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Updated about 4 years ago on . Most recent reply

User Stats

24
Posts
15
Votes
Joshua Nowell
  • Rental Property Investor
  • New York, NY
15
Votes |
24
Posts

Which came first, the deal or the financing?

Joshua Nowell
  • Rental Property Investor
  • New York, NY
Posted

I’m getting close to my first deal. Feeling really good about things. Visited a few homes and made a couple offers already. But I’m running into an issue with a few of these agents in general. They keep telling me I need to present my financing and down payment first in my offer letter. But, like I tell them, my intention was to be the deal finder and partner with someone with capital so that really isn’t possible.

Even still, I’m not sure how likely a potential partner would be to take the deal seriously unless there was a contract ready to go and move on. Can anyone tell me how you set up an offer. Do you always give a Proof of funds or down payment in the Offer? Any advice on what you’d do in my shoes?

I’d appreciate any words, hell even criticisms. I’m just trying to learn. Thank you for the help.