Difficulties with Proof of Funds Letter

[Jenny Tran]

Hi everyone,

New real estate investors here interested in fix/flipping properties. I attended an investment boot camp which helped us get a proof of funds letter, but I've had agents try to confirm that it is our funds when it's not exactly ours. I know there are websites that allow you to input your name and the amount of money you've been approved for and you can use hard money lenders to help with the closing, but is this a situation where you're supposed to "fake it until you make it"? We're new college grads and don't nearly have as much as the proof of funds letter states that we have, so I'm not entirely sure how to answer the agents who ask about our POFs. It's a little discouraging but I'm trying to not let it affect our ability to fix/flip properties. Any advice would be greatly appreciated, thank you! 

[Wayne Brooks]

Yeah, agents are onto this scam....I used to get a boatload of them with offers. 

A POF means a bank statement in Your name showing the minimum funds.