Don't just use one bank, always have a backup because their policies can change, there probably is no commitment to refinance a balloon loan.While the purpose of the loan and project must be viable, be conservative with estimated revenues, vacancy issues, maintenance, by conservative I mean don't overstate the upside to you, it's almost like showing the worst case.

Unlike a robot writing the letter, I know a guy who actually handwrites every letter at www.Thankably.com. 

But my favorite way is to pull a list from listsource absentee owners, 100% equity, last sale date last 6 months and Mail yellow letters or postcards. 

They will provide you a prequalify letter you can submit with your offers.

Like driving for dollars, send out cards or letters to homes that are vacant or abandoned.This way you have a bit more control in that the seller has not been shopping the market and they may just want to get rid of the property.Yes, the market is hot right now and Realtors are showing sellers what is hot and what is not.Anyway, good luck with your license and property shopping.

cool thats good to hear, however the other side of the story thats not really talked about by lenders is that if you have a lot of other properties in the area you are trying to buy a property "in" then it may be very difficult to purchase an eleventh financed property as a primary residence unless it makes sense for your given scenario.Often times this requires:- a Great LOE - letter of explanation- supporting documentation like relocation letters from employers, LOE's from family members, spouses, marriage certificates, mammograms (show increased family size), etc etc list goes on- your  track record with other properties, like did you buy them as a primary then switch to investment properties (underwriters test to see your past "integrity," with mortgage transactions).

Were they yellow letters mostly? 

I had a owner with which I have a solid relationship tell me they received three solicitation letters on the same day last week.  

This would be similar to a pre-qual letter from a big bank, but in this case a hard money lender/private money lender.

The seller naturally once the property on a balloon payment after 5 years (92k, I think i can bring it down to 80k but that's another story).How would I go about doing that without a traditional lender?