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Updated over 7 years ago on . Most recent reply

Sylvia Harris's profile image
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Sylvia Harris
  • from The Villages, Florida
  • Member since Sep 22, 2017
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Sylvia Harris's profile image
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Sylvia Harris
  • from The Villages, Florida
  • Member since Sep 22, 2017
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Sylvia Harris
  • The Villages, FL
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Pennsylvania Real Estate Q&A Discussion Forum

7 days to Foreclosure

Sylvia Harris
  • The Villages, FL
Posted

Fellow Investors - Newbie asking advice . 

Owner needs 17k to stop foreclosure / ARV 120k / min 50k rehab / owner will sign lease for 2 years $1100 per month.

Can this be presented to a money lender? I ran the numbers -ROI potential 20%

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Steve Babiak
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  • from Audubon, Pennsylvania
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Steve Babiak
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

Nothing in the post mentioned what the balance owed is - just the amount to stop the foreclosure which could just be the arrears.

My guess is that the monthly mortgage payment was less than the amount they proposed as rent; if they couldn't make that amount of payment while THEY owned it, what makes you think they will pay that every month when YOU own it?

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