Put in my First Offer ever
Hey everyone,
Today was nerve racking. I finally found a deal that made sense/cents and put in an offer on a 4-plex that I've been looking into.
I had no idea about the $1000 earnest deposit needed to be taken seriously. I'm just starting off in Real Estate Investing and have little to no money. There was so much information I learned today from my Realtor. I also did something @Brandon Turner says he does when putting in offers, and that is submitting a letter explain my situation as a young investor looking to purchase the property.
I'm taking the advice of many people that I should purchase a multifamily and house hack. I'm using a FHA loan to fund this deal. I have to come up with a little over $10k for down payment and closing cost. $1000 down, 9 more to go LOL
I'll keep everyone updated.