Working with a wholesaler (what financing options)

[Austin Whisenhunt]

I have 2 partners that we have pooled in our capital and have enough for a 15-20% downpayment on the type of property we would like to buy and hold. We are pre approved by a traditional bank, but they obviously need to conduct the appraisal and all of that.

I see a lot of wholesalers post some great properties that fit our criteria. I was wondering if having a traditional mortgage that will take some time to close is possible for these wholesalers? Do people really have that much cash that they can buy the properties within a week? If not, what are some options we have?

Thanks in advance.