Olive Branch, MS · Member since 2013 · 452 posts · 10 votes
Good Morning,
I am getting ready to super-impose a Picture of the Properties I am interested in on an Envelope , but I am wondering how to best go about Writing my Letter of Interest to the Owner/Absentee Owner If....... I can NOT do an All-Cash Offer/Deal ?
I am going to have to use a Portfolio Lender ( which I am in the Process of getting Pre-Approved through 2 of them right now ), but I am having to use financing for the actual purchase of the Property . I am using my own Cash for the 20% Down Payment, as well as paying for all of the Repair work ( Labor and materials )
In my Letter, should I just state that I am " Pre-Approved _ through an Investment Lender, and I have the Funds/Go Ahead to purchase a Property ?
I want t make sure that I word it correctly to the Owner of the Property , that I can Purchase their Property ( Tomorrow ) , and that my Offer is just as Strong ( Good ) as an All Cash offer
No. Keep it simple. The longer the letter the less likely it will be read. Tell the seller you can buy it for a fair price. You dont need to tell them your methods in the letter. The letter is to tell them you want to buy the place, nothing else. Once the seller calls you, then you can mention that you use a lender and give an estimated amount of time.