What do I do need $125k in 24 hours

[Andy Choi]

Hey guys, I signed my first deal in Los Angeles the house is under contract and have my hard money lender preparing loan doc's but I need to show proof of funds in my business account of 125k. It's a 2bed 1bath purchasing 330k, 75k in repairs ARV 520k hold time 2 months for rehab 2 months to sell. I have 35k in the bank and short 90k and need to come up with 90k to make this happen and close on the property. What do I do ? I'm tripping out right now. Gonna show and wear my dress shirt today in case I might meet someone. I hear about bridge loans is that a possibility ? Any know if they do very quick approvals ?

[Wayne Brooks]

Well, forgetting about the need for the POF for your lender right now, where were you planning on coming up with the Actual $125k for the down payment and rehab? Another reason when on the seller side, we ask for the POF for the down payment when HML is being used by the buyer.