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Updated about 9 years ago on . Most recent reply

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22
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Jesse Mundt
  • Rockaway, NJ
0
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22
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Wholesale Deal *In need of some help

Jesse Mundt
  • Rockaway, NJ
Posted

hello everyone,

So I'm in the process of acquiring a property through and agent on the MLS. (This is my first time dealing with an agent during a deal) . I made it very clear that I'm a wholesaler and he understood the process , so he accepted my offer but now he's telling me I need to show proof of funds in order to put the property under contact. Please help!

What do you guys suggest I do?

Most Popular Reply

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1,374
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Adrien C.
  • Property Manager
  • Griffith, IN
913
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1,374
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Adrien C.
  • Property Manager
  • Griffith, IN
Replied

it's this stuff that gives wholesalers a bad rap. You don't know what the heck you're doing and trying to mess around with a listed property. After you get it under contract- who's buying it? 

I'm not trying to be an a$$ or attacking you personally; it's frustrating seeing new people post in the middle of a transaction "what's next". Go learn about real estate and wholesaling before you start to practice it. Get your ducks in a row before you put an offer in. Would you expect someone to start a car, put it into drive and start asking those "what's next" questions. There's enough info on BP to tell you everything A-Z on how to do it and the correct steps. Read, learn, then execute. Slow down a little or you'll screw a bunch of folks in that transaction and could find yourself in a lot of trouble. 

  • Adrien C.
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