Flipping: Getting Under Contract & Getting POF

[Anthony Becerra]

Hello good people!

My goal for this year is to flip my first property. I've read J Scott's Books on flipping and gone through the Youtube rabbit hole but I feel like I'm missing a piece. I have met some private investors that are interested in helping me with the funding of my flip, but I haven't found any properties yet. From my understanding, I need a Proof of Funds in order to get under contract. However, I'm assuming that my private investors won't agree to a POF unless they see the deal.

Should I have a conversation with my private investors and ask how much they would be willing to lend?

Or should I find a property first and hope that no one will get that property under contract right away?

Any advice is much appreciated. Thank you!!