Wholesaling without proof of funds

[Tahj Chong-Thomas]

I want to start wholesaling but before I can lock the property in contract they ask for proof of funds. I am now starting to get out there and wholesale but i don’t have 200k+ sitting in the bank. How can I wholesale without showing proof of funds? 

[Josh Caldwell]

Hi Tahj,

You dont need POF to wholesale, you dont need money or credit either. All you need to wholesale is a contract and money to bind the contract. I usually give my sellers $10. What you need to do is change the way you explain your business. "This property isn't for me, I am not your buyer. What if I could get you a buyer who would be willing to pay your asking price, would that interest you? I plan to make money from this transaction, but not from you. The buyer will pay me for helping him find your property. do you want me working for you for free to find you a buyer?" Great, then sign my agreement and lets get started.