Updated almost 6 years ago on . Most recent reply
Proof of funds/partner
Hey y'all. I found a property in a good location (with good appreciation). Comps are $230-$265. I'm looking at offering $167 (it's a REO). Conservative rehab estimates are $20k for rental ready, $30k to make it nicer. In order to write the offer, the realtor needs proof of funds (which we don't have). We are willing to find contractors, do some of the rehab and manage the property ourselves. Does anyone have any recommendations for getting a proof of funds letter? Or maybe three best way to go about this?
We're reaching out to our local investors group to seek out interest, but thought I'd pose this to Bigger Pockets at large.
It's our first property and we only have about $5k we can put up. It's a cash only deal.
Anyone have any ideas here?
Amy
Most Popular Reply
How much “sweat” experience do you have? Ever done a rehab?