🔥 Watch our FREE TRAINING to learn how to Wholesale & Flip Houses from the MLS without having to do any marketing: www.realestateskills.com/training?el=evoyt
This sounds good, but I am just so confused about the whole thing. I want to start wholesaling. But I can't get it. It's like I'm getting it and not at the same time. My questions: 1. How do you find contractors/contracts? 2. I followed your other videos about finding Cash buyers. Are they the ones that pays you? 3. Does it work like this: You find a house, you find a Cash Buyer, then you call the seller or their real estate agent and make your offer, then call the Cash Buyer and make a higher price offer then what? I need more details. 😩
Hey Fidel - thanks for the comment! You came to the right place to get rid of the confusion! Let’s answer those questions: Q: How do you find contractors/contracts? You do not have to find contractors in order to wholesale real estate, my friend. That’s the role and responsibility of the Cash Buyer (typically, a fix & flipper). You just need to provide estimates of what the repair costs could be. When wholesaling houses utilizing the methods we use, you work with real estate agents and the real estate agents provide the contract that needs to be used in order to get a house under contract. Here, definitely check out this video we made on How To Wholesale Real Estate Step by Step (In 21 Days or Less): ruclips.net/video/JFnUABPy-A8/видео.html ^That video will probably answer a lot of your questions since it goes so in-depth! After you watch that video, you can check out our other free training on How To Make $10k-$100k+/Month Wholesaling & Flipping Houses WITHOUT any marketing here: www.realestateskills.com/training?el=evoyt ^This training will fill in the rest of the cracks for you about wholesaling! Q: I followed your other videos about finding Cash buyers. Are they the ones that pays you? Yes, Cash Buyers are the real estate investors that pay you for getting distressed properties under contract, and you wholesale these distressed properties to these Cash Buyers. Q: Does it work like this: You find a house, you find a Cash Buyer, then you call the seller or their real estate agent and make your offer, then call the Cash Buyer and make a higher price offer then what? Close! You definitely want to find & talk to Cash Buyers first in order to make sure you can go out and find the exact properties that they want. This saves time and allows you to work smarter rather than going out and putting a random house under contract and guessing that a Cash Buyer would want it. It sounds like you want the exact steps laid out, so here’s the video laying out wholesaling step by step :) ruclips.net/video/JFnUABPy-A8/видео.html Sure hope you enjoyed the video! Please shoot us a LIKE & SUBSCRIBE if this was helpful, Fidel! Cheers & Happy Real Estate Investing! 🏘🚀
Can’t agree more, Nick! Thanks for checking this video out & leaving a comment! Sending you nothing but great thoughts! Please shoot us a Subscribe if you haven’t yet & you’ll be notified when the next video comes out! Keep on crushing it in real estate & life!
You got it, Nick! It's extremely important to have the right expectations on how many offers need to be sent in order to get a wholesale deal, or even a fix & flip deal! Most amateur wholesalers & real estate investors think they'll send one or two offers and get a deal when really that's not typically the case. Every "no" we get, gets us closer to the "yes" we need! Cheers!
Hello, Bojoul Selfcare! That is awesome to hear you're ready to get started in real estate investing. We love to hear when our viewers love our videos. If you're still feeling apprehensive on where to begin, we suggest taking a look at our free training. Here is a link: realestateskills.com/training?el=evoyt Once you've had time to go through that you can set up a time to talk with our team and see if we can assist you any further. 😊 We look forward to hearing from you soon, Bojoul Selfcare! 🏠🚀
I am grateful for the guidance and support provided by Alex and highly recommend them as a mentor to anyone looking to improve their understanding and skills
I love how he starts with the end in mind --> buying and holding for long-term wealth. That's where real wealth is created. Though, wholesaling real estate is clearly the best way to actively get into real estate without any money, a real estate license, or a ton of experience or connections. This way, property investors and entrepreneurs can learn the real estate business, accumulate capital, build relationships, then ultimately invest in the assets that they are now so familiar with. Great stuff, Alex!
Hey Alex, I got 2 quick questions. 1) When wholesaling, and in contact with a sellers agent, what do I do as the wholesaler when the agent asks for Proof of Funds? Would we be able to obtain that from our cash buyers? And 2) Would it be wise, for the deals sake, to disclose from the beginning that we are in fact wholesalers or just simply investors (as not to deter agents)? Me and my wife watched your step by step guide and have decided that this is our starting place in the world of RE Investing. Thank you for sharing your knowledge, as well as presenting it in a way that's easy to understand and follow!
Hey Lizard in a Tux (love the name lol)! To answer your first question, we just released this RUclips video today on "How To Get A Proof of Funds Letter For Wholesaling (instantly & for free)" here: ruclips.net/video/RGdJ-bquL5E/видео.html ^You can use the steps in that video to get a proof of funds for when an agent asks for one. I provide a ton of other helpful tips in the video on how to think about the proof of funds letter to increase the quality & credibility of your offers, too. You'll see in the video that you can get a proof of funds without having to contact any cash buyers. However, if you do want to get a proof of funds letter from one of your cash buyers, then follow the steps in this article we wrote here: www.realestateskills.com/blog/proof-of-funds-letter?el=evoyt ^In the article, be sure to look at the heading that say: “How To Get Proof of Funds From A Cash Buyer Investor” For your 2nd question... it's better to represent yourself as an investor (which is the truth) rather than a wholesaler. This is because there are too many people that watch one youtube video and think they know everything about wholesaling...these amateurs then go out and talk with real estate agents and give wholesalers a bad name (because they have no idea what they're doing). And it's actually the newbies that tell agents that they are "wholesalers". So, definitely let agents know you're an investor and not a wholesaler! (I mention this in the step by step video, too) Wow so glad that you've found our videos and feel confident in using wholesaling as your entry point into real estate investing! :) It's a proven path and can't wait for you to keep on diving in! Remember, it's about the journey. You're going to make everything that you want & need happen as long as you STICK TO IT! Crush it!
Much appreciated, Vicki! We love sharing this path because it truly is attainable for anyone to make this happen. Sending lots of love, great vibes, and hope you have a wonderful day, month, and year! Time to keep making great things happen!
Hey Alex, If I were to put save a lot of money to get a low mortgage after wholesaling couldn’t I skip the fix/flip step? Say I found a house for $400,000, and got my mortgage down to 1000-1200/mo.. couldn’t I just rent for 1500-2000/mo and maintain profit?
Hey! Yes, you absolutely can skip the fixing & flipping step and solely use the income you make from wholesaling to buy rental properties. We have a saying that we personally like which is "Fix & Flip the best & Wholesale the rest!" Meaning, when a deal comes across your plate that has a high likelihood of being a great fix & flip deal, then we like to take it down as a fix & flip. If we have too many projects going on, or don't like the repairs needed on the property, then we wholesale it. Cheers & wishing you nothing the best on your real estate journey! Please shoot us a subscribe when you get the chance! We'll be coming out with tons more content we think you'll enjoy!
This is a great question, @janetrodriguez9801! No you do not. You will be bringing a buyer to the deal that is paying cash for the property so you're not needing to qualify for a loan. Cheers! 🏠
Hey Emil! Appreciate the comment! Grateful you're watching & listening, my friend! If you haven't yet, please shoot us a Subscribe & a Like so you know when our next video comes out ;) Cheers & Happy Real Estate Investing! 🏘🚀
Hello, Brudren! Typically the agent you're working with will make the contract. You still should always read through to ensure everything you agreed upon is there. Cheers! 🏠
WOAH! Thank you for showing me exactly how to get into real estate with no money! Love the wholesaling approach to getting started without any money or experience! 💯😎
Glad it was helpful, Sosa! Appreciate the kind words. The goal was to make this the most clear & straightforward video on RUclips on how to get into real estate without any money, experience, a real estate license, or credit! Cheers & Happy Real Estate Investing! 🏘🚀
What are the cons to wholesaling? It can't be all good right? Is there deadlines attached to properties if you can't find a cash buyer/fixer flipper? Can you be stuck with a property you don't have the money to pay the tax for? Other than those questions thank you for the invaluable information. God Bless!
Hello, Juhriah! Wholesaling is, in our opinion, one of the best ways to get your foot in the door as a real estate investor. A downside would be limited profit potential. Wholesaling typically involves assigning the contract to a cash buyer or fixer-flipper, which means you're selling the property below its market value. As a result, the profit margin in wholesaling can be relatively lower compared to other real estate investment strategies. With that being said, you still will be getting a significant wholesale fee. As you evolve as a real estate investor, you can move into other exit strategies, such as fixing & flipping or even buying and holding the property as a rental. Regarding whether you will be stuck with the property, we always recommend finding and qualifying your cash buyers first before getting deals under contract. This is essential because of the contractual deadlines when you're in escrow on a property. This also will let you know what properties your cash buyers actually want to buy. Therefore, you will only pursue deals with a high likelihood of closing. You also should ensure you have an inspection contingency or another escape clause in case you cannot perform on your end of the agreement. Cheers & Happy Wholesaling, Juhriah! 🏡
@@loveJuhriah You're very welcome, Juhriah! Remember that Wholesaling is just one exit strategy in real estate investing, and you can grow as you learn. 😊
Hey Ahmad! Appreciate the kind words! They mean a lot! Wishing you nothing but success in life & real estate! Definitely shoot us a Subscribe if you haven't yet! We'll be coming out with more real estate content very soon! Cheers!
This is awesome information, I want to start tomorrow. How do you get the contract without showing the agent and seller an approval letter or proof of funds?
Hey there! Appreciate your comment & glad you found it helpful! It’s totally fine if the agent asks for a Proof of Funds! It's actually a good sign you're working with a real estate agent who knows what they’re doing! When an agent asks for a Proof of Funds Letter, then you definitely want to get one and submit it to the agent along with your offer terms in order to have them write up the contract for you! To help you out, here's a link to an article we wrote on exactly how to get a proof of funds letter for free for cash offers: www.realestateskills.com/blog/proof-of-funds-letter?el=evoyt Go through this article when you get the chance because you’ll learn a ton and learn how to get a proof of funds letter for wholesaling real estate & fixing and flipping houses ASAP. In the article, be sure to look at the headings that say: “How To Get Proof of Funds From A Cash Buyer Investor” & “How To Get A Proof Of Funds Letter From A Hard Money Lender” - We wrote out how to get a legitimate proof of funds from those two types of people in the article. Once again, by submitting your legitimate proof of funds along with your offer terms with the agent will give them everything they need to write up the contract for you, and they'll be able to send it over to you to sign. If you're interested in wholesaling, then here's another video I made on how to get started wholesaling with step-by-step instructions: ruclips.net/video/JFnUABPy-A8/видео.html ^I'm sure you'll dig this video! We get asked this question a lot about Proof of Funds so I'll be sure to discuss this topic in our next video! Be sure to hit SUBSCRIBE so you're notified when it comes out ;) Cheers & Happy Investing! 🏘🚀
Hey! Wanted to follow up and let you know we just released new RUclips video on "How To Get A Proof of Funds Letter For Wholesaling (For Free)" here: ruclips.net/video/RGdJ-bquL5E/видео.html ^In the video, I show you exactly how to get unlimited Proof of Funds Letters instantly for all of your wholesale deals the fastest & easiest way possible without having to use any software & without having to make any phone calls. Wanted to let you know since you had the previous question about Proof of Funds Letters! Cheers!
Hello, Larry! We always recommend the opposite of this, actually. You should find and qualify 3-5 cash buyers to give yourself the best chance for success. Once you know their buying criteria, you can look for deals that match what you know they want to buy. Cheers & Happy Wholesaling, Larry! 🏘🙂
I'm very new to this and I'm already running into a roadblock regarding POF. The realtor I'm working with wants to see bank statements as POF (proof of funds). I thought proof of funds was just a letter, not bank statements! I will be doing wholesale double closings. Is there any way to get around this?
Hey there! Excited for you on your wholesaling journey! Technically a Proof of Funds (POF) can be a letter, document, screenshot, or bank statement just showing you as a person, or your company, has the financial ability to perform on a transaction. A literal Proof of of Funds Letter should be sufficient. I'd say that the agent asking for a bank statement is the exception to the rule. There isn't a way to get around a Proof of Funds Letter, you definitely need one for wholesaling on market properties when a real estate agent asks for one. Here's a link to an article we wrote on exactly How To Get A Proof Of Funds Letter below: www.realestateskills.com/blog/proof-of-funds-letter?el=evoyt ^Go through this article when you get the chance because you’ll learn a ton and learn how to get a proof of funds for wholesaling real estate ASAP...including getting a bank statement! In the article, be sure to look at the headings that say: “How To Get Proof of Funds From A Cash Buyer Investor” & “How To Get A Proof Of Funds Letter From A Hard Money Lender” - We wrote out how to get a legitimate proof of funds from those two types of people in the article. I’ll have to make a video on how to get a proof of funds letter pretty soon, too! Maybe that'll be our next video :)
Hi Tavier! Absolutely, you can find deals on Zillow! Zillow is a great resource for on-market properties, and many successful wholesalers and investors use it to source deals. Here’s how to do it: Search for Distressed Properties: Look for keywords like "needs TLC," "as-is," or "motivated seller" in property descriptions. These often indicate sellers who are open to negotiation. Set Up Alerts: Zillow allows you to set alerts for new listings that meet your criteria. This helps you stay on top of potential deals as soon as they hit the market. Filter by Days on Market: Properties that have been listed for a longer time might have sellers who are more motivated to negotiate on price. Analyze Price Drops: Zillow tracks price changes. Properties with recent price drops could signal motivated sellers, which can lead to potential deals. For more information on using Zillow and the MLS to source deals, you might find this article helpful: How to Find Real Estate Deals on Zillow.
When wholesaling, it's possible to wholesale deals before the Earnest Money Deposit is due. If you don't have money for the earnest money deposit and want to deposit it in order to keep the deal going, then you can borrow money from another individual in order to put in the EMD. Here's our guide all about the Earnest Money Deposit in case you want to learn more about them: www.realestateskills.com/blog/earnest-money-deposit?el=evoyt Cheers! P.S. please shoot us subscribe when you get the chance! We'll be sure to come out with more great content on wholesaling, flipping, and all things real estate!
Hello Alex, I’m a RUclips Channels manager here in Los Angeles trying to transition into real estate and I’ve been watching all your videos. It’s encouraged me to start making calls and making offers to agents like you’ve been teaching. I want to register for your course but I’m waiting to close on my 1st deal from watching your videos to prove that it’s possible. Once again thanks all you do 👏🏽👏🏽🙏🏾
Hey Dennis! We're excited that you're excited! Definitely download “The Evolution of a Real Real Estate Investor” Resource for free here if the concepts resonated with you so that they stick! : ➡️ realestateskills.com/evo?el=evoyt In the meantime, please shoot us a Subscribe in case you want to be alerted when our next video will come out! Cheers & Happy Real Estate Investing! 🏘🚀
🔥 Watch our FREE TRAINING to learn how to Wholesale & Flip Houses from the MLS without having to do any marketing: www.realestateskills.com/training?el=evoyt
This sounds good, but I am just so confused about the whole thing. I want to start wholesaling. But I can't get it. It's like I'm getting it and not at the same time.
My questions:
1. How do you find contractors/contracts?
2. I followed your other videos about finding Cash buyers. Are they the ones that pays you?
3. Does it work like this:
You find a house, you find a Cash Buyer, then you call the seller or their real estate agent and make your offer, then call the Cash Buyer and make a higher price offer then what?
I need more details. 😩
Hey Fidel - thanks for the comment! You came to the right place to get rid of the confusion!
Let’s answer those questions:
Q: How do you find contractors/contracts?
You do not have to find contractors in order to wholesale real estate, my friend. That’s the role and responsibility of the Cash Buyer (typically, a fix & flipper). You just need to provide estimates of what the repair costs could be.
When wholesaling houses utilizing the methods we use, you work with real estate agents and the real estate agents provide the contract that needs to be used in order to get a house under contract.
Here, definitely check out this video we made on How To Wholesale Real Estate Step by Step (In 21 Days or Less): ruclips.net/video/JFnUABPy-A8/видео.html
^That video will probably answer a lot of your questions since it goes so in-depth!
After you watch that video, you can check out our other free training on How To Make $10k-$100k+/Month Wholesaling & Flipping Houses WITHOUT any marketing here: www.realestateskills.com/training?el=evoyt
^This training will fill in the rest of the cracks for you about wholesaling!
Q: I followed your other videos about finding Cash buyers. Are they the ones that pays you?
Yes, Cash Buyers are the real estate investors that pay you for getting distressed properties under contract, and you wholesale these distressed properties to these Cash Buyers.
Q: Does it work like this: You find a house, you find a Cash Buyer, then you call the seller or their real estate agent and make your offer, then call the Cash Buyer and make a higher price offer then what?
Close! You definitely want to find & talk to Cash Buyers first in order to make sure you can go out and find the exact properties that they want. This saves time and allows you to work smarter rather than going out and putting a random house under contract and guessing that a Cash Buyer would want it.
It sounds like you want the exact steps laid out, so here’s the video laying out wholesaling step by step :) ruclips.net/video/JFnUABPy-A8/видео.html
Sure hope you enjoyed the video!
Please shoot us a LIKE & SUBSCRIBE if this was helpful, Fidel!
Cheers & Happy Real Estate Investing! 🏘🚀
building key relationships when wholesaling to fix/flipers is great point
Can’t agree more, Nick! Thanks for checking this video out & leaving a comment! Sending you nothing but great thoughts!
Please shoot us a Subscribe if you haven’t yet & you’ll be notified when the next video comes out!
Keep on crushing it in real estate & life!
thanks for reiterating success is making at least 15 offers to secure one signed contract
You got it, Nick! It's extremely important to have the right expectations on how many offers need to be sent in order to get a wholesale deal, or even a fix & flip deal! Most amateur wholesalers & real estate investors think they'll send one or two offers and get a deal when really that's not typically the case. Every "no" we get, gets us closer to the "yes" we need! Cheers!
Ready to get started. Have access to a little cash but apprehensive on where to get started. This was a great video!
Hello, Bojoul Selfcare! That is awesome to hear you're ready to get started in real estate investing. We love to hear when our viewers love our videos.
If you're still feeling apprehensive on where to begin, we suggest taking a look at our free training.
Here is a link: realestateskills.com/training?el=evoyt
Once you've had time to go through that you can set up a time to talk with our team and see if we can assist you any further. 😊
We look forward to hearing from you soon, Bojoul Selfcare! 🏠🚀
I am grateful for the guidance and support provided by Alex and highly recommend them as a mentor to anyone looking to improve their understanding and skills
Thank you, Altaf! We appreciate the love and are happy you're learning from our content!
Cheers & Happy Wholesaling, Altaf! 🏘💙
I love how he starts with the end in mind --> buying and holding for long-term wealth. That's where real wealth is created. Though, wholesaling real estate is clearly the best way to actively get into real estate without any money, a real estate license, or a ton of experience or connections. This way, property investors and entrepreneurs can learn the real estate business, accumulate capital, build relationships, then ultimately invest in the assets that they are now so familiar with. Great stuff, Alex!
Appreciate it! Teamwork makes the dream work ;) 🏘🚀 Much love!
Hey Alex, I got 2 quick questions.
1) When wholesaling, and in contact with a sellers agent, what do I do as the wholesaler when the agent asks for Proof of Funds? Would we be able to obtain that from our cash buyers?
And
2) Would it be wise, for the deals sake, to disclose from the beginning that we are in fact wholesalers or just simply investors (as not to deter agents)?
Me and my wife watched your step by step guide and have decided that this is our starting place in the world of RE Investing. Thank you for sharing your knowledge, as well as presenting it in a way that's easy to understand and follow!
Hey Lizard in a Tux (love the name lol)!
To answer your first question, we just released this RUclips video today on "How To Get A Proof of Funds Letter For Wholesaling (instantly & for free)" here: ruclips.net/video/RGdJ-bquL5E/видео.html
^You can use the steps in that video to get a proof of funds for when an agent asks for one. I provide a ton of other helpful tips in the video on how to think about the proof of funds letter to increase the quality & credibility of your offers, too.
You'll see in the video that you can get a proof of funds without having to contact any cash buyers. However, if you do want to get a proof of funds letter from one of your cash buyers, then follow the steps in this article we wrote here: www.realestateskills.com/blog/proof-of-funds-letter?el=evoyt
^In the article, be sure to look at the heading that say: “How To Get Proof of Funds From A Cash Buyer Investor”
For your 2nd question... it's better to represent yourself as an investor (which is the truth) rather than a wholesaler. This is because there are too many people that watch one youtube video and think they know everything about wholesaling...these amateurs then go out and talk with real estate agents and give wholesalers a bad name (because they have no idea what they're doing). And it's actually the newbies that tell agents that they are "wholesalers". So, definitely let agents know you're an investor and not a wholesaler! (I mention this in the step by step video, too)
Wow so glad that you've found our videos and feel confident in using wholesaling as your entry point into real estate investing! :) It's a proven path and can't wait for you to keep on diving in!
Remember, it's about the journey. You're going to make everything that you want & need happen as long as you STICK TO IT!
Crush it!
So do I most go over your head,but I understand that you do this so it’s second nature to you,and hard to break it down in lay man’s terms
Best explanation of how to build real estate wealth
Much appreciated, Vicki! We love sharing this path because it truly is attainable for anyone to make this happen. Sending lots of love, great vibes, and hope you have a wonderful day, month, and year! Time to keep making great things happen!
Great video!!
Thank you, OTSpirit! 😊
Hey Alex,
If I were to put save a lot of money to get a low mortgage after wholesaling couldn’t I skip the fix/flip step? Say I found a house for $400,000, and got my mortgage down to 1000-1200/mo.. couldn’t I just rent for 1500-2000/mo and maintain profit?
Hey!
Yes, you absolutely can skip the fixing & flipping step and solely use the income you make from wholesaling to buy rental properties. We have a saying that we personally like which is "Fix & Flip the best & Wholesale the rest!" Meaning, when a deal comes across your plate that has a high likelihood of being a great fix & flip deal, then we like to take it down as a fix & flip. If we have too many projects going on, or don't like the repairs needed on the property, then we wholesale it.
Cheers & wishing you nothing the best on your real estate journey! Please shoot us a subscribe when you get the chance! We'll be coming out with tons more content we think you'll enjoy!
Do I need to have a good credit to wholesale house?
This is a great question, @janetrodriguez9801! No you do not. You will be bringing a buyer to the deal that is paying cash for the property so you're not needing to qualify for a loan.
Cheers! 🏠
Feel grateful to be able to directly learn from you. Thank you, Alex :)
Hey Emil! Appreciate the comment! Grateful you're watching & listening, my friend! If you haven't yet, please shoot us a Subscribe & a Like so you know when our next video comes out ;)
Cheers & Happy Real Estate Investing! 🏘🚀
Hey Alex my question is where do you get the contracts from to make the agreement solid
Hello, Brudren! Typically the agent you're working with will make the contract. You still should always read through to ensure everything you agreed upon is there.
Cheers! 🏠
WOAH! Thank you for showing me exactly how to get into real estate with no money! Love the wholesaling approach to getting started without any money or experience! 💯😎
Glad it was helpful, Sosa! Appreciate the kind words. The goal was to make this the most clear & straightforward video on RUclips on how to get into real estate without any money, experience, a real estate license, or credit!
Cheers & Happy Real Estate Investing! 🏘🚀
What are the cons to wholesaling? It can't be all good right? Is there deadlines attached to properties if you can't find a cash buyer/fixer flipper? Can you be stuck with a property you don't have the money to pay the tax for?
Other than those questions thank you for the invaluable information. God Bless!
Hello, Juhriah! Wholesaling is, in our opinion, one of the best ways to get your foot in the door as a real estate investor. A downside would be limited profit potential. Wholesaling typically involves assigning the contract to a cash buyer or fixer-flipper, which means you're selling the property below its market value. As a result, the profit margin in wholesaling can be relatively lower compared to other real estate investment strategies.
With that being said, you still will be getting a significant wholesale fee. As you evolve as a real estate investor, you can move into other exit strategies, such as fixing & flipping or even buying and holding the property as a rental.
Regarding whether you will be stuck with the property, we always recommend finding and qualifying your cash buyers first before getting deals under contract. This is essential because of the contractual deadlines when you're in escrow on a property. This also will let you know what properties your cash buyers actually want to buy. Therefore, you will only pursue deals with a high likelihood of closing.
You also should ensure you have an inspection contingency or another escape clause in case you cannot perform on your end of the agreement.
Cheers & Happy Wholesaling, Juhriah! 🏡
@@RealEstateSkills thank you!
@@loveJuhriah You're very welcome, Juhriah! Remember that Wholesaling is just one exit strategy in real estate investing, and you can grow as you learn. 😊
WOW! GREAT TESTIMONY EVIDENSE I CAN WIN.
💙
Cheers & Happy Wholesaling, San! You got this! 🏡
Ales is great guy that I really recommend and respect he teaches us for free that is so appreciated
Hey Ahmad! Appreciate the kind words! They mean a lot! Wishing you nothing but success in life & real estate! Definitely shoot us a Subscribe if you haven't yet! We'll be coming out with more real estate content very soon!
Cheers!
This is awesome information, I want to start tomorrow.
How do you get the contract without showing the agent and seller an approval letter or proof of funds?
Hey there! Appreciate your comment & glad you found it helpful!
It’s totally fine if the agent asks for a Proof of Funds! It's actually a good sign you're working with a real estate agent who knows what they’re doing! When an agent asks for a Proof of Funds Letter, then you definitely want to get one and submit it to the agent along with your offer terms in order to have them write up the contract for you!
To help you out, here's a link to an article we wrote on exactly how to get a proof of funds letter for free for cash offers: www.realestateskills.com/blog/proof-of-funds-letter?el=evoyt
Go through this article when you get the chance because you’ll learn a ton and learn how to get a proof of funds letter for wholesaling real estate & fixing and flipping houses ASAP.
In the article, be sure to look at the headings that say: “How To Get Proof of Funds From A Cash Buyer Investor” & “How To Get A Proof Of Funds Letter From A Hard Money Lender” - We wrote out how to get a legitimate proof of funds from those two types of people in the article.
Once again, by submitting your legitimate proof of funds along with your offer terms with the agent will give them everything they need to write up the contract for you, and they'll be able to send it over to you to sign.
If you're interested in wholesaling, then here's another video I made on how to get started wholesaling with step-by-step instructions: ruclips.net/video/JFnUABPy-A8/видео.html
^I'm sure you'll dig this video!
We get asked this question a lot about Proof of Funds so I'll be sure to discuss this topic in our next video! Be sure to hit SUBSCRIBE so you're notified when it comes out ;)
Cheers & Happy Investing! 🏘🚀
Hey! Wanted to follow up and let you know we just released new RUclips video on "How To Get A Proof of Funds Letter For Wholesaling (For Free)" here: ruclips.net/video/RGdJ-bquL5E/видео.html
^In the video, I show you exactly how to get unlimited Proof of Funds Letters instantly for all of your wholesale deals the fastest & easiest way possible without having to use any software & without having to make any phone calls.
Wanted to let you know since you had the previous question about Proof of Funds Letters!
Cheers!
Is good to find a deal first then talk with cash buyers?
Hello, Larry! We always recommend the opposite of this, actually. You should find and qualify 3-5 cash buyers to give yourself the best chance for success. Once you know their buying criteria, you can look for deals that match what you know they want to buy.
Cheers & Happy Wholesaling, Larry! 🏘🙂
@@RealEstateSkills someone sent me info on property Rv $1.5 abenstee owner 100% equity 5 units I was told these are deals to look for is this true?
@@RealEstateSkills Thank you
I'm very new to this and I'm already running into a roadblock regarding POF. The realtor I'm working with wants to see bank statements as POF (proof of funds). I thought proof of funds was just a letter, not bank statements! I will be doing wholesale double closings. Is there any way to get around this?
Hey there! Excited for you on your wholesaling journey! Technically a Proof of Funds (POF) can be a letter, document, screenshot, or bank statement just showing you as a person, or your company, has the financial ability to perform on a transaction. A literal Proof of of Funds Letter should be sufficient. I'd say that the agent asking for a bank statement is the exception to the rule. There isn't a way to get around a Proof of Funds Letter, you definitely need one for wholesaling on market properties when a real estate agent asks for one.
Here's a link to an article we wrote on exactly How To Get A Proof Of Funds Letter below: www.realestateskills.com/blog/proof-of-funds-letter?el=evoyt
^Go through this article when you get the chance because you’ll learn a ton and learn how to get a proof of funds for wholesaling real estate ASAP...including getting a bank statement!
In the article, be sure to look at the headings that say: “How To Get Proof of Funds From A Cash Buyer Investor” & “How To Get A Proof Of Funds Letter From A Hard Money Lender” - We wrote out how to get a legitimate proof of funds from those two types of people in the article.
I’ll have to make a video on how to get a proof of funds letter pretty soon, too! Maybe that'll be our next video :)
Can I find deals on Zillow?
Hi Tavier!
Absolutely, you can find deals on Zillow! Zillow is a great resource for on-market properties, and many successful wholesalers and investors use it to source deals. Here’s how to do it:
Search for Distressed Properties: Look for keywords like "needs TLC," "as-is," or "motivated seller" in property descriptions. These often indicate sellers who are open to negotiation.
Set Up Alerts: Zillow allows you to set alerts for new listings that meet your criteria. This helps you stay on top of potential deals as soon as they hit the market.
Filter by Days on Market: Properties that have been listed for a longer time might have sellers who are more motivated to negotiate on price.
Analyze Price Drops: Zillow tracks price changes. Properties with recent price drops could signal motivated sellers, which can lead to potential deals.
For more information on using Zillow and the MLS to source deals, you might find this article helpful: How to Find Real Estate Deals on Zillow.
What about EMD ?
When wholesaling, it's possible to wholesale deals before the Earnest Money Deposit is due. If you don't have money for the earnest money deposit and want to deposit it in order to keep the deal going, then you can borrow money from another individual in order to put in the EMD.
Here's our guide all about the Earnest Money Deposit in case you want to learn more about them: www.realestateskills.com/blog/earnest-money-deposit?el=evoyt
Cheers!
P.S. please shoot us subscribe when you get the chance! We'll be sure to come out with more great content on wholesaling, flipping, and all things real estate!
Hello Alex, I’m a RUclips Channels manager here in Los Angeles trying to transition into real estate and I’ve been watching all your videos. It’s encouraged me to start making calls and making offers to agents like you’ve been teaching. I want to register for your course but I’m waiting to close on my 1st deal from watching your videos to prove that it’s possible. Once again thanks all you do 👏🏽👏🏽🙏🏾
Hey! Appreciate the love! Way to take action. That's what it's all about! Make it happen, amigo. You got this!! Cheers!
Can nt wait to get started
Hey Dennis! We're excited that you're excited! Definitely download “The Evolution of a Real Real Estate Investor” Resource for free here if the concepts resonated with you so that they stick! : ➡️ realestateskills.com/evo?el=evoyt
In the meantime, please shoot us a Subscribe in case you want to be alerted when our next video will come out!
Cheers & Happy Real Estate Investing! 🏘🚀
Amazing video
Thank you, Felt! 💙