All Forum Posts by: Sam Booth

I'm working on hand writing a couple letters to some property owners, and I was wondering what wording has worked for you to get the property owner to call you? If you have any examples of what you put in your letters, that would be helpful as well! Is there anything else that you send with the letter, like a picture of the property or a selfie in front of the property (have heard others from podcasts doing this)?

Hey everyone!

I'm looking to try direct mail and I was curious if I could get some honest criticism on the content of my letters. When I have listened to the podcast and looked around on the forum it seemed like most letters were pretty simple, but I just wanted to make sure my letters looked reasonable to anyone with a little more experience.

edit: The list is going to absentee owners with over 50% equity

Thank you!

@Sam Booth

California hard money lenders also need to be licensed so a lot less lenders in California

Depending on deal expect 10-15% interest and several points - all will vary based on skin in the game and experience

That is a good point. Most of the under market properties that I have looked at are distressed porperties

Thanks to everyone who replied so quickly.  With regard to Vacant/Non-Owner Occupied houses.  What's the best way to locate those?

Hi Sam, 

Where is the property located and how is your credit? 

Are you using the property as a primary residence or investment?  Assuming credit is healthy there are lenders that will offer more favorable terms. 

Hi Sam,

It's hard to say without looking at the specifics (DTI, loan amount, investment/primary, etc), but it sounds like it could be lower given your good credit. Perhaps worth comparing with something else

With 25% down conventional (full income verification) even with 2+ units rates should be healthier..I wouldn’t suggest investing on the rate so much as the quality of property and analysis. If it ‘works’ at 8% it will work at 6% but it will be a lot more competitive for buyers when rates drop further.. Check in with @Joseph Chiofalo for a quick second lender look. Should be able to reduce the rate or similar terms but with less down. 

Good luck!