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Updated about 8 years ago,

User Stats

38
Posts
3
Votes
Kevin Dee
  • Investor
  • Great Neck, NY
3
Votes |
38
Posts

BRRRR Method and proving cash accounts to seller

Kevin Dee
  • Investor
  • Great Neck, NY
Posted

Hello! 

Quick question from a first timer in BRRRRr. It is fair to say that I'll be making an all cash offer if I'm going to utilizing my HELOC funds? The seller's broker needs proof of bank accounts. Let's say I have a $250k line of credit ready to be used. Do I need to transfer or write myself a check for that amount and deposit it into my checking account? Or will it be understood to the seller than I'll be using a HELOC to pay for everything and that should feel like cash to them?

Thanks in advance!
Kevin

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