Updated over 6 years ago on . Most recent reply
Is this deal possible
I have a deal for a House with a balance of $175,000 25 years remaining. The homes in area are currently selling for $85,000. The current debt service is $1,700 including HOA fees. I can get a rent of $1,500 for the house which is 3 bed 2 bath.
How can I make this deal work? I was thinking of approaching this through a subject to deal.
Most Popular Reply
Yeah @Gerald Boone there's nothing you can really do there. It's noble of you to try to help your friend out, but it's not going to work. The best thing to do is try to do a short sale just so your friend's credit doesn't get ruined from foreclosure. If he wants he can rent it out but he's still going to be losing $200/month.