LOI In Competitive Multifamily Deal

[Emily N.]

I'm making an offer on a 60-unit deal in Indianapolis this week. The broker has told me there are many bigger players interested in the deal because of a lack of inventory in Indy. The seller has said he is not 'excited' about traditional financing and wants this to be an all cash deal. I/my team have enough liquidity for a downpayment and financing...

Does anybody have any tips on how to get our LOI + Offer to stand out? I'm confident that we can close as we have great lender relationships, and they know we are conservative, low-leverage investors.

[Greg Scott]

Indy is a very competitive market.  

If you are sure you want the property "as-is" and are sure you can close, a large amount of hard money, non-refundable deposit speaks volumes.  Of course, the downside is if later find the deal is a dog, you may be out a large chunk of cash.