Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

40
Posts
0
Votes
Andrew Alexander
  • Real Estate Investor
  • Kalamazoo, MI
0
Votes |
40
Posts

Proof of Funds

Andrew Alexander
  • Real Estate Investor
  • Kalamazoo, MI
Posted

I am trying to get into preforeclosure/short sales investing but I don't have a big enough bank account to use as a "proof of funds" (usually one includes a proof of funds in his short sales packet that is submitted to lenders).

Does anyone have any suggestions as to fix this? I am looking to line up some private lenders and/or hard money lenders to fund my deals but it seems as if I'm in the midst of a catch 22. Correct me if I'm wrong but I need a deal worked out with the bank already in order to get a private or hard money lender to finance it. For proof of funds through a hard money or private lender I already need to have the funds secured... So it seems as if I need funding to get the deal and to get funding I need the deal...
Help?

Loading replies...