do I need proof of funds for...and what bout who makes offers???

An assignment is easy. Come to an agreement with the owner. Write up your contract with your escape clauses. Just next to your name put and/assign. Sell it to your end buyer with your profit on top. You don't need proof of funds since you are not buying it. you are assigning it.

B.C. Just curious as to how many deals have you made and assigned? How did you confront the peron youy were trying to strike the deal with?
Kingjuss,

but what do I say to the real estate agent to get her to realize this???It seems so easy, and I know it can be...of course nothing is easy, but you know what I mean...She is so caught up on needing proof of funds...How do I get her past that...she is worried if we put my name on a purchase agreement, with no way of buying it, she, and I could get in trouble...I explained the whole getting house under contract...put the and/or assigns on the contract where I put my name,which gives me right to assign it to somebody else, find somebody to come in and purchase it...

Marc! If you have someone or list of people who you think are ready to buy (other investors, friends etc.)you dont need her REA; Go ahead with your offer with clause of an/assign. Spell out all other terms and specify to close in less than sixty days. Make sure you file after wards @ your local court to ensure no other investor pick up on your intended property. You can also use 'subject to' a lot on your offer it help if it didn't work out.

Hey Marc
Most realtors do not understand how to work with investors. They are taught only one way in real estate school...that you have to obtain conventional financing and the proof of funds letter.
You will either have to educate her and hope she learns and works with you or move on and do it yourself...or find a investor friendly realtor. I so far have worked on my own and with the help of many of these wonderful people here on this board coaching me. I have bugged many of these poor people to death...but they are always so wonderful and always reach out to help.
Don't let an unsure realtor stop you from doing a deal...you can do it yourself.
So far I have never had to use my proof of funds letters but I do have them just incase the occassion ever arrises.
Sissy

Another thing Marc...you won't get in trouble if you don't purchase the house because you are going to have all your contingencies in order. Those are your bail out clauses. Many people get right up to the ending date on their contract and back out for one reason or the other thanks to the contingencies they put on the contract.
Watch your realtor's mouth fly open when you tell her you are going to add contingencies on the contract. LOL! LOL!
Don't get me worng about realtors...I love em...I have many realtor friends at church...but so far no investor friendly realtors. LOL!

CONTINGENCIES:
1.This contract is contingent upon BUYER obtaining suitable financing.
2. This contract is contingent upon suitable home inspections (BUYERS choice.)
3.This contract is contingent on the fact that the seller understands the BUYER will be reselling or assigning the described property/contract for a profit.
4. This contract is contingent upon BUYERs final corporate approval.

I am sure there are a lot more contingencies you can think of but those are a few.

I have a couple questions with regard to the "and/or assigns".

Question 1: Assuming the contract has your name printed as follows..."Your Name and/or assigns", should you write in "and/or assigns" after your signature or will your signature alone be ok?

Question 2: I have a contract that just has my First & Last name as the buyer. If I sign the contract and put "and/or assigns after it, can I legally assign the contract?

Just use the purchase and sales agreement from the site here......it says right on it "and or assignees. That's it and you can just hand it over to your investor.

I found an owner selling but will not show it unless it's a cash buyer, which I have, but wants proof of funds and the investor wants to see first without providing the proof of funds. In this case do you move on?

I think this one is a matter of posture. When you made initial contact you need to let the seller feel that this is a professional call, and that you indeed are an Investor....part of a group of investors that are possibly interested in his property if it pencils out. The more that you gain the confidence and the language skills that you need ...ie...real estate verbage......it will be more apparent that you are who you represent yourself to be. Posture is important. It sends a message of strength, of your ability to perform etc...If the seller had brought that up to my I might have said something like....."I understand your wearyness, however I am not calling to waste your time. I have many more calls to make, and If we can't meet perhaps you should wait for a more conventional buyer to come along. By the way we can close in 2 weeks or less. Anyway.....thanks for your time. Here is my number if you want to work with us. We buy homes all the time, and yours looked like a possible aquisition." How do you think that would have been taken....? He would have thought......wait.....don't leave......I was just testing you....sure come on over. If he didn't respond that way...he's an idiot....at that point you leave your name and number and let him STEW.

I agree.
It takes knowledge and wisdom.
Thank-you for taking the time to share it.