Wholesale Proof of Funds?

[Drew Tawlks]

Hello All,

I’ve recently started diving into the world of wholesaling to keep building capital and I’m for seeing one major roadblock I’m hoping people can speak to.

When negotiating the deal with agents, won’t they require a proof of funds if I’m negotiating an all cash deal? I have a group of about 10 investors that can all buy these with cash and they’ve asked me to send over deals IN CONTRACT that I would then assign and attach a wholesale fee to. I don’t have enough capital to purchase these outright or else I’d be flipping them for myself!

I could see the possibility of getting a pre approval letter and having enough for the down payment but then you lose the negotiation power of an all cash quick close deal that I think it will take to get them at the prices I (and my investment partners) would want.

Let me know if any of you wholesalers out there have any thoughts or ideas you’ve used!

Thank you so much in advance.

[Jay Hinrichs]

very few wholesalers buy listed property as its a waste of time

and your sellers of wholesale deals dont really know what to ask for .. there fore you dont need a ton of money or proof for most deals.