Always use a company check and proof of funds in the form of a bank statement from the same account that the check was written from.

------ Danny Santos, Mentor and FriendIt seemed like a very appropriate statement to share at the moment.

Big reason; They know how the system works, what paperwork is needed and most important-They know how to submit a accurate HUD 1 statement.

lol but I do agree with the warren buffet statement.

I would like to ask both of you who responded to this in a negative manner where you stand in the real estate business my assumption is that you are property managers not investors am I correct in this statement?

I just did not want to make a statement I had not verified yet.

Your strategy sounds good, but I'm not clear on your statement above.....appreciate your response. motiv8td, if you can chime in, I'd appreciate that as well.

what you will need for sure is: Authorization to release Purchase contract estimated HUD1 POF letter hardship letter some bank statements typically last 2 yrs tax returns financial worksheet (sometimes the banks version) close her on the idea of letting you short it and find out what banks 1st and or 2nd(if she's got a second) and I'll tell you exactly what you'll need for those banks.

However, if you have the owner sign a statement to release that information to you the bank will provide it.

The primary morivation for an LLC is protection of other assets.We moved all our rentals into an LLC years ago and then put a blanket liability policy on it, greatly reducing our insurance costs with a max claim clause per year of a few million a year and allowing us to greatly reduce our straight landlord policies due to the expanded liability.Banks (we have two, we deal with SunTrust, BoA) have no problem lending the LLC money as we have real assets, no mortgages, and real financial statements, and we have no debt on any of the existing credit lines with them.If you have simialr circumstance then I would change banks, if not, your leverage may be the problem, hence requiring the personal credit reliance.