tbaze8053's blog

When you find a good deal and you want to wholesale it by putting it under contract but you personally don't have the funds but plan on passing it off to a buyer. Do you need a proof of funds letter when you make the offer? How do you get around a real estate agent that wants the proof of funds before making the offer?

The real estate agent that I spoke with told me that the MLS doesn't have any properties that would meet my criteria (starter homes in hot areas, as is, or needs work, vacant, price reduced?) He just wanted to know how much money I had to invest for 4-5 properties that I would be wholesaling? He suggested $750,000. I am trying to wholesale to acquire money to be able to fix-flip but do not have it at this time. He wants to sit down with his partner in the morning and discuss this further, but I am obviously way out of my depth as I do not have the answers to his questions. Not sure where I go from here.. Any ideas?

Thanks,

Twila

I was just asked what margin that I wanted to make as an investor. Doesn't that change from deal to deal?

Thanks,
Twila