Hello Les,Direct Mail and handwritten letters could be good sources but its tough to track.

5 homes as collateral 8% for 5 years balloon for 20 yearsor 3 year floating capped at 7.5%-5% for 25 years.

If its a primary home they can go higher but in a slow market 3% to 4% is common and if they are not coming in at full ask usually the seller offers 1-2% which is fair.The buyer must have an unexperienced Loan officer because you should always know what your customer needs prior to sending them a pre-approval letter or allowing them to go into contract.

You also want a personal guarantee rider on your loan, a balloon payment rider, and any other riders your attorney deems necessary to keep you and your funds protected.Of the purchase price, rehab, and holding costs, how much cash is the borrower putting in?

Home features, location, down payment and interest terms, amortization and balloon terms?

Hello,I am new to real estate investing and decided to go with Easy Street Capital as our lender for the DSCR loan.They already ran out credit and we went under contract on a property after getting the pre-qualification letter from them.I also got the Term Sheet from our contact Zach and the last page is asking us to wire transfer $2,500 to their bank account for the deposit.Is this common for private lenders?

I got a deal from a letter campaign recently. 

Member of a group I am in on FB but the letter they send me looks unofficial. 

Lesson learned and will be more careful in the future.At this point, I am going to have an attorney send a formal letter to cancel the contract and return part of the down payment less the work that's done.

They also require gift letters to ensure your not responsible for paying it back since they are not accounting for this debt in your DTI.