I Don't Know How to Make Offers Quickly

[Bryan Dumesnil]

Hi everyone,

My wife and I have finally found a property that we would like to flip but I am having a hard time figuring out how to put in an offer quickly. Our realtor says that we need to have proof of funds in order to put in an offer. The asking price of the house is very inexpensive at $37,000.00. Although that is not much money, we do not have that amount in our bank accounts at this time. We plan on getting a construction loan to fund the flip but we don't want to go through all of the trouble of applying and getting a credit check on our credit history and then not be able to get the property due to not being able to act fast enough. I always hear on the podcast that as an investor you need to put in multiple offers, but I don't understand how someone can do that without having the proof of funds. I can pretty much guarantee that we would be able to get the loan as our credit history and credit scores are great but like I said, I do not want to apply for the loan if we can't get the property. Does anyone have any advice on getting through this process? Any help would be greatly appreciated!!

[Account Closed]

@Bryan Dumesnil I became my own "Hard Money Lender". 

• I called my bank and increased my credit card and cash advance limits to the max. - $30k
• Opened a checking line of credit - $5k
• Opened a HELOC - $100k
• Opened CCs at Home Depot and Lowes that offer 0% interest for certain purchases

I'll pay 13%-14% interest on that cash advanced (5.5% for the HELOC), but I won't pay it to a HML and won't pay any points. Hope this is helpful!