Posted by BigHarold on July 23, 2003 at 05:22:42:
The house in question is 1323 sq. ft. Renovated comps in that neighborhood are at least $60K - I’m going on the low side there, since it could go as high as $70-$75K, based on recent sales of similar homes in the immediate area (which is the same street). I’m planning on flipping THIS property wholesale, but after this one, I’ll need a hard money lender to secure funds for rehab at time of close. I’d then sell properties retail.
The long and short of it is, I’d need to show the realtor representing the bank that I’m approved for the funds to acquire this property. For that, I need the proof of funds letter. Again, thanks for any help you can give me on this.
Real Estate Investor