Do you want to get a proof of funds letter from hard money investors in order to close the deals? Well… don’t worry. It’s easy to get a proof of funds letter from the right hard money investors.
Now, as you drive around with your big cowboy hat on and you are talking about buying properties to banks or other lenders, there is going to come a time when a seller, whether it’s a bank, an asset manager, or a private seller, is going to say, “You’ve got a pretty big hat there, cowboy. Let’s see if you got any cattle. Take me back to the ranch; I want to see what you’ve got so I can make sure you have the cash to close on this deal.”
When that situation happens, there’s no need to panic. All you need to do is get a proof of funds letter. As hard money investors ourselves, we have a proof of funds letter that you can download instantaneously. It probably takes about 10 or 15 seconds.
You just put in the property address, your information, the amount of your purchase, and how much you think the property is worth. Then, simply certify that you understand the parameters—for instance, our loans are for single family non-owner occupied homes under $250,000, in certain areas of the country, all of which can be found on the website, and just click your acceptance and compliance with our guidelines. As soon as you click the button, it brings up a proof of funds letter.
Your personalized proof of funds letter is typed up and signed in a PDF document from our portfolio manager. It states says that we have set aside the funds for your transaction, and once your transaction goes under contract, we will send our team out and provide funding within a short time frame. We are one of the best hard money investors who are always willing to help you with what you need.
You can download as many of these as you want, as many times as you want, at any time of the day or night, and from any country anywhere. You could even be on vacation. Wherever you are, you can take off that big hat and show people your cattle, because if you have a good deal you can get the money to back it up. As hard money investors, we are always there to help you.
What happens when you download that proof of funds letter? It actually logs into our computer system and records that you have proof of funds for that property. The seller can call our office and say, “I am calling you about Bob. He made an offer on my property, and he gave me this proof of funds letter. You know, he wears a really big hat; he gave us this paper that looks pretty legitimate, but I am just wondering; does he really have cattle?” We put the name into our computer system and pull up your proof of funds. We look at address and tell the seller that we have funds set aside for this transaction. Once it goes under contract, we only need to send our evaluators out there, and we can finalize. Does this proof of funds guarantee that you can get the financing? No. It says we have funds set aside ready to finance, as long as everything meets our criteria and as long as it is a good deal. That’s how all the hard money investors work.
Again, the key to being a successful real estate investor is to focus on finding good deals. Find good deals, and the money will come from hard money investors. When the wheels of your deal start turning, we are able to verify that we’ve got funds set aside and that we are ready to go. We tell the seller calling to hurry and put the property under contract so we can get our evaluations complete and get the property closed and funded.
We can show that you have the cattle sitting at home, and you can really perform on your proposal. Your offer will look pretty good in the seller’s stack of offers with when you have proof of funds.
You are going to have to talk to lot of people and work with lot of banks to get offers accepted, but, again, you can get more money than you could ever handle. The first step is finding a good deal. As hard money investors, we will always be ready to fund you if you meet our requirement.