OfflineHello,
I have seen many posts that allude to Coastal Funding as a source for Proof of Funds. I would like to know who has used this company to fund deals in California or for that matter anywhere recently.
As a RE Broker and a consumer my general rule of thumb is if the company I am doing business with does not have a phone number where I can reach them, then they don't strike me as being a reputable company, especially in light of what we are trying to do here and how important funding can be when you are trying to do deals.
My problem is that I have had several deals now and requested formal funding from Coastal and a return phone call. I have never heard back from them. If I can't get a return call how can I possibly trust them to fund my deals when the time comes.
Any help is greatly appreciated.
Thanks
I completely trust you, Nice find...Good stuff!I appreciate the information you have laid out here.Thanks for forwarding this useful information.
_________________
Florida Closing Cost
I understand what you are saying and I personally have not used them yet but I know of a few people, and a couple of them on this site, that have personally used them. They have had great success with coastal and say they will continue to use them.
Hi I have emailed coastal funding with specific questions and they have answered my questions, via email within 5 hours.
I have yet to use them.
What doesn't kill me,,makes me stronger!
I am trying to get my links all settled with all the information that I am receiving from the DG Forums and website. Which Coastal are you talking about for funding? Do you have a link? Is this the Coastal that you al have been talking about: http://www.coastalfinance.us/ ?
What other companies do you all use for funding?
Thank you,
OregonSNOB
Joseph
OregonSNOB
((S.N.O.B. = Society of Native Oregon Born.) This also works if you are from Ohio or Oklahoma.)
What other companies do you all use for funding?
Thank you,
OregonSNOB
Joseph
no, it's coastalfunding.com
Needs some serious motivation...Should i contact agents with short sales or the sellers themselves, Have the address but only agent's number.
Optimus, thank you for such a quick response. I will add them to my growing list of online resources for investing.
Thanks
Joe
OregonSNOB
((S.N.O.B. = Society of Native Oregon Born.) This also works if you are from Ohio or Oklahoma.)
Optimus,
The correct site is www.coastal-funding.com. At 800-262-6035. They are a legitamate company. They have provided me with a proof of funds letter. And they returned my phone calls everytime I have a question. Continued success.....Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
I was able to reach out to Eric at Coastal Funding. He's requesting that they be emailed because they are swamped with business. If you like I can email you his response. Which was within 1 hour. They are a great resource to have available! Send me a personal email with the request. Hope this helps.uch success..........Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
Lubertha is correct when she says the the correct site is "coastal-funding.com", it's not coastalfunding.com. That is an entirely different website altogether.
Bryant Slade
How do they work? Will they work with you if you don't have a job, but you do have a lump sum of money to get started in investing? What kinds of properties do they typically finance?
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
They basically fund your deals for back to back closings. If you have a deal and you have an end buyer but you have to do a back to back closing they will fund you the money to pay the seller then you pay them back when the buyer pays you.
This is a great resource to have in your corner! www.coastal-funding.com.
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
Which lending institutions (e.g. BoA, Well Fargo, etc) is not accepting Coastal-Funding's POF letter? I wanna save myself time and frustration of not bother dealing with those lenders that will reject POF letter from Coastal-Funding.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Thank you everyone for this excellent funding resource. I learned so much just by reading everyone's comments.
Violet
Since, this is only for back to back closings what is preventing the end buyer from going around you to get the house from the original seller? And since you don't have the house under contract for an assignment I'm curious how you are supposed to market the house to your buyers list. Can someone clarify this for me?
Success and Nothing Less!
You still have the house under contract. You just can't put and/or assigns on the contract.
oh okay, so I get the house under contract and then find a buyer before going ahead with the deal?
Success and Nothing Less!
first so you know what criteria they're looking for before going out and just locking up any deal.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Find your buyer first. Make sure they are a CASH buyer and find out what they are looking for. Cash buyers are just so much easier to work for and that way you don't have to worry about any kind of seasoning of title or anything like that!
Hi everyone! My question is when submitting offers using Coastal's POF letter, should I be generating a new letter w/ each offer, changing the address and the prequal amount each time? Or is it better to generalize the letter to work for any address with a prequal amount up to the price range I'm interested in, and submit the same letter w/ each offer? Thanks in advance folks!
When you don't have more, you have to create more. - Cre8mour
For each offer I submit, I also submit the POF's for that specific property. It may seem like a hassle, but if you want someone to take your bid/offer seriously then I would suggest putting a specific $$ figure in each POF's.
Bryant Slade
Can I make myself the End Buyer? If I can make myself the End Buyer, can I put the property in my Corporations name? How long do we have to find a End Buyer?
Thank you everyone for your information/help.
Am I putting the properties address that I am bidding on or my address? And is it the amount of the property That I want? Also you don't need this when you are dealing with FSBO's do you and preforeclosures do you?
you never know until you find out...
Am I putting the properties address that I am bidding on or my address? And is it the amount of the property That I want? Also you don't need this when you are dealing with FSBO's do you and preforeclosures do you?
you never know until you find out...
you are putting the properties address...not yours
you put any amount you want...I would put the amount the property is, or go 500-1000 more...If you go to high, they may ask more...
FSBO - you don't need one...you don't need one everytime you put an offer in either...more depends on the seller...
preforclosures - again, depends on the seller or if short sale, most cases the bank will want proof of funds
~TAKE ACTION AND THINGS WILL HAPPEN~
***Something to Believe In***
"If you want something, GO GET IT...PERIOD" Will Smith
***"I CAN'T IS NOT A EXCUSE...IT JUST MEANS YOU WON'T"***
"Obstacles are those frightful things you see when you take your eyes off your goal" Henry Ford
~"Success doesn't come to you...You go to it" Marva Collins~
What is the fee for the use of POF letter from Coastal Funding. It is also important to know the advantages and disadvantages of using HML. This is to ensure that we are all informed about the process. Could anyone share some light on this. Thanks and God Bless.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
For the POF letter from coastal, its free...you fill it out and they send it to your email, and you can print it off...You can fill out as many as you want...I am sure after enough of them, they will contact you email wise and try to find out what you are using them for...but other than that, POF letter is free...
I don't know what there fee is to actually use there service, but from what I heard, it is steep...but at the same time, even if that is the case, and they are legit though, if it gets the job done, that is all that matters.
~TAKE ACTION AND THINGS WILL HAPPEN~
***Something to Believe In***
"If you want something, GO GET IT...PERIOD" Will Smith
***"I CAN'T IS NOT A EXCUSE...IT JUST MEANS YOU WON'T"***
"Obstacles are those frightful things you see when you take your eyes off your goal" Henry Ford
~"Success doesn't come to you...You go to it" Marva Collins~
Good to know, thanks Marc.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
not a problem...I know that if you can't get a proof of funds letter on your own cause credit is poor, or don't make enough according to the banks guidlines, or whatever reason, coastal can be a great source to get your proof of funds...
~TAKE ACTION AND THINGS WILL HAPPEN~
***Something to Believe In***
"If you want something, GO GET IT...PERIOD" Will Smith
***"I CAN'T IS NOT A EXCUSE...IT JUST MEANS YOU WON'T"***
"Obstacles are those frightful things you see when you take your eyes off your goal" Henry Ford
~"Success doesn't come to you...You go to it" Marva Collins~
Thanks everyone for info and the feedback.This site gets better & better each time I get on it! "WHAT BOX?"
Silverhound(WHAT BOX?)