No Money? No Problem. Get Proof of Funds to Wholesale Deals

Have you ever made an offer to an agent and they've said, hey, send me proof of funds and you get stuck and you're like, I don't have proof of funds. Well, today we're going to be going over how to get proof of funds. Stay tuned. By the end of this video, I'm going to show you all the ways that you can get proof of funds, all the strategies, and we're going to break this thing down so you never get stuck when an agent or a seller that you're talking to asks you for proof of funds to see if you're legit. Also, by the end of this video, I'm going to show you and answer you, what are proof of funds? What the heck does that even mean? Proof of funds. Why you need them. Why does someone even ask you for proof of funds? Like, why are they even bothering with that question? And how do you get them? Where are you going to get these proof of funds? Can you just, you know, go online and ask Google and it'll make you some, or ChatGPT will make you? Where do you get this stuff? We're going to dive right into it right here. So what are proof of funds? In a nutshell, proof of funds are showing proof that you have money to purchase the property. So an agent will ask you for proof of funds if they don't think you have the money, usually because when I talk to an agent, they usually don't ask me if I have proof of funds just because when I talk to them, maybe I sound like I'm an experienced— not maybe, I am— I sound like an experienced investor. So they don't ask me for proof of funds like 90% of the time. But if you're getting that question right off the bat, it's probably because you sound like you don't know what you're doing, which is okay. It happens. They're going to say, hey, I'm going to need to see some proof of funds to see if you're legit. But proof of funds are just a verification that you have the money or you have a hard money lender or someone that is giving you the funds so you can buy this property. It's just a way for them to check and see if you're legit. Why do you need proof of funds? Well, like I said, I just answered it. You need proof of funds so people can see that you have the capacity or the ability to even purchase the property. Agents ask for proof of funds all the time to verify who they're working with actually can get the deal done. Now, the problem with proof of funds is anyone can get a proof of funds. Like, it's not that difficult. I can get one anywhere and through the strategies I'm going to show you. But it's just their way of kind of mitigating and making sure that whoever they're talking to can actually deliver and they're not dealing with someone that is just wasting their time. That's why they're asking for proof of funds. So how do you get proof of funds? Where the heck do you find these proof of funds if you don't have $1 million or half a million dollars sitting in your bank account and an agent or a seller asks you for proof of funds? Where do you find this? Well, I have a video that I've made that goes really in-depth that's going to answer that specific question on actually how to get it, because that's the main question is how do you get the proof of funds so you can come off legit and you can get deals done and they're not questioning if you're serious or not. So before I get into how do you get proof of funds, I want to invite you to my masterclass. I do a free live masterclass where I actually show you how to do this business from start to finish. Go to painlesswholesaling.com and you can register for absolutely free. I give you my assignable contract for free that I've used, battle-tested, battle-approved, and I'll give that to you for coming. Coming because I want to help you succeed. So let's dive right into that video on how to get proof of funds because I want you to get proof of funds so next time you make an offer you don't get, you know, chilling with your pants down because you don't know what to say. I'm trying to help you avoid that. So let's dive right into this video.

So you're dealing with on-market— sorry, this is the sales process, but it's going to be under making offers and tools to make offers that get accepted and establish credibility with sellers. Okay, so this is a tool that you're gonna have that you can go get. All right, so again, this might happen to you guys a lot. Like, okay, sellers are like, hey, show me some proof of funds. Are you guys— are you really legit? Okay, again, this only happens if they don't really trust you or they don't feel like you're legit. But so it's never really a problem having proof of funds because you can get proof of funds from anywhere. The issue is them saying that, and what you got to do is you got to call that out. So if a seller says, hey, do you have proof of funds? I'd say, yeah, that's a really good question. You must be asking that because you just you probably want to make sure I'm credible. Is that right? Yeah, no, I just want to make sure whoever I'm doing business with has money. Totally understand that. So I'm gonna actually show you not only that I have proof funds, but I'm gonna go a step beyond that. I'm actually gonna give you some more information about my company and the reviews we have. So now that doubt that that seller has completely squashed, because I understand why they have that doubt. I called it out, and I'm gonna go a step further. Then after, I'm gonna say, hey, is there anything else I can do for you to make you feel like, you know, I'm the guy you want to do business with? Oh, they're like, no, no, you're good. I just wanted to make sure. So call it out. So when someone brings up a concern, say, hey, you must be saying that because of this. And if it's wrong, they're going to tell you, oh no. So again, let's role play it. So, hey, do you have proof of funds? That's a really good question. I mean, you must be asking that because you want to make sure that, you know, I have the money to buy this house. Have you had any issues with anybody else, like, buying your house before? No, you know, actually, I was under contract before with someone else. Well, what happened? So then sometimes they don't even care about the proof of funds. You just gotta, you know, talk to them and call their concern out. But if you guys really want a proof of funds, here it is. This is how you do it. Okay, so I've made step-by-step on how to get one. So if a seller agent is asking for proof of funds, that usually means they're skeptical about your ability to close. Off-market sellers rarely ask for proof of funds unless they're really skeptical about you. I have not had an off-market seller that's just selling their house directly to me asked for proof of funds probably in the last 3 years. Okay. So, but here's how to get one. If you want to feel comfortable, reach out to private money lenders in your area and ask for proof of funds. Okay. Here's a list of over 4,000 private money lenders that I'm giving you guys for absolutely free. Here it is in Investors Live Resources. You can check out what cities they cover, what states, and you can call them and you can say, hey, I'm looking for, um, I'm looking for a proof of funds so I can make offers. Hit these people up. Okay. Super simple. No big deal. Okay. That's a list for you guys. All right. Proof of funds documents. So this is what they usually look like. This is my proof of funds for my hard money lender. That's what it looks like. Oh, sorry. This is Jerry Norton's proof of funds. Okay. I mean, it works and sometimes it doesn't work, but it's super basic. All you do is just change the number that you want to get approved for. And the address. Bam, easy. But this is the proof of funds that I have for my hard money lender. It's just addressed to my LLC, and it's just— you have this certain amount. So it's funds are available over $700,000, blah blah blah, and it's like on a company letterhead. That's what hard money lenders will get you. Okay, just reach out to one. They want to fund you, so they'll give you a proof of funds letter. Very easy to get one. Okay, another thing, a lot of people are like, well, I want to see if you're really legit. Let me see a screenshot of your bank account. Just go— what I did is that this is an example, you don't have to use this, but you can just take a screenshot of your bank account or go online and get one off of Google and just say, hey, this is my business partner's bank account. We do a lot of deals together, um, he's going to be in the transaction. I mean, whatever, they just need to feel secure, uh, that you can get the deal done, okay? And you can send them a screenshot of a bank account that you have, someone you know of someone online, you can go post in local investor Facebook groups. Like if I go here right now to Facebook and I just go to— I'm actually going to do a post for you guys so you can know exactly how to do it. While that's loading, let's see what else. Okay, this is the last step. So we're going to go to Utah Real Estate Investors. Utah Real Estate Investors. And by the way, it's just real estate investor groups, and if it's any state you're in— Michigan, Utah, Atlanta, Georgia, whatever— so you just go here, you say— we actually write the post out, something simple like, hey, I'm making a lot of offers on the MLS and agents are asking me for proof of of funds letter. Are there any private or hard money lenders, lenders willing to give me a proof of funds so I can send it to them? I will I would love to use you as my lender if you can help me out. I would love to use you as my lender and network if you can— if you can— huh? Oh no, I'm still eating, man. Thank you, I appreciate it though. Chick-fil-A, way to go. I would love— I love to use you as my lender network if you can Help me out. Okay guys, I already have a hard money lender, but I'm just, uh, I'm making this post for you guys so you guys can see it. So this is simple. It's just common sense. You're just asking someone for proof of funds and hard money lenders, like they want to give you their money because they, that's how they make money. So they're going to do it. So I'm just going to put this picture in here, take a screenshot, blah, blah, blah. Okay. I put in the wrong place. I guess that's cool to leave it there. Anyway, that's it guys. In the end, if you show a seller you are experienced and credible, they won't really ask for proof of funds. This is the credibility packet I give the sellers just to show I'm legit. I made this. You can go make your own in Canva. It just kind of outlines your business. You know why you're legit. Let me show you this. I send this to sellers so they know I'm the truth. So it just goes over my company. It says it's a letter to them saying, hey, this is who we are. This is our team. Some testimonials that are real. If you don't have real ones, go get, you know, make them up until you have some. FAQs, answer questions. This is my proof of funds, but even if I didn't have this, I'd send this to them and I'd say, this is what happens if we sign the contract. So I send this to them and they're like, dang, this guy actually works for a legit company. He answers all my questions. I don't even need a proof of funds anymore because I trust them. So guys, just take it for what it is. If the seller's asking for proof of funds, they usually don't trust you. Or if it's an agent they've never done business with you and you just need to say that's just chalk it up to agents are probably going to want it more than off market. If off market wants it, then just call it out and say, hey, it's really, really interesting you ask that. You know, is it, is there any issue? Like, you know, I've done a lot of business. I don't really give— I don't have to give a proof of funds out there because I do many deals. Like, you know, you must be asking that because you just want to make sure I'm legit. So that's, that's kind of how you overcome it. Again, guys, this right here is the ultimate guide. The painless wholesaling guide literally has everything you need from contracts, scripts, to how to get proof of funds. I'm constantly building out. Ask me a question and I'll put it in here. It's probably already in here.

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