Question: Proof of Funds for Cash Offer

[Matt Inama]

Hi BP-ers!

I'm a rather new real estate investor in the Denver area and listened to the recent podcast where Paul Thompson (episode 283). This episode got me pumped up to start implementing Paul's "farming" method. As I've been skimming different MLS sites and emailing listing agents, I'm being asked for offers to be submitted "in writing with proof of funds." I do specify in my email that I'm offering an all cash price and can close in around 30 days. But obviously I currently have the funds since I'll be using a combination of hard money and private money for the deals. What are they really asking for when they ask for proof of funds on an all cash offer?

Thanks!

Matt

[Matt K.]

Originally posted by @Matt P.:

I send my bank account statement with my cash offer, account number redacted of course. In your situation if your approved through a hard money lender they should be able to get you something showing that. Good luck.

 FYI... if you've ever written a check........... it had your account number on it.