Hello, I am an aspiring real estate investor looking for my first deal. I have real estate license as well, but currently only use for referral deals, as I have never been a "realtor". I found a tri-plex I like which is off market- coming on the market in a couple days. I had a chance to build some rapport with the broker/property manager who will be listing it in the next few days. I am still waiting on the financials from him and he was going to give me a list price as well. I have the gross rents. I already have done research on comps and a basic market analysis and have a price I am comfortable with.
I have pre-approval for lending and wanted to know if I should write a basic LOI? What is my best strategy here. Does anyone have a very basic LOI idea? What strategy should I use for the commission process? I could represent myself and have my broker help me with the PSA or I could have the selling broker give me a referral fee?
