Birdog Adventures

[Raphael Thomas]

Hi BP 

I need some advice on getting pass a current wall I ran into. So i went to a meetup event and networked with many investors. Alot are cash buyers and willing to get property from MLS and also off market deals. I connected with 2 agents in my area Bloomfield, NJ my problem is that the properties that are listed with them they will want me/ my investors to provide proof of funds to close whenever you make an all cash offer. How should i explain this to my investors after i get it under contract. This will be my first time getting a deal on contract just want to make sure i do it correctly any advice BP ?????

[Adilah Curry]

If you're working with Investors & cash buyers, POF is something they're used to providing. It's customary with cash deals (and others) ... I would simply have a standard email or letter requesting Proof of Funds to be submitted. No need to beat around the bush or sugar coat it. It's really a normal request. They'd probably be suspicious if you didn't ask for proof of funds...lol.

If you want, you could be less formal & simply ask over the phone that they submit Proof Of Funds. Make sure they they have any sensitive or confidential information blacked out. Many times they'll just get a POF letter from their financial institution.

You could simply say that "the seller is requesting Proof of Funds, could you send that over at your earliest convenience? My Fax # is.... My email address is...." (some people are leary about sending sensitive information via email. Which you could get a secured & encrypted email account through Tutanota, Hushmail, or several others).