Wholesaling - proof of funds Now !?!?

[Terrez Jarrett]

We had a great deal that we were going to sign contact on recently and the seller came down significantly on the purchase price.

They wanted 24,000 but they wanted proof of funds immediately upon signing contract! I did NOT know what to do at all! I was stuck because I didn’t have proof of funds for 24000 at that moment. In your opinion, what would could I have done?

[Lydia R.]

@Terrez Jarrett I would suggest finding a hard money lender or someone who provides transactional funding who will provide you with a proof of funds letter. Perhaps offer to give the hard money lender first right of refusal on the deals you get using the proof of funds letter from them. They make money when they lend money so if you send them your deals and they send those deals to investors that they lend money to then everyone wins. You get a proof of funds letter and a buyer, they get to lend more money. Win win.