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In this tutorial, the speaker explains how to obtain a Proof of Funds for free for wholesaling without using software or paying for it. They define a Proof of Funds as documentation, such as a letter or bank statement, showing access to funds for a deal. This is important when wholesaling houses to show real estate agents proof of funds to be taken seriously. The video covers two methods to obtain a Proof of Funds and emphasizes its significance in closing deals successfully.