All Forum Posts by: Shania Hill

It's ok Kevin. Your answer actually made me think about what was proposed. As a person of integrity in my trained profession of Social Work, I would never contemplate doing anything that wasn't legitimate. I will be applying that same level of integrity to my real estate endeavors.

That's what I thought he was implying and it didn't soung right to me. Although, I actually asked the question to a local buyer and he agreed to present me with a POF after I'd tied up that contract. But that, obviously, makes sense.

Thanks for the reply Kevin. I understand that as a wholesaler, it's vital to know that your end buyer can close. I guess I'm looking at it through my market's eyes. If you are buying properties in Maryland, DC, or Virginia that are on the MLS--no one will even look at your offer unless you have a proof of funds letter or bank statement. As a wholeslaer, I know that I could use my own proof of funds to tie up a property. But I guess I'm trying to figure out the motivation for my end buyer to provide me with proof of funds before I've even secured a property that he/she is interested in. I hope I'm making sense. I'm typing this while I'm at work.

This past weekend I attended my local REIA meeting as I often do. This month the speaker was a wholesaling guru who's now moved into Rehabs. Anyway, he suggested contacting local rehabbers and asking questions about what they were looking for..you know the normal questions. But he threw in one that I'd never heard of. He said that as wholesalers we should also ask cash buyers if they were willing to provide a proof of funds letter to submit with offers. Of course this would be used only when attempting to secure properties that fit the cash buyers requirements. Have any of you ever had a cash buyer provide your proof of funds letter or or even asked this question to your cash buyers? And if so, how successful have you been? I thought it was interesting, but don't know how well this would work in my particular market.

Thanks for the warm welcome everyone. I've been burning the site up since yesterday. I will definitely be putting the networking tool to good use. I'm also reading the articles. My next step in moving forward is forming my LLC. I'll have that done by next Wednesday. Gonna personally drive up to Baltimore to have the paperwork expedited, and to get familiar with the office.

Thanks Ali. I've been reading the forums like crazy and have found a lot of useful information on short sales--my area of interest, as well as reputable title companies, etc. I feel like I've finally found a really good forum for real life experiences,

Hello BP. I'm new to this forum and to real estate investing. I'm a Social Worker from Maryland who eventually wants to be financially free. I love what I do with children and families, but I'd much rather be a volunteer than an employee. I've been researching real estate investment for a long time now and I also attend my local REI club meetings. At this point I'm suffering from Analysis Paralysis. I know I need to move forward, but I'm still finding my way. I'm beginning to recover from a major financial setback--a job loss that all but destroyed my credit. I'll be entering this business as a wholesaler and I hope to find some useful information and make some connections to investors in the District of Columbia, Maryland and Virginia. My goal is to wholesale my first property before the end of 2010.