Having a Proof Of Funds letter is one of the first steps to making house offers and kickstarting your real estate investing.

What Is A POF?

A Proof Of Funds Letter or POF, is a letter or financial statement showing how much money you have available.

In real estate, this is used to show property sellers and agents how much cash you have. This shows proof that you can afford to pay for the property and back up your house offers or letters of intent.

This may be evidence you can pay all cash, or in tandem with a mortgage pre-approval letter from a lender.

When Do You Need A POF?

Most Realtors will not even show you a property without having a POF in advance. They guard their time, and will often not even entertain your inquiries unless you can produce one upfront.

So, without it, you won’t be able to see inside properties or make offers on any MLS listings or pocket listings agents may have.

Savvy sellers, including other real estate investors will also expect the same. They are often bombarded with inquiries and offers from unqualified buyers, including wannabe investors. Often these sellers know the game even better than agents.

Then you have institutional sellers, like banks, lenders, and private equity funds. Their requirements for making offers can be even more rigorous. Going beyond a POF, to also including seeing your resumes, financials, and track record of how you’ve handled pools of assets you’ve previously acquired.

Picking The Right Buyer

For these sellers and their representatives, it’s not just about the money. They know that picking and going into contract with the right buyer is even more important than the price being offered.

Nothing is more aggravating than having a deal fall apart right before it was supposed to close. A Proof Of Funds letter not only shows that you are financially capable of completing the transaction, but that you are organized, prepared, understand the transaction process, and are ready to move swiftly.

Get in touch with us today for help with your Loan Pre-approval and Proof Of Funds needs today!

 

This is an amazing time to be a real estate investor. How do you get more offers accepted, and more house deals done?

The Market Is Hot

The summer 2020 market is sizzling hot. This is always peak time of the year in most US housing markets. It’s when the vast bulk of homes are listed, sold and bought and people are on the move.

This year is shaping up to be busier than ever. Between the coronavirus lock downs and riots even more people are hyper motivated to move and invest in real estate. Recent data suggests the market is active, and house prices have continued rising.

So, what’s holding you back from making this your beast season in real estate yet?

It probably all comes down to getting more house offers accepted.

Get More Inbound Leads

Inbound real estate leads are the most efficient to work, easiest to close and most profitable.

No one may want to touch their mail these days, but you can still leverage a good looking website, SEO and content marketing and Google Ads.

This may be even easier today after some of the biggest iBuyer competitors like Zillow and OpenDoor have reportedly dropped out of the race.

Make More Offers Daily

Real estate is a numbers game. Not every offer you make will be accepted. So, if you want to get your numbers up, you have to make more offers every day. If you want to close a deal a day you might have to be firing out five offers a day.

Be A Strong Buyer

The number one roadblock to getting house offers accepted is credibility. Agents and sellers are scared of contracting with buyers who don’t really have the money to close.

Get a Proof Of Funds Letter, or get one of our VODs to nail far more offers and stand out as the best buyer.

 

What’s the difference between a Proof Of Funds Letter and a Verification Of Deposit?

These two important documents are vital for real estate investors out there making offers on houses. In fact, without one, no seller or agent may want to spend their time talking to you. Much less actually showing you homes or letting you inside. Most certainly won’t accept a purchase offer from you.

They’ve had enough of time wasters and scammers. They want to be sure you can really buy this property.

POF Letters

A Proof Of Funds Letter (POF) says that you have enough money available to you in order to purchase this property. It’s your ticket in the door and to make an offer and get the property under contract.

The only other option here at this stage is really a pre-approval letter from a respected mortgage company. Even then, some may want to see proof of funds for the balance you’ll be bringing.

Check out our FREE POF Letter here, and get out there to make offers.

VODs

A Verification Of Deposit Form (VOD) is the next level up from a POF letter. A VOD if a form completed by the bank, verifying how much money is in an account. It is more concrete than a POF letter. Agents and sellers know that the bank can’t make these numbers up.

We’re increasingly seeing Realtors and home sellers ask for VODs over POFs. They want something more tangible before risking letting someone in their home, driving around with you, or tying up the property in contract.

The savvier the seller, the more likely they are to demand a VOD. This is especially true of deals on HUD homes.

Having this document in hand will streamline the process of doing more deals, and greatly increase your ability to win the bid and seal the deal fast.

Check out our $99 SPECIAL VOD OFFER NOW.

Still confused, or not sure which you need? Contact us and talk to a pro for free right now...

 

Having a niche is important in real estate. There are many more to choose from than most think. Here’s 25 to consider…

Probate and inherited properties

Single family homes

Waterfront condos

Houses with docks and boat slips

Townhouses and gated communities

Cheap and affordable real estate

Green and sustainable homes

Smart homes and technology

High end luxury real estate

Cabins in the mountains

Beach area cottages

International properties

Multifamily apartments

Vacant lots and land

Commercial office buildings

Retail shopping plazas and malls

Mixed use properties

Industrial and warehouse

Income properties

Condemned units and teardowns

Urban micro-lofts

Pet friendly properties

Co-ops

Ranches and rural

Mobile and manufactured housing

Start by finding a good fitting niche for your talents, connections, and what you are passionate about. Dominate that. Become the expert and go-to resource for sellers and buyers. Then expand geographically or into other verticals which can help diversify your income streams, or help feed your lead funnel, or convert missed opportunities.

You can do this all under one brand, or use multiple brand names to really connect with prospects and elevate marketing ROI. There are plenty of choices, and you can mix, match, combine and overlay the above niches, and blend them with other things you are passionate about. For example; Affordable waterfront golf course townhomes in South Florida.

What’s your niche?

Authored by Best Transaction Funding. Where real estate wholesalers come for 100% financing, fast cash, and easy closings for highly profitable transactions. Get in touch and get your Proof of Funds letter so you can make more offers today.

Need some cool Valentine’s Day gift ideas for a property wholesaler in your life?

Check out the new list for 2017…

Thank You Cards

If you are in real estate the chances are that you have a few wholesalers which play a role in your business. They rarely get the appreciation they deserve. Whether you are an agent helping them move inventory, a rehabber buying it, or a partner or family member, a thoughtful thank you card can be really appreciated.

Leads

There is nothing that real estate wholesalers love and need more than leads. It probably won’t cost you a dime either. Yet, can be hugely valuable for the recipient. Know anyone looking to buy or sell property, or have seen some vacant homes around the neighborhood which could use a new buyer? Get the info and pass it on.

Drones

Drones are still in. They’ll help your wholesaler create the best photography and marketing presentations so they can flip houses faster.

A Stylist

Real estate wholesalers are typically not famous for their fashion. Yet, branding is becoming more and more important. Take them on a shopping spree, or get them a stylist from a boutique firm like Ensemble who can help them create the perfect wardrobe.

Education

You can never learn too much. There is always something more to learn and master in real estate. Help your wholesalers with the gift of new learning courses or tickets to an industry event.

Vacations

Valentine’s is the ideal time for romantic getaways. Send your favorite wholesaler off on a trip so that they can recharge and come back on top of their game. Mexico, Florida, and the Dominican Republic are all top choices this season.

Funding

You just can’t have access to too much cash in this business. Turn your wholesaler on to new sources of funding for their deals. It could be connecting them with a private lender, giving them some capital to invest for you, or introducing them to transactional lenders.

 

Authored by BestTransactionFunding.com - the BEST source of transactional funding for real estate wholesalers. Log on and get your free Proof of Funds Letter from us today!

The outcome of the 2016 US presidential election looks set to spur a new boom for real estate wholesalers.

No matter who you voted for the election results, and Donald Trump win is expected to create a flurry of real estate investment activity. Property wholesalers who move fast stand to benefit big from this action. Especially those who know how to market themselves well.

Many Clinton supporters swore they would leave the US if Trump won. If they stay true to their word many could be packing up to head to Canada, the Caribbean, and Mexico. That is likely to mean a sizable number of property owners at all levels of the spectrum looking to shed their real estate fast. Who better to help than wholesalers?

Trump believers are no doubt ecstatic. There is no question that many specifically voted Trump for the perceived benefits to their real estate investments, taxes, and healthcare costs. For them it is time to get busier than ever putting their capital into the US property market and expanding with new acquisitions. Wholesalers and agents should be seizing on this opportunity to serve the surge in demand, especially with the additional inventory which may be coming online. As of the end of trading November 9^th, the NASDAQ, DOW, S&P 500, and gold prices were all up. Don’t be surprised if some asking and bidding prices go the same direction by the end of the year as well.

The real icing on the cake could be a reversal of recent international investment trends. The National Association of Realtors had reported foreign investment in real estate falling by over $1B in 2016. With the uncertainty over, and a president known for being big on real estate in the White House we could see some of those investors coming back, and with more capital to buy income properties.

Whatever the other fallout from the election results may be, let’s just hope for non-violence. React with your investment portfolio and strategy as you see fit. Take advantage of what we do have. And let’s try to get along, whether delighted or depressed by the results.

 

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding for real estate wholesalers in the US. Get your Proof of Funds letter today and start doing those deals!

Labor Day is here and it reminds experienced real estate wholesalers to leap into action…

There are many ways in which Labor Day brings important opportunities for property wholesalers. Here are 5 to put into play this 2016 Labor Day weekend, and over the other coming long weekends the rest of this year.

Holiday Sales

Labor Day sales offer the opportunity for real estate business people to grab supplies and even take advantage of deals on services at a discount. Use this opportunity to make your budget go further.

Real Estate Marketing

With more prospects at home and with more prospects with free time to read marketing messages this is a great time to up your game and make those connections. Write those contracts and take advantage of the current market.

Open House Events

This is the ideal time to host open house events. Tailor them to your ideal prospects. This could be real estate tours, cocktail parties, charity fundraisers, of family BBQs.

Teach Your Kids About Real Estate Investing

This is a great time to pass on your knowledge to your kids, and equip them for a successful life. Teach them what to look for in homes, how to collect information from FSBO signs, and some basic DIY skills.

Celebrate

Work is a gift. It’s great to be able to work in real estate and invest in it. Millions may never have that opportunity. Take time off to celebrate that, and recharge before hitting it hard again after the holiday. Set a good example for those around you of how to work hard, and take care of yourself, and to seize these moments to enjoy quality time with those you care about.

 

Authored by Best Transaction Funding - the leading source of transactional funding for real estate wholesalers, where 100% financing, and saying “Yes” is what we love doing all day long. Request your Proof Of Funds Letter today!

How can real estate investors kick risk to the curb, and maximize the upside?

Few, if any investments are 110% risk free. Yet, the most admired billionaire investors know how to cut that exposure, and keep the green coming in no matter what the forecast is. Here are six ways to avoid losses even in the worst case scenarios, and stay flush while others are floundering to figure out their next move…

1. LLCs

If you are investing in real estate you need to incorporate. Period. There are no good excuses not to. Filing an LLC can cost as little as around $100, and can be done online in minutes. It is also the door to more potential tax breaks, and absolutely key to opening more doors to real estate funding today. Do it now.

2. SD IRAs

Stocks are taking a beating, and Harry S. Dent who successfully called the previous crashes expects the Dow to tumble more than another 50%! Consider rolling over existing retirement accounts to self-directed IRAs and reallocating those funds in direct real estate investments. If you don’t have one talk to your tax pro about which options can allow you to contribute the most, and reduce your tax burden the most this year. You still have till April 15^th to get the break for 2015. IRAs are also typically protected in bankruptcy and judgments. So if things really get ugly out there you still shouldn’t lose your IRA, or your real estate holdings.

3. Stay Liquid

Liquidity is key to safely and successfully navigating the unexpected in real estate according to billionaire investor Sam Zell. If you’ve got liquidity you can sail through anything. Bulk up on cash by wholesaling properties, and using 100% transactional funding whenever possible.

4. Due Diligence in Advance

The more due diligence investors do in advance, the less cash they’ll burn, and the better their profit margins. It only takes seconds to Google potential vendors, and look up property records from your phone. Compass Land and Title in Florida now also recommends sellers obtain a title search prior to listing properties to avoid any challenges during transactions.

5. Multiple Exit Strategies

You already know not to get into a deal until you know how you are going to get out. Of course that first exit plan, or resale buyer or tenant doesn’t always work out. If that was your only exit you could be in some hot financial water. It could tank everything else you are doing. Instead go in with multiple exit strategies for every deal. If you can’t wholesale it can you rehab it? If it doesn’t sell retail can you rent it?

6. Build that Buyers List

Eventually you are going to sell that property to cash out and tally your total net gains or loss. Savvy investors, and especially real estate wholesalers build those buyer lists in advance. Register everyone interested in purchasing a property. Get them to provide mortgage pre-approval letters or Proof of Funds (POF) letters so you know you’ve got a qualified prospect. If you are low on buyers consider collaborating with other investors. Avoid long chains, but do know that there are hundreds of cash heavy investors out there desperate for deals.

Have any tips of your own to add? Let us know on Facebook or Twitter…

Authored by Best Transaction Funding - the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.

Do you hold the master keys to winning at wholesaling houses this year?

2016 is expected to be a tremendous year for US real estate. However, there is no question that competition and property prices have increased too. What’s the secret to getting in the game, or scaling your wholesaling business over the coming months?

Financing

Having the money lined up is critical for being able to act fast in this market. Investors are not going to be able to seize on the best investment opportunities fast enough unless they already have the money lined up. If you are out there making multiple offers a week that means having a lender behind you. Even if you have cash to make a purchase or two; the enhanced ROI and liquidity of hard money loans and transactional funding is going to be critical.

Know Your Market Better

If you take too long to evaluate properties they’ll be gone. Investors will always want to back up their assumptions with comps, but every minute counts. Sensei Gilliland of Black Belt Investors says he has the process of vetting deals down to 20 minutes or less. The better you know your market, local property values, and track every home and sale in process the faster and more accurately you can act. There are deals in even the hottest markets in 2016. It is possible to find sweet deals with fast $70,000 spreads if you know who is buying and selling, and what sales are about to be recorded. As the market climbs this is critical for being able to find inventory, and generate consistent cash flow while others allow themselves to be paralyzed due to a lack of data.

Be a Strong Buyer

Whether bidding on inherited properties, cherry picking from the MLS, or sniping for sale by owners investors must be positioned as strong buyers. This means being armed with a Proof of Funds letter (POF), making strong offers, and knowing how to effectively present yourself and your offer.

Build a Waiting List

The growing pressure from interest rates has thousands of buyers eager to secure properties. Many won’t be ask picky as they used to be. Many see this as their last opportunity to lock in cash flowing rental properties and affordable payments on homes, at least until we come full cycle again. They are not going to be as sensitive to price, or terms, but they want solid properties which can weather any coming fluctuations. Build a list of these buyers. Do it right, and don’t keep them waiting too long and they’ll be loyal. With a good deal on the front end, a strong buyers’ list, and access to transactional funding, investors can scale quickly.

Value & Good Deals

Unless wholesalers pack in the value and offer good deals they aren’t going to hit their full potential or see the repeat business they should. Think about next month, the next 11 months, and the next 11 years, not just the money you can make on one deal today. Don’t sabotage tomorrow.

 

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.