Proo0f of Funds Letter

of funds form and they will email it to you in a matter of a few minutes. it's totally free best transactional funding is happy to do this for we investors because they want us to come to them for transactional funding. so if you want to call them feel free. the guys name that usually answers is august he is very nice and he will help you.

hope this helps and let us know how it goes

walt

Gary,
Like Walt said, go to http://www.besttransactionfunding.com
I have used them multiple times even with Bank owned properties and have never had a problem. they will email you the Proof of funds letter and you just give that to your agent.
Good luck.

Hiwaystar,
As Aaron and Kevin mentioned besttransactionfunding is a wonderful one that I have been using a lot. And do not panic!! Take one day at a time! Look where you are going, and focus there!! You will do just fine!!

sean terry has http://velocitycapitalfund.com/ proof of funds right on the front page. I filled it out and before I could click back over to my email it was there. Looks more professional and legit than best transactional fundings.

WALT

Hey Natchez, thanks for the tip, it is a good looking POF, I want to flip some REO's & this is a necessity.
What you working on? Any news from Mississippi?
How many deals have you completed?
Rando

When you are making a lot of offers to owners or through your Realtor you want to use a POF that's not your personal info, that's just to much info they don't need but if offer is accepted mainly for banks with foreclosures then you can give them one from your bank or your partners bank.

A rental I have was a foreclosure that I used my banks POF with my offer because two other people put offers in also and it worked I got the house.

I cant say on a wholesale deal if it matters or not with an owner because I haven't done any wholesale deals I have only done rehabs, buy and holds. Working on getting some wholesale deals!

Good info guys

Aaron

Thanks Walt,
Will keep that link for the next POF I need. I am part of Sean's network also but didn't know about that one. thanks for the tip.

you are the man! really cool I just filled it out too & it looks pretty good. will have as reserve thanks dude. Yea man keep pushing man you are close I know for a deal, I heard you recieved some really good training so I know we will be hearing from you soon on deals huh.

it would awesome to see you at the edge too! thx again.

thank you guys for helping me . I went to velocity capitalfund and I got my proof of funds letter. Now all I have to do is show this to my Real Estate agent and I can sign a contract with partners approval ?
May 2016 bring us all what we want !

yea you want to include in the additional terms & conditions "Subject to partners approval" and also be honest with your agent and hopefully you picked an agent that was professional & eager to work with you.

but ask them to sit down with you and explain the contract to you, they will go thru each line & you will be educated about it & feel confident that now you know the realtor contract for that area. each area in the country is a little diffrent but eseentially the same.

it is their job to do that btw & just be honest & tell them you are new & starting out but that you work with a group of partners & are new ok. you truly are, you are the property acquisition side of the business & your partners are the one's that fix & flip the prop or rent it out & you make your money tell your agent by being the partner that finds the deals & locks them up under contract(make sure you have buyers ok before you start making offers alright:)

now go get em, oh and also include and/or assigns after your purchaser name whatever that is, just your legal name or a co. name.

Thanks Tony, I have to see my agent tomorrow to discuss business."Subject to partners approval" is always part of the contract,thank you I will tell him I'm new , and see if I can get him to work with me. My only problem is I'm on Long Island, NY and a lot of the properties that are for sale , there is not much room for profit unless you assign properties and make $2k-$3k hopefully.I don't see any bandit signs around me ,so it makes me wonder if there's a law against it here. All I can do is put them out and see what happens.

Thanks, Gary

Hello everyone, does anyone know who does investment property financing on manufactured homes, specifically North Carolina? I'm trying to help out my kids and grandkids...thanks

How can I find out the bandit sign laws in my area ?

I have heard it suggested to just go for it. Put them out and avoid attaching to any municipal property such as Telephone poles. If the local authorities have an issue they will call you. Then just tell them sorry, you didn't know and take down the sign in the location they called you about.

Our signs are like any garage/yard sale signs, if you notice they are on the week ends and if you put them out fri night pickem up sun night you should be good. The bandit sign police even when they are not working will see your sign, they don't want them turning into trash on the side of the road, they see you take care of them they most likely will not say anything.
I put mine on poles and empty lots for over a year now and haven't had any problems with the city, just pickem up.

Aaron

Careful with clause-- I had them hand me a phone and said CALL PARTNER Now.

The 'and or assigns clause' is always there.

Thanks for the advise guys, I will put them out on Friday night and pick them up on Sunday night. I have a google number with a message so I can track where the most calls will come from.
____________________

Gary

Wow - hadn't thought of that Mike, What did you do?
Was thinking I really liked that option to put in the contract, but haven't used it yet myself. I have needed to get out of a contract and I had the inspection contingency, so thats what I used.

If you're married call your wife.

Hi Gary - congrats for taking action! Just curious how the meeting with the RE agent went? Were you able to get the property under contract?

Thanks,
- Tom

The owner of the property just put it off till Monday, we have an appointment to see it then, The house is for sale for $350K , I already offered $310, but they still want me to see it. If they are as motivated as they say , we might have a deal, I don't want to go any higher, the property is on a block that has the front of a manufacturing company building right opposite it, a lot of trucks on the weekdays. This is one of the factors for my offer and the kitchen needs updating.
Just looking to assign it and make $2000 to $5000 .

Wish me luck!
Gary

Great to hear and good luck Gary!

- Tom

$350k ? wow, what's it worth (ARV) and rehab costs? thats the most valuable thing to know is what is it really worth.
good luck

That's difficult for me to comprehend. 350K for a house with big trucks and a manufacturing plant across the street and needs the kitchen updated.
In my area, Central California, 350K will get you a 2400 SF mansion on a 1/4 acre in the best part of town, it will a have pool, 3 car garage, granite counter tops 4 bedrooms, gorgeous landscaping, tile roof and a view of the sierras.
Of course, in San Fran that will get you a studio apartment on skid row.

Aha, just looked you up Gary - assuming this is a property near you in NY, $350,000 is not so surprising.
Best of luck

In my area it's not as easy to get a home owner to negotiate from their price , but if it's in pretty much move in condition , which this one is , I might be able to get another investor to bite. It has an ARV of $390k - $ 420k . If I can get it for $300K there will be room for a win win for every one.
I'm looking at another property in Long Beach , NY that is an estate sale . It's in the process of rehab, new insulation, sheet rock , electrical,CAC, all that needs to be done is a full kitchen, and two bathrooms, and some hardwood flooring . This house was flooded by Sandy and the work that has been done to it so far, is a great start for someone looking to make a good investment. The asking price is $306 , and I no it's Negotiable , the ARV can be as high as $425.
I think this is my diamond in the rough, I will make an offer of $245k and see if they counter offer.

" I'm in it to win
_________Gary

I just got news that the Long Beach house was reduced to $ 288 ! It's looking better all the time.

I just heard my offer for $245k was accepted for the LB house, now all I have to do is get an inspection and if every thing goes to plan , I can either fix it up myself, wood floors a nice kitchen and 1.5 baths and sell it for a great profit or get another investor to buy it and make $5k - $10k
anyone interested I have all the info.

--positive thoughts reap positive results --
__________ Gary

i wish ya the best man.... get it to the closing table get that check and on to the next one... whooopee

Hello Everyone, I am doing the 30 day challenge and would like to thank Natchez for the info at the top about www.besttransactionfunding.com

Enjoy!
^__^