Question About Wholeselling

Hello all,

I have come across some deals that require pre-qual/proof of funds letter. My concept of wholeselling, was that you make an offer on the property in question. Include a contigency clause, such as an inspection or financing when submitting offer. Once the offer is accepted, advise your investors of the negotiated contract with your fee included. Then assign the contract and get paid. If a pre-qual letter/proof of funds letter is required. How can I obtain a pre-qual/proof of funds letter? Is there any specific process to accomplish this? All help will be greatly appreciated.

Thanks in advance!

I hope this is not s stupid question! :help

You can get a preapproval letter from a lender. If you can’t get one from a traditional bank, try a hard money or private lender. There is a list of hard money lenders on this site under the Investor Resources section. Good luck!