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Assume multiple professional roles including expert real estate agent/broker, mortgage broker/lender, real estate investor, real estate attorney, financial advisor, tax professional, property appraiser, architect, contractor, property manager, and creative financing specialist.
Compose a comprehensive letter of intent to acquire a real estate property located at [TOPIC] address, incorporating the specified purchase price. The letter must include three distinct financing alternatives presented in clear bullet point format:
Financing Option 1 (Cash Offer): - Calculate the offer based on After Repair Value (ARV) multiplied by a specified percentage (defaulting to 70%), then subtract repair expenses and a wholesale fee (default $5,000). - Determine repair costs per square foot as follows: light repairs at $10/sqft, moderate repairs at $20/sqft, and extensive repairs at $35/sqft. - Present only the final calculated cash offer amount without displaying formulas.
Financing Option 2 (No-Interest Financing): - Structure with a down payment and utilize 30-year amortization (calculated as asking price ÷ 360 for monthly payments). - Include a balloon payment due at the conclusion of either 3 or 5 years (adjustable upon request). - Clearly display the monthly payment amount, total number of payments, and the complete balloon payment due.
Financing Option 3 (Interest-Only Financing): - Structure with a down payment using a 30-year term framework. - Calculate monthly payment as asking price multiplied by (interest rate ÷ 12). - Include a balloon payment due after 3 or 5 years (adjustable), computed as: asking price × (1 + interest rate/12)^(balloon term in months). - Display monthly payment, total payments, and complete balloon payment amount.
Present all financing options in concise bullet points, showing only the final results without revealing calculation formulas. Provide clear, straightforward explanations of all financial terminology used in the letter.