New wholesaler, stay away from REO's?

[Pedro Oliva]

Would you guys recommend to stay away from wholesaling REO properties till some experience is to be had? The reason I ask this is that from my understanding is that some banks have nonassignable contracts, thus need to be a bit creative to get this types of deals done. Please correct me if im wrong. Also this type of deals require proof of funds or pre-approval letter from private lender, which confuses me as to who would need to provide this the wholesaler or the buyer of the property? As a new wholesaler and a small network, private lenders would be somewhat hesistant to work with a new wholesaler I would imagine? This is from all of my understanding thus far and could be way off base, but would like help me understand this further.