🔥 Watch our FREE TRAINING to learn how to Wholesale & Flip Houses from the MLS without having to do any marketing: www.realestateskills.com/training?el=pofyt
First off... Thank you... For not paywall-ing this information. There are other vets in the business that are respectable in their own right, but rope people into buying into a monthly membership fee ($100) just to have access to these documents without mentioning alternatives. Little things like this get people stuck in analysis paralysis if they know they're missing things like this before getting started. Myself included as I was expecting having to break down and just fork over the $100 to have access to POF Letters. For someone just starting out, with very little cash to work with... $100 makes a difference, it really does. So again, thank you for this information.
Hey Matthew - you're welcome. Getting a Proof of Funds shouldn't be a bottleneck for anyone. Cheers & Happy Wholesaling 👍 Appreciate your thoughtful comment. Please Subscribe to our Channel if you dig our content. We'll keep coming out with more wholesaling gems.
Matthew U so right, we little guys with less pocket change surely can relate n October I bought n 2 a certain membership for POF, 2 days ago I saw it on my bank statement didn't even remember I purchased it over a month ago no more being foolish, this content was what I needed bcuz I made that mistake of looking not professional making an offer without POF with a realtor. This helps me tremendously thank U, thank U, thank U, 2 B continued
well said. This is a prime example of ‘community service’ content. Giving away this valuable information for free has no choice but to come back around to you. Much love !
Alex, your parents raised you well! Wherever they are I'm very sure they are 100% proud of you for getting these GOLDEN or should I say PRICELESS information and tools for free. These information is so valuable for someone with not enough funds to be REI. Thank you, Thank you☺️. Thank you☺️. GOD BLESS YOU MORE!!!
You're very welcome, janjay! We hope you take this information and run with it and we wish you the best on your real estate investing journey! 🚀 Cheers! 🏠
I been watching your videos past 2-3 days and it’s helped me so much understand more with step by steps and the information needed to get started, Thank you 🤞🏽
Great to hear! Super glad our content is resonating with you. We only work at putting out the best wholesale real estate content! Thanks for the love! Cheers & Happy Wholesaling! 🏘🚀
Thank you so much for these videos. You are not only building your personal kingdom, but are building a kingdom in heaven for helping all of us just beginning our wholesaling journeys. Very much appreciated!!!
Epic tips for getting a proof of funds letter (POF) when you're submitting offers on properties! Perfect for both wholesalers and real estate investors. Thanks for the clear, concise, and quality video as always!
Absolutely! When working with real estate agents, the Proof of Funds Letter is essential for making offers of the highest quality & getting cash offers accepted! 🏘
Alex, all I can say is thank you so very much! I have been scouring the internet looking for just this one thing. And here, you have provided not one, but two sources for proof of funds! As a token of my appreciation of I have like, subscribed and hit the bell icon. Much more success to you!
Hey Josh! You got it man. Appreciate you leaving a comment. Let's know we're on the right track! Super glad you watched our step-by-step wholesaling video. Crush those steps & make it happen! Also, please Subscribe to our channel when you get the chance! Definitely want you to know when our next video full of golden nuggets will be coming out! Cheers & Happy Wholesaling, Josh! 🏘🚀
This definitely helped me at the last second being I’ve been educating myself and taking action along the way that I almost looked like an amateur haha. I know once I make my first deal I’ll be able to invest in the program you guides provide. You guys are really adding SO much value within your content it’s amazing!
Hi DeBret! Thanks so much for the kind words! It's great to hear our content is helping you. You're on the right path-taking action is what counts. Making that first deal will be a big step, and we’re confident you’ll get there soon! Keep going, and we’ll be here to support you when you're ready to join the program. Best of luck on your journey! Cheers! 💙
BOOM! You got it, Daniel! Keep crushing it my friend! Please shoot us a subscribe so you're notified when our next great piece of content comes out on wholesaling real estate! Cheers & Happy Wholesaling, Daniel!
Great content. Stumbled across your channel attempting to problem solve how to get a deal done through an agent. I believe this is exactly what I needed. Thank you sir.
Hey Ron, super glad you found this helpful my friend! We've been doing deals with agents consistently for 10+ years. You came to the right place! :) If you haven't yet, definitely Subscribe because we'll be coming out with more & more content on wholesaling & flipping houses from the MLS and with real estate agents! Cheers!
Glad our vid on the Proof of Funds Letter resonated with you, Carolyn! In case you haven't grabbed it yet, you can download the “2 Ways To Get Your Proof of Funds Instantly Step-by-Step Cheatsheet” here: www.realestateskills.com/proof?el=pofyt Cheers & Happy Real Estate Investing!
Hi Alex ! I really like the way you prepare and make your videos on this platform. You are being very helpful to those out there, including myself, that wants to make a career and a success of real estate investing, property Wholesaling, fixing & flipping etc. Its good to see there are people and leaders out there, that are not selfish with their success and how they achieved it, but are willing to share and help others genuinely to also achieve. thanks Alex, you being a great guy. I wish you more & more success with whatever you decide to do with your life, and those that you love, also included.👌 U go boy ! 👍
@@RealEstateSkills Thank you for reply in fact, it tells me you are interested, and above all, quite very professional, and I like that. As soon as I have achieved, I will let you know. Make no mistake, I will let everyone know that I learned it from you.👌 Take care, I live out in South Africa.
@@RealEstateSkills Thanks for the info! What if you want to flip it instead of assigning? I've flipped a few homes, but my cash is currently invested in the home where I live with my wife and kids.
@BlueSky-gu1vn - These lenders are transactional funding lenders. If you want to fix and flip a property, then we recommend using a combination of a local hard money lender & private money lender!
Wow thank you for this. I diving back into wholesaling and you aee the only one i found so far that shows how to get the POF and explained without making us pay for it... Thank you cuz most of us are starting out with no money 🙏🏾🙏🏾🙏🏾❤❤
You're very welcome, Ashley! That's where most of us start. This is why we feel wholesaling is one of the best ways to get into real estate investing. You got this! 💙 Cheers & Happy Wholesaling, Ashley! 🏚️🛠️🏠
We're happy to hear you enjoy the content, MrDarkRoast! We work hard to share our experience and knowledge. Thanks for showing some love in the comments! 🚀 Cheers! 🏠
You're very welcome, Darrell! Including a POF (Proof of Funds) letter with your offers is a key step that makes you stand out compared to other offers that don't include it. It is a standard that professionals expect, so always include this step when putting in offers. Cheers & Happy Wholesaling, Darrell! 🏘🙂
I am glad I found your page, when you were explaining about the on market deals and being an amateur at 2:00, all I could do is laugh when you said “radio silent” 🤣
Glad you got a good laugh, Loe! 😆 This is definitely an important step to have your POF (Proof of Funds) ready and sent with each offer. Make yourself stand out from the pack and present your best foot forward! Cheers & Happy Wholesaling, Loe! 🏘🚀
Hi there! Thank you so much! 🙌🏼 We're glad you found the information valuable. If you have any more questions or need further guidance, feel free to reach out! Cheers!💙
You're very welcome, Celita! That is very exciting that you are starting your journey as a real estate investor! Thank you for the kind words and you got this! Cheers! 🏘💙
Hello, John V! We've been using this method for years and it has worked great. You also can show your bank statements or your cash buyer's statements. This is just one of the easiest ways to get a POF letter for your deals. 😊
Congratulations! We're so happy to hear that our content gave you the push to move forward on your wholesaling journey! As questions arise don't hesitate to ask questions! Most people also question how to talk to cash buyers early on so I suggest you watch our other video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-yPDBNoKgIUo.html Can't wait to hear all about your first wholesale deal! Cheers & Happy Wholesaling! 🏠😊😎
Thank u so much. I was really confused when I found out I need a POF cause I always understood that it didn’t require my own money to wholesale a property. You did a great job explaining! Just one more question If I end up not finding a buyer in the thirty days I have on the contract I sign and have them sign, can I still pull out? Would I be able to walk away?
It's possible, but it all depends on the contract you're using and the terms in the contract. The contract is the law of the land. You must abide by what's in the contract. Everything is negotiable at the end of the day, but what you agreed to in the contract must be followed.
Hi BD! Great question! It's best to use an updated Proof of Funds (POF) letter tailored to each property you're making an offer on, as sellers often prefer seeing the specific property listed. However, some wholesalers may use a general POF for multiple deals, though it may not be as effective. Hope this helps! Cheers! 💙
:) Appreciate the comment & support! Glad you dig! Definitely subscribe if you haven't yet. We'll be coming out with more great content around wholesaling & real estate investing!
Thankyou very much for your presentation. Alex wishing you a very Happy & Prosperous New Year. Please do presentation for commercial wholesale deals on Apts and other things.
Hey there again, Kam! Thanks for taking the time to comment, and we and the team hope the same for you! Thanks again for the suggestion, and I will add it to the list. Cheers & Happy Wholesaling, Kam! 🏡😊
This was extremely helpful. My question, once I have the property under contract. Is there a template/proposal/package I should use to market the property to cash buyers?
Hello, Tarsha! We do have what we call a "Platinum Platter" we provide to our students in our Pro Wholesaler VIP Program. You can check out our free training here then book a call with our team to see if we are a good fit for each other here: www.realestateskills.com/training?el=pofyt In general, you should know your cash buyers buying criteria and bring properties you know they want. Once you have it under contract, you can call them and run through the numbers. Cheers! 🏘🚀
Is this consider fraud ? Can we get sue if they call us out on it or if I don’t sign the contract or how does that work ? I’m learning the game and just trying to figure it out
Hello, Visions! I want to be clear on your question, so please let me know if I'm wrong, but you're asking if using these companies to provide a POF (proof of funds) Letter for your wholesale deals is fraudulent? The answer to this is no, not at all. These companies are hard money lenders with an interest in lending the money to you if necessary. Another option you have is once you've built a relationship with your cash buyer, you can have them provide you with proof of funds each month, but note that this option takes time and trust with your cash buyers. Cheers & Happy Wholesaling, Visions! 🏠
Hey! Appreciate your comment! You're very welcome! Please shoot us a Subscribe if you haven't yet! We'll keep the gold coming :) Cheers & Happy Wholesaling! 🚀🏘
Hey thank you so much for your comment! :) We put a ton of time & effort into these vids for you! You are becoming an excellent wholesaler! Let's go!!! Now you know a great amount about the proof of funds! ;) Which is KEY knowledge for any wholesaler! Cheers & Happy Wholesaling! 🏘
No problem, Hometown! Glad you enjoyed the video! We put a ton of effort into these videos so it's always nice to see a viewer drop into the comments and share some love. Thanks, Hometown! 🏘💙
Alex thank you for taking the time to show us so much. I'm a little confused. my funds will eventually come from a cash buyer, is this almost like a filler to be able to get access to property info?
Hey Kattia, appreciate you leaving a comment! Thanks for the comment! Yes, the Proof of Funds Letter needs to be looked at as a "means to an end" to getting your offer (and you) taken seriously by the real estate agent. It doesn't matter where the source of funds actually comes from when it times to close on the deal!
thank you for the content! very helpful. Do these sites provide actual funding as cash buyers if the offer is excepted and we don't necessarily have a cash buyer lined up?
Hey JeanPaul, you are very welcome! These two sites specifically provide transactional lending which is short term lending (think 24-72 hours). If you want longer term capital to actually buy a deal to renovate it and re-sell it, then check out Hard Money Lenders & Private Money Lenders rather than transactional lenders.
Super helpful video - well done and I will be subscribing and watching more! Question: When wholesaling and working with an agent, do they ever question the validity or credibility of these POF letters? Just wanting to prepare myself with the right answers to questions that may come my way. TIA!
Hello, Lori Jersey! Sometimes they may ask to reach out to the lender and that is fine. These are legitimate hard money lenders. Also as you build a relationship with your cash buyers you can use their statements as your POF. Cheers! 🏠
Listing agents are asking for bank statements showing where the money will come from and if it truly has the funds the letter alone wasn't sufficient. What do you do in that case?
Hey Jasmaine, if that is the specific case for you, then you can 1): Work with / contact a Hard Money Lender, Private Money Lender, or Transactional Lender willing to provide a bank statement (they are abundant, just use google to find in 5 mins or network at your local REIA, which is always highly recommend in order to build quality & long-lasting relationships), 2) If you have quality relationships with Cash Buyers then ask to use their proof of funds / banks statement to create a win-win situation (you get to use their POF / bank statement to get the deal under contract and the Cash Buyer gets to flip your wholesale deal = Win-Win) Boom. Make it happen!
These are really good gems here and In all your other videos. I came across your channel and subscribed and turned notifications on after the first video alone. I appreciate the free game and god bless 💯🙏🏽
Also, I understand that they might not always pick up the phone but are the deals guaranteed to go through once realtor approves and the company approves? Or should I ask do they actually review every offer that gets accepted by a realtor to see if it’s something they wanna follow through with as well or is it more like you get lucky if they even review the offer you sent out and got accepted from the realtor?
Hey there, a great perspective is to think that a deal is never guaranteed until the deal has actually closed and the money is in your account. If you don't think this way, then you will once you start getting experience! One of the first goals is to get the contract "executed". This means that you have signed the contract and the SELLER has signed the contract. Now the contract is executed & binding. Now you own the contract rights as the first original buyer. Once this is the case, now you contact your Cash Buyers (who you should have already talked to and have a relationship with) and the Cash Buyer who wants the deal will pay you an assignment/wholesale fee. Your questions got a little wordy and confusing. If my response didn't answer your question, then please re-word it in a more concise manner! 😎 Cheers & Happy Wholesaling! 🚀🏘
@@RealEstateSkills yeah I tend to do that sometimes lol let me try again. Do these companies actually get involved in the offer you’re trying to bring to the table (potential cash buyer) or are they only used for the proof of income letter? like they don’t actually look at the info you submit to them for the offer you’re trying to send out they just send you the letter you need and that’s it?
No these companies don't get involved in the offer you're trying to bring to the table. They're only used for the proof of funds letter, they send the letter automatically to you. The only time you'd actually use the funds from this company is if you wanted to use them for transactional lending and double close a wholesale deal. But once again, you do not need to use their funds. You can use the proof of funds letter as a means to get the deal under contract and you can then assign the contract to a cash buyer and get a wholesale fee.
Thanks for the information very helpful. One question I have is, do you have to send a proof of funds letter to off market properties? Like directly to the seller?
Great question! When dealing with off-market properties and negotiating directly with the seller, whether you need to provide a proof of funds letter can depend on the seller's preferences. Unlike listed properties where agents or brokerages often require POF to ensure a buyer's seriousness, off-market deals may be more flexible. However, providing a POF letter when negotiating directly with a seller can still be beneficial. It helps build trust and demonstrates that you have the financial capability to close the deal, making your offer more credible. Even if not explicitly required, offering proof of funds can strengthen your position, especially if the seller is considering multiple offers. Always ask the seller upfront if they need a POF letter, and be prepared to provide one to streamline the negotiation process. Hope this helps! Cheers!
Phenomenal information! Question..The offer price is what we want to get the property under contract (before the wholesale fee is added), correct? Thanks!
Yes, that is correct, Bert! Your wholesale fee is the difference between what you can negotiate the property for versus what you can sell it to your cash buyer for while keeping it within their buying criteria. Cheers & Happy Wholesaling, Bert! 🏘😎
First off just want to say thanks so much for these videos they have inspired me and gave me the info to back my aspirations but Is this not a fraudulent proof of funds document considering no loan was actually approved? Asking because I am in the process of wholesaling my first deal and have now got to the point of submitting an offer
Hello, King NAZ! This isn't fraudulent at all. These are legitimate hard money lenders that want to lend you money for deals. Just a bit of advice if you're looking to do your first deal is to make sure you have your cash buyers first and get to know their buying criteria. That way you only bring them deals that they want to actually buy. 😊 Cheers! 🏠
Glad to hear, Ramon! Appreciate you leaving a comment! Now you know how to get proof of funds letters for each & every offer you send ;) Please shoot us a Subscribe if you want to be notified when our next video on wholesaling comes out. Much more to come :) Cheers & Happy Wholesaling! 🏘🚀
Hi Alex, Excellent information. Thank you so very much! Question, when getting an LLC, should I use my home address or get a virtual mailbox address for this type of business?
Hello, True! Hello! I'm glad you found the information helpful. When it comes to choosing an address for your LLC, there are a few factors to consider: Privacy and professional image: Using a virtual mailbox address can help maintain your privacy by keeping your personal address separate from your business. It also adds a professional touch, especially if you don't want to use your home address for business correspondence. Legal requirements: Check the specific regulations and requirements in your jurisdiction regarding the address you use for your LLC. Some regions may require a physical address, while others may allow the use of virtual addresses. Mail handling and accessibility: Consider how you prefer to receive and manage your business mail. A virtual mailbox offers convenience, as you can access and manage your mail remotely through online platforms. If you choose to use your home address, consider mail forwarding services or a separate business mailing address to ensure efficient mail handling. Costs and logistics: Evaluate the costs associated with virtual mailbox services compared to using your home address. Additionally, consider the logistical aspects, such as potential limitations on package deliveries or mail forwarding. Ultimately, the decision depends on your specific needs and preferences. If privacy and a professional image are important to you, a virtual mailbox address may be a suitable option. However, ensure that it aligns with legal requirements and consider the practical aspects of mail handling. Consulting with a business professional or attorney can provide further guidance based on your jurisdiction and circumstances. Cheers & Happy Wholesaling, True! 🏠🚀
Thanks Jose! Glad you enjoyed it! Our goal was to make this the best videos on RU-vid for getting Proof of Funds Letters fast! Hope this helps you on the journey! Cheers & Happy Wholesaling! 🏘🚀
