Proof of funds letter

[Shawn Hurley]

HELLO GUYS I'M NEW TO THE BP COMMUNITY AND I HAVE A QUESTION.  I HAVE FLIPPED A LOT OF HOMES BEFORE THE MARKET CRASHED AND DURING THAT TIME I HAD IN PLACE A LINE OF CREDIT AND A PRIVATE MONEY LENDER TO HANDLE ALL OF MY FUNDING NEEDS. FAST FORWARD THE TIMELINE TO TODAY.  I'M INTERESTED IN WHOLESALES AND FLIPPING PROPERTIES.  HERE'S IS MY ROADBLOCK AND QUESTION.  I AM FINDING GREAT DEALS BUT HOW DO I PLACE THESE DEALS UNDER CONTRACT WITHOUT A PROOF OF FUNDS LETTER? I UNDERSTAND THE WHOLESALING PROCESS OR ASSIGNMENT PROCESS. BUT DOES ANYONE KNOW HOW TO PLACE A PROPERTY UNDER CONTRACT WITHOUT A PROOF OF FUNDS LETTER OR HOW DO I GET ONE?

[Wayne Brooks]

@Shawn Hurley 

First, stop with the all caps, it's annoying.

Second, a POF is for a Cash purchase to show You have the cash, sitting in a bank, in Your name. Anything else would be a Preapproval for a Financed offer.