Submitting Offers With an LLC - Proof of Funds

[Dustin Poole]

We are working on our Wholesaling strategy, and are trying to fine-tune the procurement process. Our goal is to submit the offer in a newly formed LLC, then sell the LLC to a Buyer/Rehabber. I understand this isn't anything new, but I am curious as to how other wholesalers are showing Proof of Funds with each offer. With our own Rehab deals, we would simply provide an account with loads of cash, but when dealing with multiple newly formed LLCs, I would imagine this would become a bit tricky.

Any suggestions?

[Mark Yuschak]

The other option is to submit POF for an account in your personal name. If you will inevitably be the registered agent for the to-be-formed entity, the POF in your personal name is acceptable.

I've done this multiple times and it's never been an issue.