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So, in a hot market the seller will look first for a cash buyer with no financing contingency, second for a buyer with approved financing from a conventional lender, third from a buyer who has been qualified by a mortgage broker, and last, i at all from a buyer with a POF from a hard money lender.Of course not all sellers, or the brokers representing them are sophisticated, so if you make enough offers you WILL get some sellers that accept you POF letter.Just to show you how meaningless these POF letters from hard money lenders really are, about 8 years ago a number of lenders published a generic POF on their websites, and told potential borrowers to download the letters, fill in the blanks, and they had an instant proof of funds.  

Hello @Jasmine Batista, welcome to the site!

I'd love to connect with folks investing in San Diego or doing out of state investing.Cheers,Nicole Welcome to the site Nicole.

Is there a website or a resource that provides operating cost and rental income for multi family homes to help an out of state investor decide if this is a good area, and if the props are worth taking a deeper look at?

Who should I speak with on contract usage, do I need a lawyer involved, can I put everything thats being asked for on one contract, and what websites would I use to get clear info on if anything is owed on this property??

It is always best to include a website and a local phone number on the postcards as well to maximize your responses.

On sites like fiver for example... 5 dollars is the base price.

However, I would look into professional designations to supplement your degree.

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