure you were going to be able to close, they wouldn\u2019t ask you for this.<\/p>\n\n\n\n<p>The first thing you should do is to push back with something like this.<\/p>\n\n\n\n<p>\u201cI understand you\u2019re concerned about our ability to close since we will be raising the money. But I already have the verbal commitment from my investors for the money we\u2019ll need to do the deal. It\u2019ll be in the escrow account when we close, but I don\u2019t have it in a bank account right now. So I can\u2019t give you proof of funds.<\/p>\n\n\n\n<p>&#8220;But how about this? Why don\u2019t we get together and get to know each other? If you don\u2019t feel 100% comfortable with moving ahead with us, we\u2019ll part as friends. What do you say?\u201d<\/p>\n\n\n\n<p>If you\u2019re feeling gutsy, you could add, \u201cIf your seller insists on proof of funds, we\u2019re going to have to move on. I have another four deals I need to look at today.\u201d<\/p>\n\n\n\n<p>People do business with people they like and trust. The best way to build trust is with an in-person meeting with the broker and\/or seller. This gives you a chance to build rapport, tell them what you\u2019ve done and what you want to do, and share the team members you have around you.<\/p>\n\n\n\n<p>If you can\u2019t meet with the broker or seller in person, then you\u2019ll need to do it remotely with a phone call and email. If only email is possible, create a cover letter that provides an overview of your accomplishments and how you will be raising money to complete the deal. Include your bio and the investor package for this deal. Do the best you can to make the seller comfortable with moving forward with you.<\/p>\n\n\n\n<p>If the first tip fails and you still want to get into the deal, there are two more ways for you to potentially satisfy the seller\u2019s request.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. Demonstrate intent by your investors to invest<\/h3>\n\n\n\n<p>Another option, shy of an actual proof of funds, is letters of intent signed by each of the investors to indicate their interest and the amount they are considering investing. I\u2019ve done this with at least a couple of offers recently, in addition to a cover letter and bio, and it has satisfied the seller.<\/p>\n\n\n\n<p>For the investors, the letter of intent is not legally binding in any way, and it doesn\u2019t cost them anything to sign it. However, it adds significant credibility to your cause.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Get proof of funds from one of your investors<\/h3>\n\n\n\n<p>If the second tip doesn\u2019t satisfy this obstinate seller and you\u2019re intent on getting into the deal, there is yet a third option. And that is to get one of your investors to give you proof of funds.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How to get a proof of funds letter from one of your investors<\/h2>\n\n\n\n<p>If you can\u2019t produce the proof of funds yourself, you\u2019ll have to get it from someone else. That \u201csomeone else\u201d is going to be someone who has the necessary liquidity and likes you.<\/p>\n\n\n\n<p>Note that this person doesn\u2019t need to commit to investing with you. That may or may not happen. All that you need right now is a proof of funds letter from them. This is typically a letter from the person\u2019s financial institution that says they have $x with them. The letter does not obligate the person to use that money in any way.<\/p>\n\n\n\n<p>In other words, it doesn\u2019t cost or obligate them to anything.<\/p>\n\n\n\n<p>The only thing you need to do is find someone with the right net worth and ask them to help you.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. Create a sample deal package<\/h3>\n\n\n\n<p>A \u201csample deal package\u201d is an investor package representative of the kind of deal you want to do. Everything is real (the photos, financials, etc.); the only difference is that you don\u2019t actually have it under contract.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. Reach out to people who can help you get a proof of funds letter<\/h3>\n\n\n\n<p>Create a mind map of everyone you know. Create circles for every social group you\u2019re part of\u2014neighbors, friends, family, co-workers, religious organizations, sports, clubs, etc. Then, in each circle, write down the names of people you know. This is your immediate sphere of influence, which contains people who already know you and presumably trust and like you.<\/p>\n\n\n\n<p>Then email those contacts.<\/p>\n\n\n\n<p>Your goal is to get a series of yeses from people. So don\u2019t start out the email with, \u201cWill you give me a proof of funds letter, yes or no,\u201d but instead tell them in general terms what you\u2019re doing and ask if they would be willing to have a five-minute phone call to give you some feedback. Describe what you\u2019re doing and ask them if they would be willing to help.<\/p>\n\n\n\n<p>Their answer should be, \u201cYes, how can I help?\u201d<\/p>\n\n\n\n<p>That\u2019s when you tell them that you\u2019re looking for a proof of funds letter for $x, and do they know anyone?<\/p>\n\n\n\n<p>They might say that they could do it. Or perhaps they can refer you to someone they know well. Then follow up with any referrals you get and repeat the process.<\/p>\n\n\n\n<p>Remember these points:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Don\u2019t discriminate.<\/strong> Talk to everyone you know, whether you know they have the net worth or not. They might have it or they might not. They may be able to at least refer you to someone who might.<\/li>\n\n\n\n<li><strong>It\u2019s a numbers game. <\/strong>Realize that only a small number of people you talk to will have the net worth for the proof of funds letter, maybe not any of them. Don\u2019t be discouraged! Just get an agreement from your contact to help you, and then encourage them to refer you to someone else they know.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">3. Request a proof of funds letter<\/h3>\n\n\n\n<p>Once you\u2019ve found someone who might be able to do the proof of funds letter and is interested in helping you, schedule an in-person meeting with them. In that meeting, make the person comfortable with you by talking about your story and experience, what you\u2019re trying to do, and the team you\u2019ve built to help you. Use your sample deal package to talk about what a deal could look like, answer any questions, and address any objections.<\/p>\n\n\n\n<p>Then tell them what you\u2019d like them to do, which is ask their financial institution (bank, financial advisor, or brokerage) to write them a proof of funds letter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Should you include proof of funds in your next offer?<\/h2>\n\n\n\n<p><a href=\"https:\/\/leearnoldsystem.com\/BiggerPOF\" class=\"rank-math-link\" target=\"_blank\" rel=\"noopener\">The proof of funds letter<\/a> is a very simple yet powerful addition to your offer package.<\/p>\n\n\n\n<p>Simple, because it costs nothing to produce and doesn\u2019t obligate anyone to use the funds for the prospective deal. Powerful, because it makes your offer package look serious and sets you apart from many other buyers making offers.<\/p>\n\n\n\n<p>Is it easy to get? That depends on your personal network. If you already know high net worth individuals, it\u2019ll take you a couple of calls. If you don\u2019t, you\u2019re going to have to mobilize your sphere of influence to help you. But stick with it, and you shall have what you desire.<\/p>\n\n\n\n  <div id=\"posts_lists-block_608885b769a46\" class=\"  my-10\">\n    <div class=\"\">\n      <!-- Column One -->\n      <div>\n                  <h2 class=\"mt-0 mb-1 js-toc-ignore\">\n            More on real estate syndication          <\/h2>  \n                  \n        \n        \n        <div class=\"grid grid-cols-1 gap-y-4 lg:gap-y-7 mt-5\">\n          \n<article \n\tid=\"post-111664\" \n\tclass=\"content-card mb-0 flex flex-col  post-111664 post type-post status-publish format-standard has-post-thumbnail hentry category-retirement\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/apartment-syndication-passive-income-retire-early\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"163\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/10\/metric-evaluate-apartment.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"The Mega-Profit Potential of Apartment Syndication (Double Your Money!)\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/10\/metric-evaluate-apartment.jpg 702w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/10\/metric-evaluate-apartment-300x144.jpg 300w\" sizes=\"auto, (max-width: 340px) 100vw, 340px\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/personal-finance\/retirement\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">FIRE &amp; Retirement<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">4 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/286556.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2019-06-13T14:30:35-06:00\">Jun 13, 2019<\/time><time class=\"updated\" datetime=\"2024-02-20T16:03:43-07:00\">Feb 20, 2024<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/jaychang\" class=\"no-underline line-clamp-1\" target=\"_blank\">Jay Chang<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/apartment-syndication-passive-income-retire-early\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tThe Mega-Profit Potential of Apartment Syndication (Double Your Money!)\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">Investing in apartment value-add syndications is a great way to create passive income. 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class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/asset-classes\/commercial-real-estate-investing\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Commercial Real Estate Investing<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">4 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/214608.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2020-01-25T14:30:15-07:00\">Jan 25, 2020<\/time><time class=\"updated\" datetime=\"2021-03-16T14:58:06-06:00\">Mar 16, 2021<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/paulmoore\" class=\"no-underline line-clamp-1\" target=\"_blank\">Paul Moore<svg class=\"h-5 inline ml-2\" viewBox=\"0 0 21 21\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><g clip-path=\"url(#a)\"><path d=\"M19.253 5.25a1.75 1.75 0 0 0-1.663 2.29l-1.42.902a2.188 2.188 0 0 1-2.868-.46L11.91 6.28a1.73 1.73 0 0 0 .342-1.03 1.75 1.75 0 1 0-3.5 0c0 .37.12.732.34 1.03L7.701 7.982a2.188 2.188 0 0 1-2.868.46l-1.42-.903a1.75 1.75 0 1 0-1.816 1.203l1.035 6.205a.438.438 0 0 0 .43.366H17.94a.437.437 0 0 0 .431-.366l1.035-6.204a1.75 1.75 0 0 0-.153-3.494Z\" fill=\"#FFC107\"\/><path d=\"M10.502 17.064c4.108 0 7.438-.98 7.438-2.188 0-1.208-3.33-2.188-7.438-2.188-4.109 0-7.439.98-7.439 2.188 0 1.208 3.33 2.188 7.439 2.188Z\" fill=\"#FFA000\"\/><path d=\"M10.502 17.501c-3.915 0-7.877-.901-7.877-2.625s3.962-2.625 7.877-2.625c3.914 0 7.876.9 7.876 2.625 0 1.724-3.962 2.625-7.876 2.625Zm0-4.375c-4.597 0-7.001 1.137-7.001 1.75s2.404 1.75 7 1.75c4.597 0 7.002-1.138 7.002-1.75 0-.613-2.405-1.75-7.001-1.75Z\" fill=\"#FFD54F\"\/><\/g><defs><clipPath id=\"a\"><path fill=\"#fff\" d=\"M0 0h21v21H0z\"\/><\/clipPath><\/defs><\/svg><\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/5-myths-holding-raising-capital-real-estate-syndications\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\t5 Myths Holding You Back From Raising Capital for Real Estate Syndications\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">You want to get involved in real estate syndication deals, and raising capital is a crucial part of it. With so many moving parts, getting started is likely intimidating\u2014but some&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"121423\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-121423 -->\n<article \n\tid=\"post-118465\" \n\tclass=\"content-card mb-0 flex flex-col  post-118465 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate-investing-for-beginners\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/could-overlook-apartment-syndication\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"338\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/11\/syndication.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"What You Could Be Overlooking in Apartment Syndication\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/11\/syndication.jpg 830w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/11\/syndication-300x200.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2019\/11\/syndication-768x512.jpg 768w\" sizes=\"auto, (max-width: 338px) 100vw, 338px\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/real-estate-investing-for-beginners\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Investing For Beginners<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">2 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/65623.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2019-11-01T14:30:15-06:00\">Nov 01, 2019<\/time><time class=\"updated\" datetime=\"2021-03-16T14:56:46-06:00\">Mar 16, 2021<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/ashleywilson-3\" class=\"no-underline line-clamp-1\" target=\"_blank\">Ashley Wilson<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/could-overlook-apartment-syndication\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tWhat You Could Be Overlooking in Apartment Syndication\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">When it comes to syndication, it takes a team of highly qualified and motivated people to be successful. Make sure you&#8217;re making the most of your team, and not doing&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"118465\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-118465 -->\n<article \n\tid=\"post-103415\" \n\tclass=\"content-card mb-0 flex flex-col  post-103415 post type-post status-publish format-standard hentry category-commercial-real-estate-investing tag-multifamily-investing tag-raising-money tag-raising-money-for-deals tag-real-estate-syndications\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/ways-structure-syndication\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/asset-classes\/commercial-real-estate-investing\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Commercial Real Estate Investing<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">3 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/12140.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2018-11-01T14:30:38-06:00\">Nov 01, 2018<\/time><time class=\"updated\" datetime=\"2023-05-23T14:44:22-06:00\">May 23, 2023<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/sterlingwhite\" class=\"no-underline line-clamp-1\" target=\"_blank\">Sterling White<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/ways-structure-syndication\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\t7 Ways to Organize &#038; Structure a Real Estate Syndication\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">Real estate syndications are becoming more popular as investors seek to complete larger deals. Many want to step up to create their own syndications, but this can be overwhelming from&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"103415\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-103415 -->        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n\n  ","protected":false},"excerpt":{"rendered":"<p>The proof of funds letter is a very simple yet powerful addition to your offer package. Here&#8217;s how to obtain this letter\u2014even if your business is low on cash.<\/p>\n","protected":false},"author":1501,"featured_media":138036,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7119,5530],"tags":[7203,7222,7208,7228],"class_list":["post-71541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-daily","category-real-estate-financing","tag-buying-selling","tag-buying-selling-houses","tag-closing-process","tag-real-estate-comm"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/71541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/1501"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=71541"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/71541\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/138036"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=71541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=71541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=71541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}