How to buy reo with no money down

[Lawrence Moss]

I am on my first deal, I see a reo 3 bed /2bath in a great neighborhood for $6000. I know the house would sell quick for $50000,I will sell for $17000 to an investor I say wow. But I have no money. Is there a legal way of getting around "proof of funds" ? And how does that work with "double closeings"?

[Alnise O.]

There is no way to get around POF. Go to coastal-funding.com, or tempofunding.com or just do a search for POF for transactional funding under google.YOU MUST HAVE AN INVESTOR LINED UP THOUGH. Not to get the actual letter for POF but in order to get this project financed. Before you do all this do your research on the home. Get the comps! See what other homes have sold for in that area less than a few miles away. Find out how much repairs cost and what the After Repair Value (ARV) is.

To get details on "double closings" type this in the search and you will see all the postings that have details.

I wish you well, welcome to the forum.