Special offer

POF / Proof of Funds

By
Services for Real Estate Pros with Encore Investment Group, Inc.

I had an associate ask what I might do differently if I were to start over again.  One of those things would be to line up private money early on.  However, early on, it's hard to get private money lenders to trust your skills especially if you don't have them quite yet.  Let's face it, you probably don't have $200,000 lying around to satisfy the requirements of a Proof of Funds.  Plus, if you don't have the chops yet yourself, hard money won't anty up at a contract offer unless they've worked with you before.  If you do have someone to guide you through the rest of the process and you've knocked on all the hard / private money doors and they won't give you a Proof of Funds letter, you do have one option.  You can have an account set up for you with the cash you need in it.  I would strongly caution you about doing so. 

First, KNOW the deal you're walking into and be sure there's enough in it to walk away in profit.  Second, Proof of funds will completely negate your financing contingency because of course, your letter says you have it.  So you better have it.  Meaning, your funding on the back end whatever that might be, had better be solid.  This is why you need to have an experienced investor walk you through the rest of the process.  That being said, with a POF you can open doors not normally open.  You can present yourself with positioning power where others have backed away.  When cash is king, you can be royalty in as little as 24 hours and at a minimal cost.  Again, do this at your own risk.  If the bank is serious about seeing it, you can believe they're equally serious about you not having it when it comes time to close.

Contact me if you are interested in setting up a POF for you or your company and we'll see if it's right for you.

Sean Allen
International Financing Solutions - Fort Myers, FL
International Financing Solutions

HHHmmm, this is interesting while at the same time confusing. Are you saying that your organization provides POF when a client needs it?

Sean Allen

Jun 21, 2008 01:13 PM
Anonymous
Anonymous

Sorry, it wasn't meant to be confusing.  Yes, we can provide this service for 3% of funded amount.

Jun 21, 2008 01:24 PM
#2
Dalene Stuteville
Encore Investment Group, Inc. - Middlebury, IN

Feel free to offer your services if you issue a POF.  We are always coming across investors in need of resources and I'm sure they don't always have the 3% upfront.

Jun 21, 2008 01:48 PM
Dalene Stuteville
Encore Investment Group, Inc. - Middlebury, IN

Basically, you can get a POF for securing a contract.  It is your responsibility for getting the property to fit the criteria for hard money lending.  So the POF may or may NOT perform but the liability is solely upon the investor.

Jul 21, 2008 06:06 AM
Anonymous
Reginald Ollison

PROOF OF FUNDS SERVICE

Proof of funds supporting a commitment to fund your transaction. Some common uses of the service are the following:

Borrowers Have Utilized These Funds for a Variety of Reasons

·Leverage Funding for Large Commercial Projects

·Funding a Trading Platform

·Credit Enhancement

·Blocked Funds

·Qualify for Financing

·Net Worth Requirements

·Providing Evidence of Proof of Funds

·Commodities / Petroleum Transactions

Commerical Real Estate Transactions

BENEFITS:

·Leverage your capital and profits

·No encumbrance or risk to your capital

·Quick, private, and direct to principal

·Safe from ID Theft and violation of the Patriot Act

·Facilities to structure and settle international transactions

·Protects your bank relationship, transaction source, and profits.


HIGHLIGHTS:

·$100,000.00 to $5 Billion is readily available; larger amounts can be arranged.

·Rates from .75% and up depending on transaction type

·No credit check, financials, or credit score required.


The following documents will be required in PDF format to establish your account.

·Company articles of formation

·Company federal tax ID number

·Enlarged color copy of principals passport

·Enlarged color copy of principals drivers license

·Proof of principals home address

·Principals social security card


PROCEDURES

1.The client will provide the necessary information to provide a quote by filling out short application.
2.A term sheet will be issued to the client; the term sheet will stipulate the 60 days arrangement fee and the escrow instructions.
3.Upon signing of the term sheet and application, we will then forward our financial services agreement and our interim equity sharing agreement.
4.Once all forms have been signed and forwarded back to us and arrangement fee has been sent to escrow co., we will then begin the full Atlantic Equity Partners LLC submission process on your approval.
5.Upon cleared arrangement fee in escrow account and upon receipt of all necessary documents:

oA sub account is opened in your name.
oFunds are transferred into that account.
oA verification of funds is sent to the bank to confirm with clients name on vod to confirm clients account.
oThe approved verification of funds is then sent to escrow co.
oThe escrow co. releases arrangement fee to us and releases verification of funds to client.
oDeal is completed
oThe verification of funds is good for 60 days money will stay in the account.
6.If at any time we feel we can not provide you with your verification of funds , we will advise escrow co. to return funds.

Contact Reginald Ollison
Website: www.atlanticequity.net
Phone 800-313-2410

Jun 22, 2009 01:47 PM
#5
Anonymous
memory pieterse

Hi there,

 

we are in the process of applying for arbitrage funding for a project $25 mil

 

15% of the 5% on the full amount pof is required

 

we are lost... please help!

 

thanks,

Memory

Dec 30, 2010 04:35 AM
#6
Anonymous
Aaron Haruna

Can you provide us with POF of 1B and be paid after we are funded?

Jan 31, 2011 11:04 PM
#7
Anonymous
James Rich
Wow ! Great article on Proof of Blocked Funds Thanks for sharing Keep posting the good stuff!
Dec 19, 2013 03:53 PM
#8
Anonymous
James Rich
Great Article. Thanks for sharing. keep posting the good stuff!
Jan 14, 2014 09:02 PM
#9
Anonymous
James Rich
Great posting. But watch this: New ways of project funding are now available at http://SolomonCapitalPartners.com Full details, also on HYIP PPP funding are made available to you if you email SCP@SolomonCapitalPartners.com
Apr 16, 2014 03:52 AM
#10
Anonymous
James Rich
Great posting. But watch this: New ways of project funding are now available at http://SolomonCapitalPartners.com Full details, also on HYIP PPP funding are made available to you if you email SCP@SolomonCapitalPartners.com
Apr 16, 2014 04:53 AM
#11
Anonymous
James Rich

Do you seek funding and the bank you deal with on a day to day basis has refused to help you?

You might qualify for our new concept and get funded with our help.
Our focus is on socially responsible, green, energy producing projects. The facility is however not limited to these basics, as long as you have a strong management team, a viable business plan, and exceptional growth potential. We also enable finance for growth and consider any commercial business with the potential for a high ROI already within the first year. And we can work with any legal financial transaction offering an above average return on investment.
If your requirement is within these basics, please let us have your answer to this simple question: "Would your own bank provide you with finance, if we guarantee for your loan through Deutsche Bank?"
If you see chances to get funded on that basis, then you should tell us how much money you seek. We will engineer a solution for your immediate funding requirement and explain how you can put this concept to work for you.

Send an email directly to your RelationshipManager@SelectiveFinancialServices.com now and visithttp://selectivefinancialservices.com/project-finance

Oct 06, 2014 02:52 AM
#12
Anonymous
James Rich

Do you seek funding and the bank you deal with on a day to day basis has refused to help you?

You might qualify for our new concept and get funded with our help.
Our focus is on socially responsible, green, energy producing projects. The facility is however not limited to these basics, as long as you have a strong management team, a viable business plan, and exceptional growth potential. We also enable finance for growth and consider any commercial business with the potential for a high ROI already within the first year. And we can work with any legal financial transaction offering an above average return on investment.
If your requirement is within these basics, please let us have your answer to this simple question: "Would your own bank provide you with finance, if we guarantee for your loan through Deutsche Bank?"
If you see chances to get funded on that basis, then you should tell us how much money you seek. We will engineer a solution for your immediate funding requirement and explain how you can put this concept to work for you.

Send an email directly to your RelationshipManager@SelectiveFinancialServices.com now and visithttp://selectivefinancialservices.com/project-finance

Oct 06, 2014 04:01 AM
#13