I’m coming across good prospects but I’m hitting hurdle after hurdle. Where do I find legtimate POF, not to close deals but to submitt an offer and wholesale the deal to the end buyer. I tried to use a POF letter from a transactional lender from the internet but it was not accepted.
Why do you need pof? Is that what the seller is asking for? I think you can get free pof letters on flipthiswholesaler.net. There may be a link there to get free letter. Good luck. Oh and watch all the you tube videos on wholesaling, that will definetly help.
Thanks for the advice. But the proof of funds letter you recommended is probably very similiar to the POF letter I submitted. The property is listed and is corporate owned.
D - Whats up u and these realtors bro? Get in good with a local mortgage broker, let them know who you are and what you do. This is what you tell them. “I am a real estate investor that will be looking to get some of his clients approved for loans. Do you mind if I send them your way?” They will say “Sure anytime. Let me know if there is anything else that I can do to help you.”
Don’t ask the broker for proof of funds the first time you speak with him. Maybe about the 3rd time. Tell them you are trying to get a deal done and you need proof of funds letter. A cool broker will say ok for how much.
It is really that easy. You won’t be the only person that has asked him for this sort of a favor. Plus you will be sending him business later on so he is happy to do this favor for you. It works best when you have already sent him a lead. :cool