OfflineI've sent out over a hundred letters this past week Probing for potential Investors. My question is when they answer and we start communicating,if they say they have a certain amount of money to invest say(100,000.00) how can I be certain they do. I would hate to find a house for them and then they say they couldn't afford it. It seems I would have wasted my time and as evrybody knows "Time is Money". Can anyone in the D.G. family help me with this question. Thanks JohnnyPVAZ ( The Old Man)
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to a closing agent (title company, lawyer escrow, etc.) subject to a closing. Tell them you'll pay them market rate until the house is closed upon, at which time you will pay the amount you have agreed to pay for the investment.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
Somewhere around the time you are thinking of showing them a deal, ask them for a Proof of Funds letter.
People in the business who are doing deals understand that is part of the process and they would expect to be asked.
Just as the offer you submit requires a POF, before you assign the deal, you want to see the assingee's POF.
How you position yourself to the investors has so much to do with how the process will progress. If you have a great deal, and bring confidence to the encounter, they will jump through the hoops that are necessary to get the deal from you.
Ask for a Proof of Funds. They will provide something. Letter from their bank, hard money letter they are closing with, etc.
Happy Investing!
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Take Action = Results!
If it is to be, it is up to me.
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MD Home Acquisitions LLC
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