All Forum Posts by: Tony Escobedo

Yes I know Peter, just asking what investors/wholesalers use for POF, obviously if you dont have 1mil in the bank and you are buying props in SoCal a bank statement wont work, but of course you can partner w/someone else w/has one, NOT asking about that, I am asking about POF companies, thanks.

What proof of funds is working best now?  We wholesale in Southern California and have't quite reached the amount to show in a proof of funds letter, thx.

I would def consult an attorney the most expensive advice you can get is the wrong advice so I would consult a local attorney like your doing, I would contact the local REIA(local real estate investors club) & talk to them-they should give you free consultations, & I would call the local BAR & get referrals, if you can get it in your name then you could cashflow it, rent it, the renters could be an issue but TX is a friendly landlord State :) anything can be rented really, even people who don't own the props rent them out sometime if the owner is absent or not in the loop, much success!!!

well my friend my heart goes to you, I would if I were you consult an attorney-they give free consultations, but would def evict right away so you can start cashflowing again, the most expensive advice it bad advice.  for next tenants I would strongly reccomend using a prop mgmnt that you have screened, I would get some educ on cashflowing props, it is not recommended that you manage a prop yourself, the mgmnt co will screen tenants-make sure they check bank account history & the past 2 landlords ok-much success!

Emmanuel great job on your 1st deal!  I have done 51 deals now, & tons that didn't happen :) that is totally a deal!  lock it up right away, tell  the agent you will take care of him & get him his fee out of closing, standard is 2%-3% so that would only be $1,400-$2,100 just make sure your wholesale fee is more than that, I would do say 5k-7k, if not 10k, and you would just assign it to a buyer, hopefull you have some,