One additional clarification - the commercial loan is a 5 year loan on a 20 year am so we will have to pay off the balloon at that time or redo the loan at that time at the going interest rate.

I just got an angry call from someone that received my letter. 

I will send them a letter to demand late fee, the late fee is over $2000, and will file claim after 10 days. 

so, I've been driving for dollars, find properties, send out some letters, get contact, now I want to get a house under contract for a specified amount of time (30-60 days?

Wholesaler I am interested in learning the business and I just mailed 500 yellow letters to abandon properties and absentee home owners.  

It is much more than sending out some I buy houses for cash letters (hope you are more creative than that!) 

-the property is in a non warrantable condo complex-loan size of $70K-$75K-property is rented and has good cash flow-I would prefer a fully amortizing loan (no balloon payment); so preferably a 30 yr with 30 yr amortization but would consider a shorter, fully amortizing loan as well-Looking for a LTV of 75-80%The deal size is too small for a lot of lenders (including B2R).

I send letters to absentee owners.

I put two properties under contract this past week, both of which had received letters from other wholesalers. 

Or, are the bankers only going to do balloon notes?