Hey BP Members,I wanted to see if anyone would share their experiences with moving properties in indv. name into existing LLC (used for old side work but still active, no debt etc) and what insurance companies need to insure, lender consent letter (to prevent due on sale).

He said he is bored of sending letters to people doing this quitclaim deeds to alert of due payments in doc stamps.

I have a seller contact me from one of my direct mail letters looking to sell her house.

If they are month to month trnants, senf them your letter ASAP.  

However, even if it is not a warrantble condo you can still have a mortgage on it but the rate will be higher, or it might be adjustable, or it could balloon or even all 3 of those things!  

The lender will supply you with a loan letter you can give a copy of that with your offers and possibly give the owner a bit of confidence that you can close.Another thing you might do is locate your office location that is convenient and has a minimal of distractions.  

I find that a few of the investors that I have spoken to have actually taken some of the approaches that you've mentioned. when you say direct mail do you mean sending out letters to distressed seller, absentee owners, probates, etc?.

So I have been out driving for dollars and seeing a lot of empty house, the big problem for me now is coming up with a good marketing letter or good script for calling.

They (your lender) can also give you a loan letter that says there average closing time and the maximum amount you qualified for.  

I know commercial are shorter with higher rates and the occasional massive balloon payment.