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CTW 078: Submitting a LOI Too Soon
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When? This feed was archived on August 03, 2023 09:09 (). Last successful fetch was on December 18, 2022 10:31 ()
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Manage episode 223654831 series 2097582
As an active multifamily investor, one of your goals is to acquire a property off-market. That would mean very few other investors have access to it and obviously that it is not currently being marketed to the masses. This would allow you to have a much higher chance at a deal and you could possibly get it for a much more attractive price.
And of course an LOI is non-binding but what you still don't want to do is submit an offer without having ALL of your key information available to you. Key information such as the property manager's proforma, the lender's term sheet, market survey and hopefully you also walked the property.
In this episode we'll tell you why we broke our own rules and submitted an offer BEFORE we had all of our necessary information. We'll also tell you what we learned from this and what you should do if you're in a similar situation.
Don't forget to subscribe to our YouTube channel!
103 episodes
CTW 078: Submitting a LOI Too Soon
The Commit to Wealth Podcast - Creating Generational Wealth through Real Estate Investing
Archived series ("Inactive feed" status)
When? This feed was archived on August 03, 2023 09:09 (). Last successful fetch was on December 18, 2022 10:31 ()
Why? Inactive feed status. Our servers were unable to retrieve a valid podcast feed for a sustained period.
What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.
Manage episode 223654831 series 2097582
As an active multifamily investor, one of your goals is to acquire a property off-market. That would mean very few other investors have access to it and obviously that it is not currently being marketed to the masses. This would allow you to have a much higher chance at a deal and you could possibly get it for a much more attractive price.
And of course an LOI is non-binding but what you still don't want to do is submit an offer without having ALL of your key information available to you. Key information such as the property manager's proforma, the lender's term sheet, market survey and hopefully you also walked the property.
In this episode we'll tell you why we broke our own rules and submitted an offer BEFORE we had all of our necessary information. We'll also tell you what we learned from this and what you should do if you're in a similar situation.
Don't forget to subscribe to our YouTube channel!
103 episodes
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