All Forum Posts by: Solomon Bluzenstein

I use cash partners to invest in fix and flips and my leads are mostly bank owned properties (Freddie Mac, home steps etc). 

If an offer gets accepted by one of the banks, but the investor who's name I used to show proof of funds for the offer pulls out of the deal, do I need to drop the deal completely or is there a way that I can transfer the deal to a different investor to go into contract with the excepted offer? 

I know that it's almost impossible to find a good deal in NYC at the auction (I live in Brooklyn). However, I'm looking for fix and flip deals in Nassau county and am wondering what the situation is at the auction there.

Thanks Nazz!

My offers are usually to banks including homeopath. Is there anything I can do after an offer has been accepted if the partner who gave me proof of funds wants to back out and I want to use someone else for this deal?

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?