Looking for private lender for cash only properties
Hi there, I've been investing in real estate for over 10 years and have been quite successful, but mostly rehabbing and then landlording. I've recently started flipping houses and love it. I'm in the middle of a flip right now that will net >$100K. Other properties are coming up but they want cash only buyers. In order to compete, I need to offer cash only and show proof of funds in my bank account as part of my offer submission. Any suggestions on how to do this? An example is a property listed at $650K, total fixer, but the comps are anywhere from $1M - $1.2M once renovated. It needed around $200K - $250K of work, so the potential profits were tremendous. I went in with an offer of $720K, but because I wasn't all cash they passed me up. I need a lender that is willing to wire the funds immediately to show proof of funds so I can get these deals. All my money is tied up in the current flip I'm doing. Looking for any advice. Thanks!