The Chicken or the Egg?

[Brenda Whittaker]

So we hear so much about rehab funding. I have always used cash for rehab but it's all tied up now. What I'm finding in my search for this gem I hear of, is that all lenders, private or otherwise, want me to have a deal under contract first and then I apply for the financing for it. So Im supposed to do all the work to get a deal under contract and then I might not even get the financing? My passion is buying bank owned REO's, and we all know that bank owned means you must have proof of funds to even make an offer. So, I have to have a contract before I can get proof of funds, but I have to have proof of funds before I can make an offer so I can get a contract. Can you guys please enlighten me on this. I will look at the other articles on this subject in the meantime, which I just noticed. !!