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Rafael Floresta
  • Investor
  • Philadelphia, PA
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348
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Short sale with hard money and proof of funds

Rafael Floresta
  • Investor
  • Philadelphia, PA
Posted May 27 2014, 15:22

I came across a short sale that can't be financed with conventional loans, due to the amount of repairs needed.

I currently don't have the cash needed to finance the deal personally, as my money is locked in another rehab. I am looking into hard money or private equity to make it work.

I have access to a friend with enough money to work as a private lender also have been approved by a hard money lender in the past.

The realtor said I need to provide a proof of funds. How do I do it? What is the best way to provide the documentation necessary?

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