Wholesaler Being asked for POF
Hey so I am new to the wholesale business from Indiana. I have had a couple contracts set up and ready to go with sellers but they keep asking me for POF last sec what should I say/do to let the know I'm a wholesaler and I will be flipping the house to make a profit without scaring them off? I'm 20 years old and don't have the money to purchase a home obviously! Please help !
Most Popular Reply
@Mason Jobst The short answer is to provide POF, which is very easy to do. In Indiana, I suggest you subscribe to a VERIFIABLE POF source such as http://www.dohardmoney.com/loans/us/indiana-state (just click on "PROOF OF FUNDS") available on-demand 24/7. When the seller calls, they will get confirmation... from someone with funds to actually provide on the deal. The subscription is about $17 per month and accelerates your offers. Try it; if you don't like it, you cancel it and you're good to go. I used it when I started and it helped me get my first HUD property.