Tyson Smith explains what proof of funds means in real estate deals. Sellers rarely ask for it, but you can provide a bank screenshot if you have cash, or get a letter from a hard-money lender confirming you're approved to buy a specific property for a set amount.
What do they want specifically for proof of funds? Guys, people never ask for proof of funds. I've done hundreds of deals. I can count on one hand the amount of time people have asked me for proof of funds. But if they did ask me for that, there's multiple ways. You can send them a screenshot of your bank account if you do have the proof of funds. More than likely you don't though. So let's say you don't have the money. Call up a hard money lender, say, hey, I'm looking at flipping this property. Could you send me a proof of funds for whatever you're gonna offer them for the property? And then send them that. There'll be a letter and it'll say, hey, hard money lender approves Tyson Smith for purchasing this property at this address for $150,000 or whatever, and then that's good for proof of funds.
Join My Luxury Wholesale Coaching Call For FREE // Tyson Smith & Matthew Tooker
