Real estate investor walks through drafting a fast LOI for a $2.9 million property with 30% owner financing. The strategy: make lots of offers quickly, dictate the terms, send it out, and move to the next deal if they say no.
If they don't like it, too bad, sell to somebody else. Good luck and move on. So go ahead and hit the dictate button. Put together, put together an impromptu LOI using all the components of a letter of intent necessary for it to be considered professional. And we want to use the, use the information that we currently have to do that. We want to offer $2.9 million. We want the seller to carry 30% and we want to We're going to be using a debt structure to get it taken care of through our commercial banker. We will need to have all of the pertinent information to verify and validate the current information as it's been provided, but we are only interested in offering a $2.9 million purchase price with owner carry of 30% of that so that we can get it, get it purchased quickly. If they're okay with this opportunity, let's, let's get into a deeper conversation. And so then I would just take whatever this LOI says and send it over to them and do what they say. That sounds good. The more offers you throw at people, the faster you're going to get to a deal, right? You got to throw, you got to throw 100 offers to catch 10.
