CTW 078: Submitting a LOI Too Soon

The Commit to Wealth Podcast - Creating Generational Wealth through Real Estate Investing

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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.

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103 episodes

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