A better reality check is more like a 3month - 6 month term to balloon, with 5pts and at 15%.

Paul, to make such an offer, it is best to send your offer via an LOI (letter of intent).

If I received your letter, and thought any part of it was better than mine, I would adapt my letter.

9 times out of 10 I get the reply of "you sent me the letter, what's it worth to you?"

You can get tenant estoppel letters, but these can be annoying especially if some tenants are unresponsive.

Personally I send them a form letter with the reason checked off.But regardless of which way you do it you need to have a real reason based on your criteria, or you'll be taking a risk.

They sent out official resignation letters to all homeowners in the email database and also turned in their information/materials (documents, folders, etc.) to the remaining board member soon after.

Thanks.Purchase Price (B23) $100,000.00Repairs (B24) $50,000.00Points Charged by Lender 3.00%Points Added to Loan $3,000.00Purchase Closing Costs (@ 2.5%) $2,500.00Out of Pocket (includes closing costs and payment) $7,750.00Holding Costs (Taxes/Insur/Util/HOA/Lawn @ 2.5%) $2,500.00Inspection/Appriasal Fees $600.00Total Invested $165,750.03Total Cash Needed From Lender $153,000.00Hard Money Monthly Payments (16%) $2,031.84Total HML Payments (@ 6 months) $12,191.04Lender Loan to ARV 67%Total Loan Owed Lender $165,191.04After Repair Value (B25) $230,000.00Home Warrant $450.00 Termite Letter $100.00Realtor Fees (@ 6%) $13,800.00Our Closing Costs $1,500.00Their Closing Costs $1,500.00Total Debits at Closing $16,800.00Total Cash Received if Sold Now $213,200.00Total Invested (B41+B49) $177,941.07Total Profit $35,258.93I have the rehab costs at $42,500 however I increased the allowance to $50,000 to cover any unexpected costs.

Let’s assuming the subject property will cash flow as a rental and the current financing is first, no second, a low interest, fixed rate loan, no call or balloon, long term loan (15, 20, 30 yrs), and a loan is not financed by a local bank and, you have cooperative sellers.

They say I owe $6656.52 for 2010 and they just sent me another audit letter for 2011 . . .