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Updated over 3 years ago on . Most recent reply

Eric Davenport's profile image
Eric Davenport's profile image
Eric Davenport
  • from Taylor Mill, Kentucky
  • Member since Oct 21, 2017
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Eric Davenport's profile image
Eric Davenport's profile image
Eric Davenport
  • from Taylor Mill, Kentucky
  • Member since Oct 21, 2017
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Eric Davenport
  • Taylor Mill, KY
16
Votes |
45
Posts
Buying & Selling Real Estate

How to provide proof of funds with private money

Eric Davenport
  • Taylor Mill, KY
Posted

Hello, I plan on using private money to fund a BRRRR in the form of cash not HELOC or another type of loan. What is the best way to provide proof of funds that this person is lending us the money in order to place a bid on an auction?

Thank you!

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Caroline Gerardo's profile image
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Caroline Gerardo
  • Lender
  • from Laguna Niguel, CA
  • Member since Mar 2, 2015
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Caroline Gerardo's profile image
Caroline Gerardo's profile image
Caroline Gerardo
  • Lender
  • from Laguna Niguel, CA
  • Member since Mar 2, 2015
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Caroline Gerardo
  • Lender
  • Laguna Niguel, CA
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Caroline Gerardo
  • Lender
  • Laguna Niguel, CA
Replied

You need to show cash as in a checking account for them to believe you. If it's in a HELOC my assumption is the auction will require them to transfer into a checking account.

lol

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