Hi Everyone! I am a new Pro Member finally made the leap to jump start my real estate investing business. I am so excited to through this journey and see my transformation.
My question is where is a good website or company that I can go to get proof of funds? I have submitted a handful of deals already and I think this is the reason why my deals don't make it past the Intent to Purchase. I have been using www.besttransactionfunding.com to provide proof of funds upon request. The letter is generic at best so I feel that the Sellers may not take me seriously.
Any help you can give me would be greatly appreciated. Thanks.
Unless you actually have the funds, a generic POF may be the best you can get. Unfortunately a handful of offers isn't going to get you very far right now. You will need to submit dozens and sometimes hundreds of offers, depending on the market you're in, before getting a good deal.
Thank you Nick I appreciate the feed back. The submissions continue. My goal every week is submit at least 10 deals. So far I am achieving it. Just wasn't sure if it was the POF template that I was using that was sending the wrong message or not.
@Adrienne Vesey Are you saying that you have funds and having a hard time proving it?
Hi @Adrienne Vesey ,
Are they also asking for an Earnest Money Deposit (EMD)? I've found that most Realtors will also like the EMD to ensure you are serious. I hope this helps.
Maybe go to your bank to get one . If you dont have the money and you are bluffing , when that bluff gets called , you wont like the outcome
@Bob I was directed by a mentor to use this proof of funds website to get the conversation started with the Seller.