Updated almost 11 years ago on . Most recent reply
Multiple cash offers using same proof of funds
Hi all,
I am currently seeking all cash deals for fix and flips. I give multiple offers a week almost all on either REO'S or short sales. I have multiple potential cash partners who would invest with me on good deals. However, I only use one of them to provide proof of funds for my offers which is only enough to fund one deal at a time. My question is once an offer gets accepted, can I use a different name (funding source) to go into contract. This can very easily be needed if either the original Proof of income source was already used on a different offer that was accepted and went into contract (remember, I use the same proof of funds for multiple offers) or if that investor doesn't want to finalize on this particular deal and I have one of my other investors who do want to come in on the deal.
So to summarize, do I need to use different proof of funds on every offer I give or can I go "shopping" using only one?