Quick Feedback: Idea for Faster Proof of Funds Letters

[Michael Lazarus]

Hey guys,

I'm thinking about building something to help flippers get faster Proof of Funds letters.

But i need some feedback..

Imagine this scenerio...: 

You spot a great deal on Zillow. You need to move fast.
You want to make an offer, but you'll need a Proof of Funds letter:
- Banks could take weeks.
- Hard money lenders can mean forms and waiting. the whole deal could slip away.

So, my main question for you guys: How much of a roadblock is this Proof of Funds delay in your experience?

The Basic Idea I'm Exploring: A simple Chrome extension that activates when you're on a Zillow listing:

• You see a deal on Zillow you want to move on fast. But you'll need Proof of Funds.
• You click a button and all the details are shot over to a lender.
• The lender emails you a Proof of Funds letter same day.
• The lender would require a one-time $250 deposit for the first POF (100% refunded if you fund a deal with them).
• After that, any future POF letters you request via the extension would be free.
• (It could also give a quick funding estimate.)

What are your honest first impressions?
Would this actually be useful or am I overthinking the POF problem?
Honest (and even mean) feedback would be super helpful. thanks!

[Jeff S.]

I know it’s hyperbole, but perhaps lines like “Banks could take weeks” and “Hard money lenders can mean forms and waiting” exist because they actually care whether you're qualified—before they indicate they’ll lend you money or let you mislead sellers into thinking you're legitimate, under their name.

If someone is truly qualified with the lenders behind your Chrome extension, why wouldn't they just pick up the phone, request a POF letter and a real bank statement, and skip the $250 junk fee? If your extension hands out POF letters to just anyone—qualified or not—then let's call it what it is: a scam.

Websites offering these kinds of “proof” letters are a dime a dozen online, usually with no verifiable bank statement and zero credibility. It’s the kind of thing no serious professional should be associated with.