Offer Letter For Investment Purchase?

Question

Hello all. I am submitting an offer for my 1st investment property. Based on the conversation my realtor had with the seller's agent, the family selling the home is humanitarian in nature and would like to "help a family." They didn't go in depth as to what exactly that meant but it's safe to assume they want to help a local family make it their primary residence. That being said, I'm considering submitting an offer letter in an attempt to get creative. Technically for me, I'm trying to get into real estate investing in order to gain financial freedom and to spend more time with my family and also help take care of my family. I'm trying to get ideas on how I can word the letter in order to remain truthful and sound good at the same time. Any ideas or should I just abandon the whole idea? My offer is already very aggressive.

Matt Ziegler · Answer

Congratulations on submitting an offer! Keep taking chances, and make the best of The opportunities that present themselves. You’re now one step closer to a yes! Cheers

Austen Carroll · Answer

@Jay Hinrichs

Got it. Thanks Jay. I'm reading about it now, I can understand it's necessity I guess. Not gonna turn this forum into political views lol

Back on the topic for the original question

@Eddie Torres I agree with the others, some communication to the seller about how you're not a large firm buying up the property to bull doze and put a Walmart in is well within the safe to disclose content.

You being a family man and purchasing this property for you family's financial well-being is to me noble. But the title "property/real estate investor" can seem intimidating if you're not totally educated on the subject. I know I wasn't

Matt Ziegler · Answer

Just be honest, open and direct. Explain your situation and what your plans are for probably and if the sellers are agreeable write an offer up and move forward. Being as you’re not a licensed agent and you’re dealing principal to principal, they’re not so many legal hurdles to overcome. Full disclosure, I am not an agent or an attorney, but we purchased several properties principal to principal and they can be done.

Cheers

Jay Hinrichs · Answer

Oregon you cant use them at all..  discrimination  issues.

Ronald Allen Barney · Answer

Get as close to the truth as legal in your state and clarify that you're not a huge capital group coming to town to slum lord the entire city, you're a hard-working guy trying to break out of the 9 to 5 (if that's legal to disclose) and being able to turn a modest income on a rental would be a vital step toward that dream of financial freedom.  If they turn that down they're not humanitarians at all.

Dustin Allen · Answer

@Eddie Torres

I like letters but we’re definitely not allowed to mention familial status (California).  We usually keep it to praising how well they’ve taken care of the place and saying how we’d be honored to carry on the tradition.  When it comes down to it, a letter usually only overcomes small differences in price and terms.

Robert Ruschak · Answer

Quite amazing.

Eddie Torres · Answer

I ended up submitting a letter with the offer but I was unsuccessful unfortunately. Gonna keep trying..

Austen Carroll · Answer

@Jay Hinrichs so woke!!!

Thanks for the insight

"I'll never call you my Landlord!!! Not even if there's a fire!"

Jay Hinrichs · Answer

OK here is what the state of Oregon is protecting the public from..  out our way these letters are usually far more than letters they can be a bound booklet.. with pictures of the family  the family dog  the family parrott  pics of their kids at the beach etc etc.. long flowing letters.

What this state determined and others have as well is you have a situation ripe for discrimination.

you have 10 offers..  you have 10 letters with accompanying picture booklet..  you have one Asian family  one pacific islander family one black family one indigenous people family one Hispanic family and one white family.  the state is worried that the seller will have a bias against one of those and pick another simply based on race..  You know the poor Asians in big cities getting attacked in the middle of the day right on the street so someone may have a bias there and wont sell to them.  This is why they are now forbidden to be used by REAL ESTATE AGENTS  I suspect private party no licensed agents involved can do what ever they please in this regard.

Also you probably heard that the Master bedroom now for agents must be referred to as the primary..  Although in Canada it was/is the Ensuite room.

and even here on Biggerpockets one lady got on about how she is lobbying in the state of Indiana to have the term Landlord removed from the vernacular and replace with  ( Housing Provider)  the thought being Landlord denotes Lord of the land and superiority over the tenant I guess is the point.  On that thread most Landlords ( Housing providers) disagreed with her thought process and though to spend money lobbying this was not warranted. Real Estate has officially entered uber PC and woke issues. :)

Offer Letter For Investment Purchase?

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