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Updated about 8 years ago on . Most recent reply

Chasity Johnson's profile image
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Chasity Johnson
  • Investor
  • from Marietta, GA
  • Member since Jan 15, 2017
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Chasity Johnson's profile image
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Chasity Johnson
  • Investor
  • from Marietta, GA
  • Member since Jan 15, 2017
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Chasity Johnson
  • Investor
  • Marietta, GA
1
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Buying & Selling Real Estate

Proof of funds letter

Chasity Johnson
  • Investor
  • Marietta, GA
Posted

Hello Everyone,

I've ran across a problem trying to wholesale a property from HUD. My Realtor is asking my to provide a proof of funds letter before submitting my offer but I have no clue how to get one. Can you help me figure out how to move forward with my deal?

Thanks for the feed back!

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Ryan Murdock's profile image
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Ryan Murdock
  • Rental Property Investor
  • from Maui, HI
  • Member since Aug 10, 2016
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Ryan Murdock
  • Rental Property Investor
  • from Maui, HI
  • Member since Aug 10, 2016
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Ryan Murdock
  • Rental Property Investor
  • Maui, HI
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Ryan Murdock
  • Rental Property Investor
  • Maui, HI
ModeratorReplied

Tough to wholesale a HUD property. They have pretty strict buying requirements and will want to see proof of funds or ability to finance before accepting your offer. If you don't have the cash or a letter from your lender showing you have the means to purchase you may be dead in the water.

  • Ryan Murdock
  • Podcast Guest on Show #355
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