OfflineHey Guys I am new to Wholesaling Real Estate purchased Profit from Real Estate Right now and still very siked. However anytime that I tell someone what I am doing whether (Real Estate Agent or Broker) they say no one is assigning properties anymore. Or no banks are lending money to investors, or did you have the assignment contract looked over by a Real Estate attorney to make sure it's legit.
This all has gotten me very discouraged. I also feel like I am getting overwhelmed with information. I feel like I don't know what to do first when I find an agent willing to work with me she asks for my proof of funds and bank statements! I am saying to myself I don't have any proof of funds.
Someone please help I need to be headed in the right direction.I guess my main thing is how to put a house under contract with no proof of funds or bank statements.
Thanks
Compile a buyers list, you can use a Trans Funding Co. to put up the money so you get a POF letter from them(if your buyer is lined up). You can even bypass the assignment(if a RE agent is giving you a hard time) since it will be 2 separate transactions; you buy from the seller, funded by the trans funding co.; then pass it on to your buyer and collect the money in the middle. Remember to figure your closing/money costs to do 2 separate deals.
Thanks for the info gceriani! I will check out Trans funding companies now...