This person sent an annual report and a few letters updating the investors on the motel but that all ended in 2020.

We've laddered our balloon dates to happen every 2 to 3 years up to ten and will invest in REITs, ETFs and broad index funds as waterfalls hit and valuations appear attractive.   

I'd get an estopple letter from the contract purchaser to confirm how much has been given to your seller. 

I would follow up that discussion with a formal lease violation letter.

Hello,I recently closed on a BFD deal and looking for direction on correctly setting up journal entries, to make it easy at tax time.In a nutshell...We hold a mortgage on the property with a principal of $150k, 4.25%, 30yr amort (liability)The BFD sale price was $300k, with a $45 downpayment, $255k financed at 5.5%, 25yr amort, 3yr balloon (asset).All transactions are run through an escrow agent, and we just collect the net difference monthly (~$325 or so).   

The attorney said in my instance the first thing to do was send a formal letter notifying the tenant of the problem.

But then two of the investors I worked with analyzing this deal discovered an engrossing revelation…Included in the documentation letter contained an appraisal report assessing the property at $610,000.00!!

I think I've had 8-10 short-term rental and long-term rental deals close with this other program in the past two months alone.If you are in need of a new prequalification letter and a different look at the deal from another program, I would be happy to help before we hit the weekend.

I would mail them a letter or put them on notice.

They are now sending letters to National REIA clubs trying to book presentations.Tom DagneySJREIA - President