Updated almost 10 years ago on . Most recent reply
Should I do a short sale on a condo?
I am a couple months old when it comes to investing so a lot of things I am learning on the fly. I have a friend who is in need of debt relief on a condo she has. She hasn't paid her mortgage since June and her original loan was for $150k (I haven't asked what she owes yet). There's a tenant in there and she wants to shortsale. Condo's in the area are going anywhere from $55k to 90k. Would you all consider shortsaling or subject to or just leave it alone?
If you suggest shortsale, where would be my buying price point? I just want to wholesale it by the way.