How do you prove you have funding when using a private lender on your deal?
No matter what you’re doing, you’re using someone else’s money! Whether it’s a bank or private lender, you’d still have to prove you have the funding.
When using a private lender, you just need to ask the individual for a proof of funds letter and then they’ll have to prove that they have the funds. Make sure it’s on a professional letterhead (even if you have to make that letterhead) and then present it to your real estate agent. Present a professional image about how you’re going to come with real cash to close. That’s all a real estate agent is looking for. It’s pretty simple!!