General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
1031 Exchanges
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated over 11 years ago on . Most recent reply
![Jeff Bridges's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/102013/1694587887-avatar-cleaver29.jpg?twic=v1/output=image/cover=128x128&v=2)
LOI from Private Money for Proof of funds?
I am in the midst of orchestrating utilizing capital from partners and/or private money with notes to submit cash offers for properties. Do I have them create a letter of intent with a defined figure representing the money they are bringing to the table when I submit and offer? How does the bank usually respond to cash offers amongst partners or private money. Do they just need proof of funds from the lender account regardless of who is on the bid contract? I know its a sensitive issue to submit bank accounts and would like to get it sorted in advance.... Thanks!