Well now my client had to rip out all that work and re-do it with the correct permits of the city wouldn't release the lien letters.

Have the seller speak to them as well to get the info direct or draft them a letter/info packet on the benefits.

Was it a formal letter to increase rent or did you just state that you're going up on the payment?

So far I have sent out 85 letters to absentee homeowners and distressed properties.

It's either drive for dollars, send letters, network with neighbors, get hyper local, or spend more on marketing and blanket entire neighborhoods.

It has two loans one from 2007 for 744k the other is 150k that was borrowed in November 2022 that has a balloon that burst in 2024 .

When it comes to environmental check to see if the property has a NFA (no further action) letter.

How would you explain these buyers terms to the seller. ok. 30 year amortization means the monthly payments are based on a 30 year loan, but at year 20 whatever the balance is they pay it off then (balloon payment)Personally I would NOT accept any of these offers.

@Mica Mooreit will be a learning curve, but trial by fire is often the best way to learn.Read your PM contract about termination and follow to the letter.

Just sent the first 17 letters to the owners of distressed properties on my long list.