Wholesaling REO Houses- Proof of Funds and Realtors… What Matters?

Getting Started Wholesaling REO Houses?  If so Watch the Video Below.

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Welcome to another House Flippin' 101.

In this episode we're going to discuss the truth behind proof of funds when wholesaling REO houses.

The question is...

"Do you need to submit bank statements as Proof of Funds?"

To answer that question from my "own" personal experiences, the answer is NO!

I've never had to submit POF in the form of a bank statement.  I've only submitted Proof of Funds letters.

In my opinion the Realtors are the ones asking for POF in the form of a bank statement.  So there are some suggestions in the video that I think you should consider when working with Realtors on your REO deals.

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4 thoughts on “Wholesaling REO Houses- Proof of Funds and Realtors… What Matters?

  1. Nice vedio jamel , right on point . I ,am interested in REO .. How do you go about getting a proof of funds letter, please reply .

  2. This gave me what I was looking for about Proof of Funds. Jamel was right to the point and answered by his personal experience. The answer for me was: It is the Realtors who are the ones who won’t accept a letter of Proof of Funds – not the banks – so, if the Realtor wants to see a bank statement, find another Realtor.
    Thanks, Jamel & keep the good info coming.

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