Proof of Funds issue

7 Replies

So I was curious what should you do If you are trying to wholesale a property but the seller ask you for proof of funds, but you being the wholesaler you dont have the funds available to show for? where should I go to get one or what should I resort to with the seller? any tips on this?

If you are negotiating with the seller and think there is any chance to work out a deal, you could find a partner(maybe another wholesaler you know or even a friend) for this deal who does have proof of funds. Figure out a way to get it done!

@Chris Montalvo look up transactional lenders. Be upfront and honest, I’m not sure what your pitch was, but I’m sure it wasn’t honest. When considering a wholesale deal it has to be something you are able to take down yourself as it is a GREAT deal, isn’t it? Walk us through the deal/numbers, what strategies are you planing to use? What are your exit strategies? what strategies would the buyer able to use? Are you ready to start wholesaling? Give us a bit more background on your situation so that we could give you better advice.

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